In a significant move, the Reserve Bank of Zimbabwe (RBZ) has thrown its weight behind the National Standard Price List (NPSL) and the directive for local suppliers to be paid in local currency, implemented by the government through the Ministry of Finance, Economic Development and Investment Promotion. This development marks a crucial step towards the exclusive use of the domestic currency, a welcome shift for Zimbabwe.
The National Standard Price List (NPSL) is a government initiative aimed at promoting the use of the local currency, ZiG, in Zimbabwe. It requires local suppliers to be paid in local currency, marking a significant step towards reducing the country’s reliance on foreign currencies. The NPSL is part of the government’s efforts to stabilize the economy and promote economic growth.
The RBZ has assured the nation that foreign payment transactions will be met timeously, with sufficient foreign currency reserves to cover obligations as they arise. Foreign currency receipts have increased to US$16 billion in 2025, supporting the bank’s foreign currency reserve build-up. This guarantees foreign currency availability.
The move has silenced critics who have denigrated the government’s policies and monetary measures. Zimbabwe has achieved a historic feat, diving into single-digit inflation in January (4.1%) and February (3.85%) 2026.
To ensure the NPSL’s success, the RBZ has committed to stabilizing the ZiG and allowing suppliers to access foreign currency at the willing buyer willing seller market. This deal is a blow to the black market, which often short-changes businesses and individuals.
The apex bank has assured the business community that payment of services in ZiG will not impact operations. The exclusive payment of services to local suppliers in local currency does not mean a reversion to local currency use; the multi-currency regime will continue until necessary conditions are met.
The RBZ’s clarification demonstrates its commitment to stability and avoiding unnecessary shocks. The roadmap will see Zimbabwe emerge stronger, using its domestic currency. The bank is committed to maintaining price and exchange rate stability to safeguard the ZiG.
This aligns with the government’s National Development Strategy 2 (NDS2) goals, strengthening the financial sector, deepening domestic resource mobilization, and maintaining stability to promote investment.
