Zimbabwe shows images of gold coins meant to tackle inflation
Zimbabwe’s central bank unveiled the first images of gold coins it hopes will help solve its inflation problem.
The coins named “Mosi-oa-Tunya” after Victoria Falls, Africa’s largest waterfall that spans 1.7-kilometer (1.1 mile) located between Zambia and Zimbabwe, will be available to the public from July 25, the southern Africa nation’s central bank said on Friday.
It’s the latest in a series of efforts by authorities to stem a decline in the Zimbabwean dollar that’s spurred inflation to nearly 200%. The government hopes it will break the demand for dollars. Surging prices have sparked calls from state workers including teachers and nurses to be paid in the US currency.
The 22-carat coin will be sold at the international bullion spot price including a 5% charge to cover production and delivery costs. Gold was trading at $1,724.12 an ounce at 1:59 p.m. in London on Friday.
Once bought from banks and approved dealers, the coin must be kept for at least 180 days, “in line with the need to promote a savings culture in the country,” the central bank said in a statement.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















