Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) says initial plans to withhold 10% foreign currency receipts by Small Scale Gold miners have been shelved temporarily.
The directives were first announced during the 2026 Monetary Policy Statement presentation as a way of whipping the small scale miners to contribute their earnings towards economic rebuilding.
But in a statement outlining the latest Monetary Policy Committee (MPC) deliberations, RBZ governor, Dr John Mushayavanhu said deductions will no longer be implemented as planned earlier.
“The policy encountered some implementation challenges by Fidelity Gold Refineries. In addition the Zimbabwe Miners Federation noted that some artisanal and small scale miners are not banked and would require more time to open bank accounts.
“In this regard the committee resolved to temporarily suspend the implementation of the policy while appropriate logistics are being put in place for the smooth operationalization of the proposed retention requirements,” he said.
The RBZ reiterated that the continued strong foreign currency inflows and the resultant buildup of foreign currency reserves buffers will ensure mobilization of adequate foreign currency resources to support critical imports including fuel.
