Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) has committed to meet the foreign currency needs for all government contractors in a move which will go a long way to keep the foreign exchange market stabilized.
This follows last week’s directive by the Finance , Economic Development and Investment Promotion Minister Hon Prof Mthuli Ncube on implementation of the National Standard Price List (NSPL) which compels the payment of all public contractors in ZiG.
“The RBZ wishes to complement the Hon Minister’s strategic intent, by assuming all Public sector suppliers , contractors and the general public of its commitment to the continued stability of the ZiG.
“Further, providers of goods and services to the public sector that will receive payment in ZiG will have access to foreign currency on the Willing Buyer Willing Seller Interbank Foreign Exchange Market for their bonafide import requirements,” RBZ governor Dr John Mushayavanhu said in a statement.
The RBZ reiterated that the country has enough foreign currency to cover all Bonafide foreign currency demand for selling foreign payment transactions backed by surging foreign currency receipts currently standing at US$16 billion as of 2025, backing up strategic foreign currency reserves.
Mushayavanhu said this strong performance in the external sector guarantees foreign exchange availability as evidenced by the consistent clearance by the RBZ of the uncovered demand in the market.
“Single digit inflation levels achieved in January at 4,1% and February 2026 (3,85%) show that inflation and exchange rate expectations have been anchored. In this regard ,Public Sector suppliers and contractors can be assured that payment in ZiG will not negatively impact their business operations,” he said.
The RBZ also advised the public that the stance taken by the government to pay its local contractors does not signal the end of the multi currency system .
“As repeatedly emphasized, the country will only transition to the exclusive use of local currency when all the Conditions Precedent (CPs) have been successfully met .The CPs include increased demand and wider use of ZWG,” added Mushayavanhu.
