Zimbabwe Gold Reserves Hit 4.4 Tonnes As Zambia Quietly Builds Its Own Stockpile

Zimbabwe Gold Reserves Hit 4.4 Tonnes As Zambia Quietly Builds Its Own Stockpile

Zimbabwe says its official gold reserves have risen to 4.4 tonnes, making it one of Africa’s leading holders of national gold reserves and strengthening support for its ZiG currency.

President Emmerson Mnangagwa revealed the figures after inspecting Reserve Bank of Zimbabwe vaults in Harare, where officials confirmed that reserves had increased by nearly one tonne since his previous visit.

Authorities in Zimbabwe say the strategy is part of a broader push to strengthen monetary stability using gold-backed reserves instead of relying heavily on external financial systems.

The development has also drawn attention in Zambia, where the Bank of Zambia has been steadily increasing local gold purchases in recent years.

Recent estimates suggest Zambia now holds approximately 3.2 tonnes of gold reserves valued at around US$446 million, a major rise compared to reserve levels recorded just a few years ago.

The gold is mainly sourced locally through mining operations and reserve purchases aimed at strengthening the country’s international reserve position and protecting against currency volatility.

Economists across Africa increasingly see gold reserves as a strategic financial shield, especially as countries look for stronger control over currency stability and economic resilience.

Zimbabwe says it aims to push its reserves to five tonnes before the end of the year, while conversations around Zambia’s long-term reserve ambitions continue growing.