ZWG Introduction — April 2024
The Zimbabwe Gold (ZWG) replaced the Zimbabwe Dollar (ZWL) in April 2024, backed by gold reserves and foreign currency assets. Remittance platforms adopted the new currency within weeks.
Rate Trend — 2024 to 2026
Since ZWG introduction, the rate has moved from approximately 13.56 ZWG/USD (RBZ official at launch) to the current 25.80 ZWG/USD — a depreciation of roughly 47% over 23 months.
Provider Competition
Competitive pressure from Sasai Remit (Econet-backed) has pushed rates higher and fees lower across the Zimbabwe corridor since mid-2025, benefiting senders and recipients.
Volume Trend
Zimbabwe received $2.1 billion in remittances in 2024 (World Bank). Volumes are growing at approximately 9% year-on-year, driven by the UK, USA, and South Africa corridors.