Outgoing RBZ Governor Issues 752,36 Kg ZiG

The outgoing Reserve Bank of Zimbabwe (RBZ) Governor Dr John Panonetsa Mangudya has issued 752,36 kilogrammes worth of gold-backed digital tokens since their introduction in October last year.

Governor Mangudya approved the Zimbabwe Gold or ZiG tokens as a means of payment for local transactions following his Monetary Policy Committee’s (MPC’s which he chairs) resolution to complement physical gold coins.

The Outgoing Governor today released the results of the RBZ Gold-backed Digital Tokens Issue No. 25/2025.

In a statement Governor Mangudya indicated the apex bank received applications valued at ZW$7,399,996,878.32 to purchase Gold-Backed digital tokens and the full amount was allotted.

The total milligrams of gold purchased is 6,44 444,643.00 (6.44 kgs of gold), while the Cumulative milligrams purchased is 752,364,234.00 (752.36.00 kgs of gold).

Mangudya said in his public notice following the issuance of the additional gold-backed digital tokens today that, cumulatively 752,364,234.00 milligrammes equivalent to 752,36kg have been issued to date.

The Apex bank boss said they had received 7 applications from the market to buy ZiG where billions in united States dollars was certainly realised by the monetary authority.

According to Mangudya 6,44 kgs of gold were bought at $1,148,24 per milligramme of gold.

Governor Mangudya also added that,
“Applications for the RBZ gold-backed digital tokens should be submitted through the banks and the GBDT will be issued daily on a tap basis.”

Both individuals and institutions have been able to buy the tokens using local or foreign currency from their bank with the tokens being available as an investment or store of value, being issued to expand the value-preserving instruments available in the economy, enhance the divisibility of the investment instruments, and widen their access as well as usage by the transacting public.

The Zimbabwe Gold token ZiG is at par with the value of the physical Mosi-a-Tunya gold coin and remains informed by the international gold price since it derives its value from gold reserves held by the RBZ.

Zimbabwe Gold accounts at financial institutions run alongside the nostro and local currency accounts.

Dr Mangudya introduced gold coins and ZiG to complement measures introduced by the Government where the Treasury has been implementing the value for money audits to do away with overpricing on public contracts and fronting loading exchange rates.

Speculative behavior by the greedy culminated in companies pocketing huge sums of Zimbabwe dollar liquidity, which they offloaded on the parallel foreign exchange market, driving interest rates that fuelled inflation resurgence.

Ross Moyo

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