Financial Reporter

As the launch of the small Mosi-oa-Tunya gold coins draws nearer , most Small to Medium Enterprises (SMEs) owners have expressed enthusiasm as the move is set

to warrant them inclusivity to the market and a chance to invest some of their savings in gold.

The  initiative of adding half an ounce, quarter ounce, and tenth-ounce coins (smaller gold coins) follows the successful launch of the one-ounce Mosi-oa-Tunya gold coins and its sales since July 25 with banks having so far sold 4 475 Mosi-oa-Tunya since the launch, with 90 per cent having been bought in local currency. The launch of smaller gold coins is expected to further bring about the much-needed stability in the economy, particularly inflation,

According to an economic analyst, inclusivity is the missing link to the stabilisation of exchange rates as ordinary citizens have the power to push parallel markets higher.

SMEs who spoke to this publication said that the smaller gold coins would go a long way in cushioning them from the negative impact of declining cash values.

"We as SMEs are excited by this as the initiative presents a value preservation investment for alternative business owners like us amid the current inflation. By introducing smaller gold coins, the authorities seek to include the rest of the citizens, who may have felt excluded,” Mr Charles Mashasha, a small-time business owner.

Another business owner said that he was happy that the gold coins would soon be available to the ordinary people. 

"The coin was way out of reach for low-income earners and ordinary Zimbabweans. At least now a cheaper option will be available for those who seek to hedge their savings against inflation, but are unable to afford the current cost, “said Mrs Natalie Tembo, a vendor.

 President Mnangagwa noted in his opinion column in The Sunday Mail that policies being implemented by the Government to stabilize the economy and strengthen the local currency by removing large sums from circulation and promoting its desirability, have started bearing fruits, with the Zimbabwe dollar becoming scarce.

"We have also started seeing US dollars, all along stashed, circulating more and more in the formal market. The impact has been positive, including a gradual convergence of different exchange rates in the economy. All these are very auspicious signs towards the stabilisation of our economy,” he said.