Zimbabwe: RBZ to Offload Fidelity Printers Stake

18 December 2020

The Reserve Bank of Zimbabwe (RBZ) is ceding a controlling stake in the country's sole gold buyer and refiner, Fidelity Printers & Refiners, in an effort to boost compliance levels in the trading of the yellow metal.

Authorities say at least US$100 million worth of gold is smuggled out of the country every month amid disgruntlement from producers with regards to pricing and payment modalities for gold delivered to Fidelity Printers & Refiners (Fidelity).

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