Over 9500 gold coins sold since launch, raking in ZW$9bn- RBZ

According to the Reserve Bank of Zimbabwe (RBZ), about 9516 gold coins have been sold since launch, valued at ZW$9 billion in total.

Figures by the central bank shows that individuals have bought 35% of the coins, spending Z$3.15 billion.

The bulk, 65%, has been bought by corporates, including asset managers and insurance companies.

Meanwhile, RBZ is holding rates at 200%, until there is sustained stability judged by a prolonged period of less than 5% month-on-month inflation.

However, industry group Confederationof Zimbabwen Industries, plus major companies Dairibord and Simbisa, have warned high borrowing rates may further hit growth.

Zwnews