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Zimbabwe's 11th Place in Africa's Gold Reserves Shows 'Significant Improvement in Stability:' Official

Zimbabwe's 11th Place in Africa's Gold Reserves Shows 'Significant Improvement in Stability:' Official

Sputnik Africa

Zimbabwe's 11th Place in Africa's Gold Reserves Shows 'Significant Improvement in Stability:' OfficialDue to "reserve accumulation strategy by the central... 12.05.2026, Sputnik Africa

2026-05-12T22:59+0200

2026-05-12T22:59+0200

2026-05-12T23:04+0200

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Zimbabwe's 11th Place in Africa's Gold Reserves Shows 'Significant Improvement in Stability:' OfficialDue to "reserve accumulation strategy by the central bank" to a greater extent, gold reserves increased to 4.48 tonnes, Persistence Gwanyanya, a member of the Reserve Bank of Zimbabwe Monetary Policy Committee, told Sputnik Africa's correspondent Daniel Chigunwe."When the ZiG currency was introduced [...] the level of reserves was only $276 million in the form of physical gold and foreign currency. Now, over the period of two or three years, we have seen this increasing significantly to around $1.4 billion currently.""The bullish gold market" has accelerated reserve growth through increased foreign currency inflows and royalties, supporting durable currency stability, he noted."Reserves are important to support our ZiG currency, especially as regards convertibility of the currency." Watch the video to learn more about Zimbabwe's improved economic performance. Subscribe to @sputnik_africa Sputnik Africa | X

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