‘Banking system remains stable’
STAFF WRITER
The Reserve Bank of Zimbabwe (RBZ) has assured the public that the country’s banking system remains stable, with no risk of value loss after 2030.
RBZ deputy governor Dr Innocent Matshe told delegates at the Old Mutual Zimbabwe Better Future Summit 2025:
“All contracts denominated in foreign currencies, such as the US dollar, will be settled in those currencies, while local contracts will be settled in local currency. Currently, banks have a capital adequacy ratio well above the required standards, ensuring that banks have sufficient capital to meet their obligations.”
He said the multicurrency regime—largely the US dollar and Zimbabwe Gold (ZiG)—will remain in place until 2030, by which time strong fundamentals should support a stable domestic unit.
Dr Matshe stressed the RBZ’s commitment to efficient payments, noting: “The central bank is working to ensure that payment systems are efficient and reliable, allowing individuals and businesses to conduct transactions with confidence.”
He also highlighted the transformative role of technology: “High mobile penetration in the web of technological innovation is transformed into a financial service, and this rapid digitalisation has had an impact on our central banks across the globe.”
Fintech Escrow Group CEO Mr Collen Tapfumaneyi added that Zimbabwe’s real estate assets are worth about US$85 billion, while rural farmers hold livestock worth US$5 million. However, he warned that less than 100,000 people have direct access to capital markets.
“The biggest question is, without a strong capital formation base, it is very difficult for us to grow our economy,” Mr Tapfumaneyi said. “Turning the assets that I have mentioned into securities is expected to generate trillions of dollars. The livestock and asset base, using AI or digital tools, can convert that into actual liquidity and address financial inclusion.
