Zimbabwe to continue mineral purchases in 2026,says RBZ governor

Zimbabwe plans to continue strategic mineral purchases in 2026 to strengthen its foreign currency reserves and support the transition to the ZiG as the country's sole currency by 2030. According to Reserve Bank of Zimbabwe (RBZ) Governor John Mushayavanhu, the central bank aims to accumulate optimal reserves equivalent to three to six months of import cover. This strategy will be driven by strict export surrender enforcement, strategic mineral purchases, and a robust external sector . Follow WhatsApp Channel

The RBZ has aggressively accumulated reserves through mandatory mining royalties, direct gold purchases, and capitalizing on higher global gold and platinum prices. As of December, Zimbabwe's foreign currency reserves increased sharply to $1.1 billion from $276 million in April, representing about 1.2 months of import cover.

The continued mineral purchase strategy is expected to stabilize the ZiG, strengthen confidence, and insulate the economy from external shocks as Zimbabwe moves toward full currency normalization. The ZiG, introduced in April 2024, now accounts for roughly 40% of daily  transactions .