Gold Exports Drive Surge in Foreign Currency Recei...

Gold Exports Drive Surge in Foreign Currency Receipts

Oscar J Jeke- Zim Now Reporter

Zimbabwe’s foreign currency receipts recorded significant growth in the first half of 2025, largely driven by an increase in gold exports, Finance and Economic Development Minister Mthuli Ncube has revealed.

Presenting the Mid-Term Fiscal Policy Review, Ncube said: “The growth in foreign currency receipts is primarily being driven by an increase in export receipts—particularly in gold (US$2 billion during the first six months), diaspora remittances (US$924.2 million during the first five months), and loans to the private sector (US$1.1 billion during the first five months).”

The US$2 billion earned from gold alone marks a substantial boost to the country’s foreign inflows, reinforcing the mineral’s position as Zimbabwe’s top export earner.

The government expects this trend to strengthen in the second half of the year, supported by improved global prices and enhanced local production following increased investment in mining and small-scale gold operations.

The surge in diaspora remittances and private sector loan inflows has also contributed to broader foreign currency availability in the economy.

Ncube noted that the overall growth in foreign receipts is helping to stabilise the local currency and support critical imports, including fuel, electricity, and raw materials.

The Mid-Term Review sets the tone for upcoming fiscal and monetary adjustments, as authorities aim to maintain exchange rate stability and contain inflationary pressures.