Inside the RBZ Vault: Specifics of the Gold Backing the ZiG Revealed
The Reserve Bank of Zimbabwe (RBZ) has given the public a closer look at the gold currently sitting in its vaults, as it works towards stockpiling five tonnes of bullion by the end of 2025 to strengthen the backing of the new ZiG currency.
During a recent visit to the central bank, President Emmerson Mnangagwa was shown 3,400kg of gold, more than double the 1,500kg held last year—a sign of progress in the government’s effort to restore confidence in the local currency.
Also read: Reserve Bank of Zimbabwe (RBZ) Breaks Silence on ZiG Cash Shortages
How Much Gold is in the RBZ Vault?
Inside the RBZ vault are 326 gold bars, each weighing 10kg and refined to at least 99.5% purity, which meets global standards. The bank also holds 13kg of Krugerrand coins and 2kg worth of redeemed Mosi-Oa-Tunya coins.
According to RBZ Governor John Mushayavanhu, most of the gold was acquired through two channels: in-kind deliveries from miners and royalty payments converted from other minerals like platinum, lithium, and diamonds.
He credited President Mnangagwa’s leadership, saying the strategy to diversify mineral-based royalties has allowed the central bank to build reserves without relying solely on gold mining.
“With Your Excellency’s wisdom and guidance, the Reserve Bank has accumulated gold largely from these two sources,” the governor said.
New Focus on Security and Transparency
But the central bank isn’t just collecting gold — it’s also putting systems in place to safeguard the reserves and improve accountability.
Mushayavanhu said the RBZ is developing a high-tech gold tracking system and upgrading storage facilities. The idea is to ensure that every ounce of gold is traceable and secure, using tools that meet international best practices.
“Our aim is not only to build reserves, but to safeguard them with world-class integrity measures. We are developing appropriate technology-based gold tracking systems aimed at improving the integrity of the nation’s gold reserves,” Mushayavanhu explained.
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