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Zimbabwe wants digital payments to build trust in its newest currency. Why technology alone won’t be enough to save the ZiG

By Jonathan Munemo, Professor of Economics, Salisbury University

Zimbabwe’s central bank wants people to use the ZiG, a gold-backed local currency launched in April 2024, alongside the US dollar. A proposed real-time payment system based on Indian technology could help make the ZiG easier and cheaper to use.

But digital payments will strengthen the currency only if people have good reasons to trust it.

The Reserve Bank of Zimbabwe is negotiating…

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