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RBZ: No Gold Missing at Zimbabwe Central Bank

Reserve Bank of Zimbabwe Governor Gideon Gono
Reserve Bank of Zimbabwe Governor Gideon Gono
The Reserve Bank of Zimbabwe on Tuesday dismissed reports suggesting that gold is missing from the central bank's reserves.

Central bank deputy governor Khuphukile Mlambo told a news conference that recent press and online media reports suggesting that gold coins amounting to 403.5 grams were missing are misleading and inaccurate.

The reports claimed that reserve bank governor Gideon Gono was at the center of the of the misappropriation of the gold.

Mlambo, who displayed 529 pieces of gold coins dating back from 1894, said internal and external bank audits confirmed that the coins were not missing.

Gono, also present at the conference, said it could be possible that these reports were being manufactured by people who did not see the transfer of the coins from the old to the new reserve bank building.

The central bank chief also dismissed reports that State Security Minister Sydney Sekeramayi is among those accusing him of misappropriating the gold coins saying the minister is aware that those coins are not missing.

The media reports forced the reserve bank board to meet Tuesday to clear the air on the alleged misappropriation.
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Meanwhile, Gono said he is worried that the country continues to import finished products, failing to uplift production capacity of local industries by value-adding and in-turn creating employment for many Zimbabweans.

He said the central bank was impressed by the overall performance of the banking sector, adding that depositors are increasing on a daily basis.

Turning to the controversial indigeginization program, Gono said although the central bank agrees with the program, the black empowerment exercise should be done in an orderly fashion, in particular the banking sector.

Indegenization Minister Saviour Kasukuwere recently ordered all banks to submit indigenization proposals to his ministry or risk unspecified action.