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By Ross Moyo
Zimbabwe recorded a 23,1 % forex receipts increase Of usd$7,25 billion, with mining accounting the bulk of usd$2,81 billion and diaspora remittances usd$1,09 billion as International money transfers, comprising the diaspora remittances and non-governmental organisation inflows, totalled US$1,64 billion, representing 22,7 percent of total receipts, as personal transfers surged 8,4 percent. This however registered a 1,1 percent dip recorded in NGO inflows.
With total diaspora remittances totaling US$1,09 billion, up 8,4 percent year on year from just over US$1 billion in the same period in 2024, Mining exports overall contributed US$2,81 billion, up 38,6 percent year-on-year.
This was revealed by Reserve Bank of Zimbabwe (Rbz) Governor, Dr John Mushayavanhu, who hailed the uptick in his 2025 mid-term policy review.
“It is a clear vote of confidence in Zimbabwe’s formal remittance channels,” noting that “The sustained inflows have been critical in replenishing our reserves and smoothing exchange-rate volatility.”
Governor Mushayavanhu praised policy consistency, “walking the talk”, and continued stakeholder engagement remain critical to sustaining these gains.
Dr Mushayavanhu added: “We remain agile, ready to respond to global uncertainties, but our framework of prudent reserve-money management and market-determined exchange rates provides a solid anchor for future inflows and economic stability”
Confirming indeed Zimbabwe recorded a 23,1 percent increase in foreign currency receipts during the first-half against the same period last year, Dr Mushayavanhu underscored increasing confidence in its formal channels while demonstrating the resilience of the external sector.
Total foreign currency inflows reached US$7,25 billion, up from US$5,89 billion in the same period January to June of 2024 whilst Export earnings accounted for 54,5 percent of total receipts, amounting to US$3,95 billion, a 25,7 percent rise on the back of surging gold and platinum deliveries.
On minerals, gold exports alone jumped 57,6 percent to US$1,38 billion, while platinum receipts rose 24,9 percent to US$797 million, buoyed by bullish prices of gold and record output in both sub-sectors.
External inflows underpinned a 150 percent jump in foreign currency reserves, from US$285 million in April 2024 to over US$730 million by June 2025.
“Maintaining and growing reserves remains a top priority,” Dr Mushayavanhu emphasised. “We will continue to accumulate foreign currency reserves to meet the regional benchmark of three to six months of import cover, ensuring enduring stability of the ZiG.”
Current account surplus is projected to edge higher, from US$501,2 million in 2024 to US$621,7 million in 2025, as Zimbabwe is poised to weather external headwinds more effectively.
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