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RBZ Speaks On Reason Behind Introduction Of Gold Coins, Who Can Have Them

RBZ Speaks On Reason Behind Introduction Of Gold Coins, Who Can Have Them

The Reserve Bank of Zimbabwe (RBZ) has said gold coins were introduced for curbing inflation and the preservation of wealth.

As part of efforts to facilitate a wide range of investment portfolios the central bank has seen it necessary to roll out gold coins.

This Friday Reserve Bank of Zimbabwe (RBZ) Governor, Dr John Mangudya outlined the roadmap to introducing the gold coins, including their intended purpose. ZBC News’ Business Editor, Stanley James, quotes Mangudya as saying:

The Reserve Bank of Zimbabwe’s Monetary Policy Committee (MPC) resolved to introduce gold coins into the market as an instrument that will enable investors to store value, the gold coins will be minted by Fidelity Gold Refineries (Private) Limited and will be sold to the public through normal banking channels, the primary aim and objective is to preserve the store of value for wealth so the process has started and minting has also started. It is all about focusing on different trading platforms that have an effect in curbing inflation while focusing on the preservation of wealth in terms of its intrinsic value.

The apex bank’s chief added that the coins are open to everyone, that is, industry, commerce, individuals, and investors among many others. He also said the gold coins will be purchased using the set of units within the multicurrency basket.

Gold is an important element for investors in hedging against the effects of inflation. 

Analysts have also backed the idea of the gold coins citing their positive effects on long term financial planning models.

Earlier this week, the Monetary Policy Committee noted that the minting of gold coins is important towards restoring confidence in the country’s financial markets.

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35 Comments

XXX 1 month ago

Ngauye tokompare price yavo nekunze kana aneprice yakadhakwa yekutengwa nayo. We smelt them totengesa kunze. Don't just make rush decisions ipai vanwe mukana chete mazvitadza izvi anaMthuli, Mangudya, Guvamatanga , nedhara renyu.


Bigger Zuze 1 month ago

What exactly do you have to do to get them is the question?


Top dog 1 month ago

U can rig the election but u can not rig the economy shame on u guys


INCONSISTENT MEASURES. ZVINOMUKA ZVAKAVHARWA. BUY AT YOUR OWN PERIL 1 month ago

RBZ MUST BE DISBANDED


Cable Guy 1 month ago

What does this mean to the ordinary man someone please explain further


Mmmm 1 month ago

Sold at an inflated price. A hedge against wealth 😂


pee 1 month ago

toda gold racho mangwenjere tomadii


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mdara loli lop 1 month ago

Ini handisati ndazvihwisisa kuti ma coin akagadzirwa ne gold here ?or kana kuti ano representer gold. Which is which now?


Asalif 1 month ago

in this country I see it coming kkkkkk we ended up using fake bearer cheques until the government resolved to let them seculate because they were more than the original notes


Gafa 1 month ago

Hazvishandi izvo yu buy them the bank keeps them for yu then wen yu reedem the bank gives you the bond dololo.e We hev no money to preserve we need value to money we spend on day to day use finish.


Volta 1 month ago

Izvi ndezve vanhu vane mari dzekureba kwete anaTsuro
Meaning hati benefit tese


Mukadota 1 month ago

As long as zvine bhanga guru mukati zvinomuka zvakavharana

SC 1 month ago

Tangible bitcoin..


Jah🇿🇼Tsvarie-07 1 month ago

To store value yes, but in business you still need hard currency to purchase raw material and the demand for US$ will still be there.

when i saw headline i thought Mangudya will explain on how business will purchase raw material coz that is where our problem is...


Mukadota 1 month ago

ZANU has reached the end of thinking capacity E. T. C

Mukadota 1 month ago

As long as achigara mu 🏦 bank hapana nyaya. Our banking system can't be trusted, let alone the RBZheti


Komuredhi Gaba Rinocheka 1 month ago

Hazvizi compulsory to buy gold coins.Some will see opportunities some see problems ahead, kusiyana kwemuoono.
Gore riye vamwe vakaramba minda vachiti hazvishande.


Oskid 1 month ago

Unongonzwa nezita racho kuti iguva ririkutaura.Kungobvumira zvese zvaramba hudududza sehozhwa ndezvevane mari yokureba


Gafa 1 month ago

Mapolicies aMthuli naMangundya are not good for the poor saka kana uri wapaPindula pano hapana chako kuchema chete.unoti Mnangagwa angada ubate gold achiramba ubate USA dollar forget.Dont just support for the sake of supporting be objective and analytic.Mofa nenzara


cde chipopi 1 month ago

No Whites no economy to speak about! Its now more than 20 years suffering from zanu pf heavy propaganda blaming the Whites and the Western countries for all our failures. Put America and the Western Countries in our equation. Things will go back to normal bcoz they have money these gyz and they are the major economies in the world but bcoz makaoma musoro, muchapa mama ne nhamo kusvikira amen! Ini slogan yangu inoti pamberi ne kuti varungu tigarisane nekufambidzana nawo zvakanaka munyika medu zvitirerukire.


cde chipopi 1 month ago

look now ana Marvellous Nakamba and all those gys in the diaspora zvirikutoita iwe uri mu cabin yepuranga uchiti murungu ndakamuvenga uchipakaura ne nhamo. sithupethi zi**** re munhu. Munhu mutema anotoda murungu kuti zvinhu zvimuiitire mushe hama yangu


Mahara 1 month ago

Manufacturing is protecting his job for once the economy Dollar is estimated do. We a need for a Governor?


Mahara 1 month ago

Mangudya not ot manufacturing


Alan 1 month ago

the coins that were used in John Week


Gafa 1 month ago

@cde Chipopi facts are stubborn but thus the truth economics ndedzavarungu so if you remove them from equation it wil never b solved.Chero mukaita masaga emapfupa ana mbuya neHanda nanaKaguvi hazvibudi 20yrs zvichingodhakwa hamuoni here maZanu


simbi yebasa 1 month ago

THIS IS NONSENSE MTULI , MANGUDYA ED MUST RESIGN AND THE WHOLE PARTY


Joe True 1 month ago

Censorship against free speech I see??? Big tech abuse.


1 month ago


simboti 1 month ago

ko isu vanotambira ma rtg tokwanisa kutenga coin regoridhe here kana kuti yanzira yekuda kukwekweta ma yusa ese ari mudzimba


Anonymous 1 month ago

If you want to purchase the gold coin, unopisa USD rako pa black market ne high rate wonotenge ne interbank. USD havabate


sadza dete 1 month ago

zvinotibatsirei zvima coin izvo.



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