Zimbabwe’s official gold reserves have risen to 4.4 tonnes, a milestone President Emmerson Mnangagwa says positions the country among Africa’s leading holders of state-backed gold reserves and reinforces efforts to stabilise the national economy.
Addressing the ZANU PF Politburo during a briefing on the state of the economy, President Mnangagwa revealed that Zimbabwe now ranks 11th in Africa and third within the Southern African Development Community (SADC) in officially declared gold reserves.
The President said the increase reflects ongoing government efforts to strengthen strategic national reserves, enhance monetary resilience, and bolster confidence in the country’s financial system.
Gold reserves are widely regarded as a critical pillar of economic security, often used by central banks to support currency stability, cushion economies against external shocks, and improve investor confidence.
Zimbabwe’s reported reserve growth places the country ahead of several African states in terms of officially held gold assets, underlining the growing importance of the precious mineral in the country’s broader economic strategy.
While authorities did not immediately disclose the timeline of the accumulation process or the specific sources of the acquisitions, the development is expected to intensify attention on Zimbabwe’s gold sector, which remains one of the country’s most strategic economic drivers.
The SADC bloc comprises 16 member states, making Zimbabwe’s reported third-place regional ranking a notable achievement within Southern Africa’s economic landscape.
By Witness A Phiri
Breeze FM