Renowned auditors firm BDO has confirmed that the Reserve Bank of Zimbabwe (RBZ) now holds 2.7 tonnes of gold in its reserves.
This is up from 1.5 tonnes reported in April last year.
Above taxes and other fees, Zimbabwe’s gold miners pay up to 5 percent of their revenues as royalties.
Half of this 5 percent is paid in gold, which RBZ uses to build reserves.
The audit, which followed international standards, confirmed that the gold balance was fairly stated in all material respects.
“We have audited the gold balance of the Reserve Bank of Zimbabwe as at 31 December 2024,” said BDO Zimbabwe in a statement.
“In our opinion, the gold balance is fairly stated, in all material respects, in accordance with the Reserve Bank of Zimbabwe Act (Chapter 22:15) and its accounting policies which use IFRS as a guide.”
Zwnews
