By Dickson Bandera
The Reserve Bank of Zimbabwe (RBZ) has officially announced the suspension of gold coin sales, marking the successful conclusion of a mop-up operation that aimed to clear residual stock. The announcement was made in a press statement issued on 16 June 2025 by RBZ Governor Dr. John Mushayavanhu.
The suspension, which takes immediate effect, pertains to a limited sale of coins that had either remained from previous allocations or were redeemed by holders.
The central bank clarified that the exercise did not involve the minting of new coins, as the production of gold coins was halted in April 2024.
The introduction of gold coins in July 2022 under the “Mosi-oa-Tunya” series formed part of the Bank’s robust efforts to provide sound alternative investment options and mop up excess liquidity in the economy.
Each gold coin, backed by one troy ounce of gold, could be purchased in local or foreign currency at the prevailing interbank exchange rate and became redeemable after a 180-day holding period.
The gold coins were introduced at a time when the country was experiencing inflationary pressures linked to currency volatility, external shocks, and speculative behaviour.
The initiative was welcomed by investors, pension funds, and ordinary citizens seeking to preserve value in a stable, trusted instrument.
Over time, the coins proved to be a reliable monetary policy tool, complementing other efforts by the RBZ to maintain financial stability, preserve value, and promote a savings culture.
“Investors are advised that gold coins in the market remain tradable and redeemable,” read part of the statement.
The RBZ indicated that any future sale of gold coins would only be considered when a significant volume of redeemed coins has been accumulated.
Looking ahead, the Bank reaffirmed its commitment to providing innovative financial instruments to support monetary policy objectives and national economic growth.
“The Reserve Bank would like to take this opportunity to reaffirm its commitment to continuously avail alternative financial market instruments to promote savings, as well as achieve its monetary policy objectives,” said Dr. Mushayavanhu.
Zimbabwe continues to pursue a structured path toward currency and price stability, supported by prudent fiscal measures and the introduction of value-based instruments such as the ZiG (Zimbabwe Gold) currency and the gold-backed digital tokens launched by the RBZ.
These interventions reflect the Government’s broader vision of building a resilient, inclusive, and diversified economy anchored on trust, innovation, and sustainable growth.
