• Latest
  • Trending
Zimbabwe turns to gold coins again in bid to stabilise currency

Zimbabwe turns to gold coins again in bid to stabilise currency

April 30, 2025
Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

Call of Duty movie: Paramount, Activision strike deal for live-action adaptation

September 5, 2025
Meta Brings Back Facebook Poke with Emojis and Streaks

Meta Brings Back Facebook Poke with Emojis and Streaks

September 5, 2025
Know why they’re calling: Truecaller launches AI-powered insights

Know why they’re calling: Truecaller launches AI-powered insights

September 5, 2025
Visa harnesses local partnerships to launch Visa Pay in DR Congo

Visa harnesses local partnerships to launch Visa Pay in DR Congo

September 5, 2025
Betika denies recent reports of security breach

Betika denies recent reports of security breach

September 5, 2025
10 things you can actually buy with crypto in Africa

10 things you can actually buy with crypto in Africa

September 5, 2025
CBE seals deal with Botim to enhance remittance services for Ethiopians living in UAE

CBE seals deal with Botim to enhance remittance services for Ethiopians living in UAE

September 5, 2025
Nigeria Senate, SIBAN push for crypto regulation to boost digital economy

Nigeria Senate, SIBAN push for crypto regulation to boost digital economy

September 5, 2025
Mamo Mihretu Resigns as Governor of Ethiopia’s Central Bank

Mamo Mihretu Resigns as Governor of Ethiopia’s Central Bank

September 5, 2025
Paratus Group introduces first private mobile network using LTE and 5G in Namibia

Paratus Group introduces first private mobile network using LTE and 5G in Namibia

September 5, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Cryptocurrency

Zimbabwe turns to gold coins again in bid to stabilise currency

Abimbola Samuel by Abimbola Samuel
April 30, 2025
147 5
0
Zimbabwe turns to gold coins again in bid to stabilise currency

Zimbabwe turns to gold coins again in bid to stabilise currency

471
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Zimbabwe has resumed the minting and sale of gold coins, less than a year after suspending the program, as part of renewed efforts to stabilise its currency amid surging global bullion prices and declining confidence in digital assets.

The Reserve Bank of Zimbabwe (RBZ) is again issuing the 22-carat “Mosi-Oa-Tunya” coins, named after the iconic Victoria Falls. Initially launched in July 2022 as a hedge against inflation and currency volatility, minting was paused in July 2024 to promote a gold-backed digital token. However, with gold prices up for not less than 25 percent this year, the central bank is shifting back to physical assets.

Read also: Gold surpasses $3,000 as U.S. trade tensions, global instability fuel surge

“Time of Attractiveness” for Bullion

“Gold is more attractive to the market at the moment and it supports our value preservation efforts,” said Persistence Gwanyanya, a member of the RBZ’s monetary policy committee. “We are taking advantage of firm gold prices and re-injecting the gold coins into the market.”

RelatedPosts

Powertel unveils digital tools to stabilise Zimbabwe’s power grid 

Bako app links Zimbabweans in crisis to responders in seconds

Zimbabwe partners Huawei to boost AI and digital transformation

The gold coins are now available through authorised dealers, including the Central Africa Building Society (CABS) and Nedbank Zimbabwe.

“We are pleased to inform you that the Reserve Bank of Zimbabwe has reintroduced the issuance of gold coins through authorized dealers,” CABS said in an interview with Bloomberg.

Nedbank, for its part, noted the investment potential of the coins, calling them an alternative investment option that offers a valuable asset to enhance portfolios. The coins are being sold in sizes ranging from one-tenth of an ounce to a full ounce, making them more accessible to a wider range of buyers than before.

The return to gold coins comes after limited success with the country’s gold-backed digital currency. Introduced in 2023 and initially met with interest, the token, later renamed the Gold-Backed Digital Token (GBDT) to avoid confusion with the ZiG currency.

Read also: Button bash offers $500 reward for Zimbabwe’s first-ever gaming event

The gold export sector in Zimbabwe may benefit

Despite initial subscriptions worth $12 million, only 35 new applications were reported by mid-2023. Many Zimbabweans, still cautious after the economic collapse of the 2000s, have remained skeptical of untested monetary tools.

Even support from the central bank failed to prevent the local currency from sliding, with a 65 percent devaluation against the U.S. dollar recorded this year.

The timing of the gold coin revival may benefit the country’s gold-dominated export sector. According to RBZ data, Zimbabwe’s gold shipment revenues climbed to $395.9 million in the first quarter of 2025, up from $303.1 million the previous year.

Tags: Gold coinsRBZZimbabwe
Abimbola Samuel

Abimbola Samuel

Experienced crypto writer with 2+ years of expertise. Skilled researcher and analyst delivering high-quality articles. Providing insightful perspectives on the latest crypto trends.

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.