Zimbabwe gold reserves hit 4.4 tonnes: Mnangagwa

Tue May 12 2026

President Emmerson Mnangagwa says Zimbabwe’s gold reserves have risen to 4.4 tonnes, placing the country 11th in Africa and third in southern Africa. Speaking during an inspection of the Reserve Bank of Zimbabwe (RBZ) vaults on Monday, Mnangagwa said the government remained on track to reach five tonnes by end of 2026 as part of efforts to reinforce the country’s gold‑backed currency framework.

“Presently, Zimbabwe proudly ranks 11th in Africa and third in the SADC [Southern African Development Community] region for official gold reserves,” he said. “These reserves are tangible assets that underpin our monetary sovereignty rather than mere numbers.”

He said the reserves now underpin the ZiG, Zimbabwe’s gold‑backed currency introduced in April 2024 to stabilise the monetary system after years of volatility. RBZ governor John Mushayavanhu said 22 billion ZiG is currently in circulation, with three percent held in hard‑currency reserves.

Source: https://apanews.net/