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The central bank said it was working with banking institutions to ensure the wider availability and distribution of ZiG through banking halls and automated teller machines (ATMs).
Cross recently told Bloomberg that that the liquidity crunch had “now killed the ZiG.” “The ZiG has retreated as a currency of trade and effectively we have dollarised,” he said.
The ZSE ended last year with a market capitalisation of US$1,67 billion, which declined further to US$1,48 billion in January 2025 and currently stands at US$1,45 billion.
The success of this strategy will build central bank credibility and trust, thereby increasing confidence in the local currency and reducing dollarisation.
A report last month by Imara Asset Management highlighted how the tax system disproportionately affects formal businesses, particularly large corporations.