Zimbabwe Banking Sector Grapples with RBZ Network Downtime

The Reserve Bank of Zimbabwe (RBZ) has confirmed a significant network challenge that has disrupted banking services across the nation, including critical Real-Time Gross Settlement (RTGS) and international payment systems. The disruption, which began yesterday, has led to widespread delays and concerns within the financial sector. Adding to the woes, the official RBZ website (rbz.co.zw) has also been inaccessible, displaying a 'Site Under Maintenance' message.

RBZ Acknowledges Technical Challenge

On August 18, 2025, the Reserve Bank of Zimbabwe issued a public notice acknowledging a 'technical challenge being experienced on our network.' The notice, widely circulated, stated that this issue was 'affecting most systems and may result in delays in some banking services.' The central bank assured stakeholders that they are 'working diligently to restore all services and will be providing updates as necessary,' while also appealing for 'patience and understanding.'

Following the RBZ's announcement, several commercial banks in Zimbabwe have also issued their own notices, confirming service disruptions related to the RTGS system and international payments. This has caused considerable inconvenience for individuals and businesses reliant on these critical financial channels.

Understanding the RTGS System

The Real-Time Gross Settlement (RTGS) system is a specialized funds transfer system where the transfer of money or securities takes place from one bank to another on a 'real-time' and 'gross' basis. 'Real-time' means the transaction is processed immediately upon receipt, without any waiting period. 

In Zimbabwe, the RTGS system is managed and operated by the Reserve Bank of Zimbabwe (RBZ) and is crucial for large-value and time-critical interbank transactions. It forms the backbone of the country's national payment system, facilitating the smooth flow of funds between financial institutions and supporting various economic activities, including international payments. Disruptions to the RTGS system can therefore have significant ripple effects across the entire banking sector and the broader economy.

RBZ Website Down Amidst Network Woes

Further compounding the concerns, the official website of the Reserve Bank of Zimbabwe (rbz.co.zw) has been inaccessible since the onset of the network challenges. Attempts to access the website are met with a 'Site Under Maintenance' message, preventing the public and stakeholders from accessing official updates or information directly from the central bank. This lack of direct communication channels during a critical period of banking disruption adds to the uncertainty and highlights the severity of the network issues.

Impact and Outlook

The ongoing network challenges at the Reserve Bank of Zimbabwe and the subsequent disruption to the RTGS system and international payments pose a significant challenge to Zimbabwe's financial stability. Businesses face delays in transactions, and individuals are experiencing difficulties with banking services. 

As the RBZ works to restore full services, the banking sector and the public will be closely watching for updates and a swift resolution to these technical challenges. The incident serves as a stark reminder of the interconnectedness of modern financial systems and the potential for widespread impact when core infrastructure is compromised.