RBZ Disburses $130 Million To Gold Producers

ZBC reports that the Reserve Bank of Zimbabwe has disbursed ZWL$130m to gold producers through the bank’s subsidiary, Fidelity Printers and Refiners. The money has been disbursed as part of the Gold Development Initiative Fund (GDIF).

RBZ Governor Dr. John Mangudya said the money is meant to “support gold producers for them to realise their targets,”

In June 2019, The RBZ said that it was planning to increase GDIF from $150 million to $1 billion in order to capacitate and lure the yellow metal miners to sell their mineral through formal channels.