RBZ Probes Small Scale Miners As Gold Deliveries Dwindle

The Reserve Bank of Zimbabwe (RBZ) has launched an investigation into small scale gold miners’ operations following a decrease in deliveries over the past few weeks,

Deliveries to Fidelity Printers and Refiners (FPR) declined from an average of 90 kilogrammes (kg) per day to 20 kg per day shortly after the RBZ presented its monetary policy statement. Businessman Joseph Kanyekanye said miners were not happy with the new policies. Kanyekanye said miners were not happy with the decrease of the foreign currency retention percentage from 70 to 55 percent. The rest of the money will be paid for in local currencies at the prevailing rate at the 2,5 percent new interbank market rate.

More: Financial Gazette


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Joseph KanyekanyeReserve Bank of Zimbabwe

Joseph Kanyekanye' is a business executive in Zimbabwe. He is known mostly for being the former CEO of Allied Timbers Zimbabwe, a company he was with for 14 years. He left Allied Zimbabwe in 2015 following differences with the board chairman, Emmanuel Fundira. He's the... Read More About Joseph Kanyekanye

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About Reserve Bank of Zimbabwe

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