Business Reporter
President Dr Emmerson Mnangagwa Monday visited the Reserve Bank of Zimbabwe (RBZ) where he inspected vaults and confirmed that gold reserves now stand at 4.48 tons.
In February 2026, the central bank held 4.2 tons of gold in its central bank reserves. These reserves are a critical anchor for the country’s gold-backed currency, the ZiG (Zimbabwe Gold), which was introduced in April 2024.
“Following my directive two years ago to accumulate mineral royalties in physical form, our gold reserves have increased considerably. Presently, Zimbabwe proudly ranks 11th in Africa and third in the SADC region for official gold reserves,” said President Mnangagwa.
“These reserves are tangible assets that underpin our monetary sovereignty, rather than mere numbers. With over four metric tonnes of gold and foreign currency reserves, our ZiG currency remains fully backed and resilient to global economic shocks.”
He added: “As we progress toward our goal of five metric tonnes by year-end, we remain committed to fostering a stable, transparent and prosperous economy for all Zimbabweans. Collectively, we are laying the groundwork for a robust future.”
Government aims to increase the reserves to 5 tonnes by year-end as part of efforts to reinforce monetary stability and economic resilience..
The ZiG which is backed by gold has maintained relative stability, with reports suggesting it is acting as bedrock” for monetary policy. Its intrinsic, tangible value offers a hedge against the hyperinflationary trends of past Zimbabwean currencies.
Zimbabwe’s annual ZiG (Zimbabwe Gold) inflation rose to 4.8% in April 2026, up from 4.4% in March, indicating a slight uptick in price pressures after reaching a low of 3.8% in February 2026.
Despite the increase, the rate remains in single digits, representing a significant stabilization compared to previous hyperinflationary cycles.
