A recent Afrobarometer survey has revealed that most Zimbabweans have little confidence in the Zimbabwe Gold backed (ZIG) currency’s ability to address the country’s chronic economic difficulties.
The survey shows widespread skepticism across various demographics, with a significant portion of the population doubting the currency’s efficacy.
“Doubts about the currency’s efficacy are particularly strong among men, young people, urban residents, and more educated citizens,” read the report.
This lack of confidence is intertwined with broader concerns about the government’s economic management.
“A majority of citizens score the government poorly on its management of the economy,” the survey adds.
The ZIG currency was introduced in April 2024, and public awareness is nearly universal, with 97% of Zimbabweans aware of its existence.
Despite this awareness, the survey indicates that more than six in 10 citizens (62%) express little or no confidence that the ZIG will alleviate the nation’s economic problems and the skepticism is particularly pronounced among specific groups.
According to the Afrobarometer report, “Skepticism about the currency’s efficacy is particularly high among men (64%), urban residents (64%), youth (66%), and the most educated citizens (69%).”
These figures suggest a deep-seated lack of trust in the currency’s potential to bring about positive economic change.
In terms of government performance, nearly seven in 10 Zimbabweans (68%) believe that the government is performing “fairly badly” or “very badly” in managing the economy.
The report highlights that the youth are more critical of the government’s economic management, with 71% expressing discontent compared to 65%-66% among older citizens.
The survey was conducted by the Afrobarometer team in Zimbabwe, led by the Mass Public Opinion Institute (MPOI), and involved interviews with 1,200 adult citizens between June 1 and June 15, 2024.
