The Reserve Bank of Zimbabwe has recorded an increase in it’s gold reserves since April 2024.
The RBZ governor Dr John Mushayavanhu has advised the nation that the reserves coverage backing the Zimbabwe’s new currency Zimbabwe Gold (ZiG) has increased by over US$100 million in the last three months.
“Small scale miners have increased their deliveries to the Fidelity Gold Refinery,” RBZ governor said.
According to Nick Mangwana, the Permanent Secretary for Information, Publicity and Broadcasting services’ X post, newsreportzim.com has learned that the RBZ boss John Mushayavanhu advised the Nation that the reserve coverage backing the ZiG now sits at about US$370 million from $285 million in April.
“So the RBZ Governor advised the Nation that the reserve coverage backing the ZiG now sits at about US$370 million from $285 million in April. Small scale miners have increased their deliveries to the Fidelity Gold Refinery.
This is a product of sound policies which are fit for purpose,” the post reads.
