Govt building gold and diamond reserves to back Zim dollar

Speaking during an advocacy meeting on the new Constitution that was organised by the Ministry of Justice, Legal and Parliamentary Affairs in Chiredzi, Vice-President Emmerson Mnangagwa revealed that Government is building gold and diamond reserves to back the re-introduction of the Zim dollar.

Said Mnangagwa:

We are building reserves of gold and diamonds which if they reach a certain level I will not tell you here, it will then allow us to introduce our own currency that will be backed by those minerals. I am not at liberty to disclose to you the level that we want those minerals to reach before they can back our own currency.


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Emmerson MnangagwaChiredzi

Emmerson Dambudzo Mnangagwa a politician and the First Secretary of the Zimbabwe African National Union-Patriotic Front. On the 3rd of August 2018 ZEC Chairperson Priscilla Chigumba announced that Mnangagwa had won the popular vote by 50.8% ,hence he was duly elected to be the president... Read More About Emmerson Mnangagwa

Chiredzi is a small town in Masvingo Province, founded in 1961. It is located near the Runde River, which has a tributary called the 'Chiredzi'. As the administrative center for Chiredzi District, it is where both the rural and district councils are based. Read More About Chiredzi

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Govt building gold and diamond reserves to back Zim dollar