The Reserve Bank of Zimbabwe (RBZ) says it has so far disbursed ZWL$130 million to gold producers in a development expected to improve production.
In a statement over the weekend, RBZ Governor Dr John Mangudya said the funds have been disbursed through the central bank’s subsidiary, Fidelity Printers and Refiners.
“The central bank will continue to support gold producers for them to realise their targets,” he said.
However, concern has been raised over the high production costs which are limiting the ability of the producers to increase output.
In a related development, the central bank has distanced itself from reports alleging that its officials are involved in gold smuggling and underhand dealings of the precious metal.
Dr Mangudya said the institution is committed to transparency and accountability as it seeks to realise the growth of the gold mining sector.