Zimbabwe's ZiG: ZiG Used to Pay for 40% of Transactions

Zimbabwe has introduced a new gold-backed currency called ZiG (Zimbabwe Gold) to replace its devalued dollar and stabilize its economy. Despite government efforts to promote the ZiG through various means, including music and public campaigns, it faces public mistrust and devaluation on the black market. The government is taking strict measures against currency dealers and businesses to support the ZiG, while also reporting increased usage in transactions. However, the U.S. dollar remains dominant in the country, with the government aiming to phase it out in favor of the ZiG by 2026.