By Business Reporter – Wednesday 22 July 2020
HARARE (Mining Index) – FIDELITY Printers and Refiners (FPR) general manager Fradreck Kunaka says his institution can only be guided by government, through the Reserve Bank of Zimbabwe (RBZ) to institute creation of a gold vault.
He said his institution fully implements any government policy, should the creation of a gold bullion be one.
“Such issues are guided by policies introduced by the Government, if Government sees it fit to undertake that we will fully implement under Central Bank guidance,” said Kunaka.
Various associations have in recent years been advocating for the creating a gold bank, which can be used as a store of value to back up the Zimbabwean currency.
Business Economic Empowerment Forum (BEEF) president Solomon Matsa, in October 2018 first mooted the idea of a gold vault.
Zimbabwe Miners Federation (ZMF) president Henrietta Rushwaya also mentioned the need for Zimbabwe to have its own bullion. ENDS// www.miningndex.co.zw
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