The Reserve Bank of Zimbabwe (RBZ) has published a national assessment of ZiG cash availability, identifying uneven distribution and calling on banks to move cash from central depots to branches and ATMs, particularly in underserved areas. Currency in circulation totals ZiG703.4 million, equivalent to 2.2% of deposits against a 3% benchmark. The assessment highlights the importance of improving access to cash already held within the banking system alongside progressively increasing circulation. Banks hold ZiG490.4 million, or 69.7% of currency in circulation, including ZiG270.4 million at central cash depots and ZiG195.1 million within branch networks. While 413 of 428 operational branches are funded, only 212 of 499 operational ATMs have funding. Branch cash is also geographically concentrated, with Harare holding 54.2% of the total, broadly reflecting the concentration of banking infrastructure and activity in major urban centers. Banks should prioritize underserved locations and replenish branches and ATMs on defined cycles, allocating cash according to demand, cash per outlet and distance to alternative access points. The Cash Distribution and Availability System monitors availability across all 10 provinces in real time to guide allocation and redistribution. The RBZ will consider minimum branch deployment ratios and escalation triggers for excessive concentration of cash at central depots.
Reserve Bank of Zimbabwe urges ZiG cash redistribution as only 43% of ATMs are funded
The Reserve Bank of Zimbabwe's national assessment highlights uneven ZiG cash access, with substantial holdings at bank depots and only 212 of 499 operational ATMs funded. Banks should accelerate replenishment of branches and ATMs and prioritize underserved locations according to demand and access constraints. The central bank will consider minimum branch deployment ratios and escalation triggers for excessive depot holdings.