Zimbabwe Gold Will One Day Replace US Dollars as the Nation’s Sole Currency, Finance Minister Says
In an interview with Bloomberg, Ncube expressed an optimistic outlook for the economy, thanks to the effective domestic resource management and agricultural reforms that are helping to grow the economy.
“The economy is set to grow 2%, even with the worst drought in 40 years,” Ncube stated while attributing this positivity to prior investments made by the government in agriculture and water infrastructure, including the construction of a dam and the adoption of drought-resistant seed varieties.
“As a result, Zimbabwe is expecting a bumper wheat harvest, achieving self-sufficiency with an estimated 600,000 metric tons and plans to begin exporting wheat,” he added.
Commenting on the drought, Ncube acknowledged the struggles many Zimbabweans face but pointed to ongoing support from European donors to assist vulnerable families, alongside fiscal discipline to maximize domestic resources.
According to him, the government aims to expand agricultural insurance programs in 2025 to target the most vulnerable communities in 22 affected districts.
Speaking on the recent performance of the Zimbabwe Gold, Ncube described the (ZiG) as a stable currency underpinned by the nation’s strong reserves. According to him, the local currency has strengthened against the US dollar, signaling improved economic fundamentals.
When asked about the possibility of the ZiG replacing the US dollar in the country, Ncube remained hopeful but failed to disclose a timeline. “One day the Zimbabwe Gold would become the nation’s sole currency,” he said, noting that the country currently has a roadmap and the timing must be carefully managed to avoid speculative risks.
“We can never pronounce the exact timing of that. But, but we have a road map. We’ve made it clear that one day it will become the sole domestic currency of the country,” he added.
