Today, His Excellency President Emmerson D. Mnangagwa toured the
Reserve Bank of Zimbabwe on his annual visit to the Central Bank, where he inspected the
country’s physical gold.
He expressed satisfaction with the Bank’s reserves accumulation strategy, which has seen
foreign currency reserves rise to over US$1.4 billion and predominantly held in physical gold
reaching over 4 metric tonnes.
His Excellency also welcomed the adequacy of ZiG banknote stocks, which are sufficient to
meet market needs for at least four years.
President Mnangagwa also highlighted several key monetary policy milestones achieved
including the attainment of singledigit inflation for the first time in over 30 years, as well as
the recent launch of the BiG5 ZiG upgraded banknotes.
RBZ Governor, Dr John Mushayavanhu affirmed that the Bank will continue to strategically
accumulate foreign currency and gold reserves as Zimbabwe targets the internationally
recommended importcover threshold of 3-6 six months.

“We are aiming for anything between 3-6 months import cover. Currently we are at 1.5
months cover,” said Dr. Mushayavanhu.
In terms of gold reserves, Zimbabwe is currently ranked 11 th and 3 rd in Africa and SADC
respectively.