Zimbabwe Reintroduces Fresh Mullah Code to ZWG Marshalling the introduction of the ZiG in April

By Abdul Rahman Bangura-

Photo Credit: Facebook

NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The codes ZWL and ZWG will operate jointly from June 25th, 2024, to August 31st, 2024 when the ZWL code is designated to pass away.

This was disclosed in a note coped with to the Bankers Association of Zimbabwe (BAZ) Chief Executive Officer-Fanwell Mutogo, by the Reserve Bank of Zimbabwe’s Deputy Director, Financial Markets – National Payment Systems and FinTech Department, Josephat Mutepfa.

The letter, dated 25th, June 2024, reads: The Reserve Bank of Zimbabwe notifies that the World Bank ISO 4217 Committee has endorsed our proposition to switch the Zimbabwe Currency Code from ZWL to ZWG (Zimbabwe Gold) effective 25th June 2024.

The Codes ZWL and ZWG will run concurrently from the 25th of June to the 31st of August 2024 to permit critical system configurations by players. In this respect, the ZWL banknote code will stop being acknowledged from the 1st of September 2024. The Reserve Bank of Zimbabwe exhorts all banking sector players to consequently bring in integral pacts to enable a greased transition to the contemporary Currency Code- ZWG.

For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent