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Investing.com -- Zimbabwe’s gold reserves have reached 3.4 tonnes as of June 30, more than doubling from 1.6 tonnes recorded on the same date last year, according to Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu.
In his mid-term monetary policy statement delivered Thursday, Mushayavanhu attributed the significant boost in both foreign currency and gold reserves to a sharp increase in foreign currency inflows.
The central bank’s gold holdings have nearly tripled since the introduction of the ZiG, a gold-backed currency launched in April 2024 to replace the Zimbabwe dollar.
Zimbabwe recorded inflows of $7.2 billion between January and June 2025, up from $5.9 billion during the same period in 2024, Mushayavanhu said.
The governor pointed to several factors driving the increase in reserves, including export earnings, remittances, and a government directive requiring mining companies to remit 50% of mineral royalties in kind.
Mushayavanhu stated that the RBZ would continue building both gold and foreign currency reserves to support ZiG stability and provide sufficient import cover for the economy. The central bank aims to accumulate reserves in line with regional benchmarks of 3-6 months of import cover.
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