gold coins Archives – Nehanda Radio

Mnangagwa clashes with IMF on gold coins, claims US$27,5m profit

President Emmerson Mnangagwa claims 28 000 gold coins have been sold since their introduction last year, helping to raise ZWL22,2 billion (US$27,5 million) and dealing a blow to the parallel market. Mnangagwa said this while heaping praise on the gold coins idea as an economic stabiliser. The President’s sentiments equally dismiss the International Monetary Fund (IMF)’s position that gold coins were actually worsening the financial problems instead of solving them.

Feb 14, 2023 Read more

The Mathematics of Mosi-Oa-Tunya gold coins…. is it adding up?

Dr Admire Maparadza Dube

The Mosi-oa-Tunya gold coins were made available for purchase by entities and the general public on Monday 25 July. The opening day price for each coin was US$1 823 or Z$805 000, reflective of the Willing Buyer Willing Seller (WBWS) exchange rate being applied in conversion.

Speculation has been rife on what effect these coins will have on overall performance of the economy. So is the fact that 2000 coins were put for sale on open day. It’s natural to cogitate on how many more coins are to be introduced to market as to have a desired effect but the authorities are yet to announce those numbers.

To borrow from colloquial lingo, is the mathematics balancing?

Jul 30, 2022 Read more

Mutambara says gold coin is “a self-enrichment scheme for the elites”

Former deputy prime minister Professor Arthur Mutambara has said the newly introduced gold coin is “a self-enrichment scheme for the elites” and will create an arbitrage opportunity

Jul 27, 2022 Read more

RBZ say gold coins circulating on social media are fake

The Reserve Bank of Zimbabwe (RBZ) has dismissed fake, videos and messages circulating on social media suggesting that some members of the public are already in possession of gold coins which are set to be released for purchase on the 25th of July.

Jul 08, 2022 Read more

RBZ legalises possession of gold coins amid potential elite looting

The Reserve Bank of Zimbabwe (RBZ) has issued a controversial directive that reportedly violates Section 3 of the Gold Trade Act which criminalizes the possession and trade of gold. Analysts have argued that the move by the RBZ will increase looting and smuggling of gold by a few powerful elites.

Jul 05, 2022 Read more