Africa’s gold hub shifts to Zimbabwe as 2026 output booms

Zimbabwe’s gold industry is showing renewed strength in 2026, with bullion deliveries surpassing 12,600 kilogrammes in the first four months of the year as global demand and rising output from large-scale miners continue to boost the sector.

• Zimbabwe’s gold industry delivered more than 12,600 kilogrammes of bullion between January and April 2026, driven by stronger output from large-scale miners.
• April deliveries from major mining operations rose more than 28% year-on-year, highlighting renewed momentum in the sector.
• Gold remains critical to Zimbabwe’s foreign currency earnings and the stability of its Zimbabwe Gold (ZiG) currency system.
• Analysts expect sustained global investor demand and central bank purchases to keep supporting the country’s gold sector.

Official figures reported by The Herald, a partner of TV BRICS, showed total gold deliveries reached 12,636.51 kilogrammes between January and April, reinforcing gold’s growing importance to Zimbabwe’s fragile economy and foreign currency reserves.

The strongest momentum came from large-scale mining operations, where April deliveries jumped 28.27% year-on-year to 1,213.93 kilogrammes. The increase signals expanding production capacity in a sector that remains central to Zimbabwe’s export earnings.

Gold has become increasingly strategic for the southern African country as authorities rely on the precious metal to support the Zimbabwe Gold (ZiG) currency system and stabilise the broader economy after years of currency volatility and inflation pressures.

The latest figures build on a record-breaking 2025 for Zimbabwe’s mining industry. Last year, the country generated US$4.61 billion from gold exports, while total deliveries to the national refinery reached 46.73 tonnes, comfortably exceeding the government’s annual target of 40 tonnes.

The performance has strengthened Zimbabwe’s position among Africa’s major gold producers at a time when global investors and central banks are increasing their exposure to bullion amid economic uncertainty and geopolitical tensions.

Analysts say sustained central bank purchases and continued investor appetite for safe-haven assets could keep global gold prices elevated, creating favourable conditions for Zimbabwe’s mining sector in the months ahead.

For Zimbabwe, the stakes extend beyond mining revenues. Gold is increasingly becoming one of the country’s most important economic lifelines.