Zimbabwe’s Securities and Exchange Commission (SECZ) has mandated that all licensed entities adopt the Zimbabwe Gold (ZiG) currency as the common reporting currency for financial statements, including 2024 audited results. This follows a directive from the Reserve Bank of Zimbabwe in its February 2025 Monetary Policy Statement.
The move is part of broader efforts to entrench the use of ZiG, the gold-backed currency introduced in April 2024. However, businesses have raised concerns over the complexities of adopting ZiG for reporting, given its sharp depreciation—losing 96% of its value since launch—and Zimbabwe’s persistently high inflation.
Previously, firms listed on the Zimbabwe Stock Exchange were allowed to report in US dollars, the dominant transactional currency in the country. The new directive now compels them to switch, adding another layer of uncertainty for businesses navigating Zimbabwe’s volatile currency environment.
Companies struggling to comply have been advised to seek guidance from SECZ.
