Wholesalers Embrace ZiG Currency, Streamlining Trade Across Production and Retail Chain

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HARARE – In a significant development, wholesalers have seamlessly integrated their systems with the newly introduced ZiG currency, facilitating smooth trading across the production and retail value chain.

By Staff Correspondent

Davipel Limited, a prominent food-producing company, confirmed its adoption of the ZiG currency, with Chief Executive Officer Mr. Davison Norupiri emphasizing their commitment to trading in all currencies, including ZiG, to meet statutory obligations.

“As a manufacturer, we have embraced the new currency, and our products are being sold in all currencies including ZiG. Our customers, mainly wholesalers, are transacting in ZiG as they subsequently sell in ZiG, ensuring a well-functioning cycle,” stated Mr. Norupiri.

At N Richards, a leading wholesaler in Harare, traders and retailers were observed conducting transactions in ZiG, with prices displayed in the local currency. Consumers expressed satisfaction with the currency’s stability, highlighting its positive impact on business operations.

“I run many shops and have been buying using ZiG; the currency is stable, which is good for business,” commented a consumer.

While acknowledging the efficiency of ZiG transactions, consumers also urged authorities to ensure adequate availability of notes and coins to support trading, particularly for providing change.

Mr. Archie Dongo, the manager at N Richards, disclosed that wholesalers had diligently realigned their systems to accommodate the new currency regime, enhancing the convenience of multi-currency transactions for customers.

“We have successfully configured our systems to accommodate the ZiG currency, allowing our customers to transact seamlessly in all currencies. Many of our competitors are also embracing ZiG transactions,” noted Mr. Dongo.

Amidst widespread adoption by wholesalers, most retailers across the country have also transitioned to ZiG transactions, thereby completing the entire production and trading cycle. Calls have been made to monetary authorities to increase the availability of ZiG notes and coins to further support and streamline trading activities.