Browsing: Mosi-oa-tunya

  • Exporting entities shall buy Mosi-oa-Tunya gold coins from their retained export portions in foreign currency. Notwithstanding this requirement, exporters whose annual export receipts in 2021 were less than US$1 million shall require a specific exchange control approval
  • The bank or its agents will buy back the gold coins after a vesting period of 180 days in line with the need to promote a savings culture in the country
  • The bank shall publish the Mosi-oa-Tunya gold coin price by 0800 hours daily, which shall be based on the previous day’s London Bullion Market Association (LBMA) PM Fix plus the cost of producing the coin

Zimbabwe’s central bank today will introduce gold coins aimed at battling a resurgence in inflation and easing the public’s thirst for US dollars.

According to the Reserve Bank of Zimbabwe (RBZ), the gold coins shall have the qualities such as liquid asset status, prescribed asset status, collateral …

  • The new coins will be available for sale from July 25, 2022, in local currency, US dollars, and other foreign currencies
  • The gold “Mosi-oa-tunya” coins, will contain one troy ounce of gold with a purity of 22 carats
  • The coins will be sold through the Bank and its subsidiaries, Fidelity Gold Refinery (Private) Limited and Aurex (Private) Limited, local banks, and selected international banking partners

More than a fortnight ago, the Reserve Bank of Zimbabwe (RBZ) announced plans to introduce gold coins following a resolution agreed on by the bank’s Monetary Policy Committee (MPC) as a new investment instrument that also doubles up as a store of value for local investors.

In a statement, the Central Bank Governor, Dr. John Mangudya announced the features and characteristics of gold coins which are to be introduced soon.

The gold “Mosi-oa-tunya” coins, named after Victoria Falls, will contain one troy ounce of gold …