GOLD producer RioZim Limited says favourable selling prices coupled with the Reserve Bank of Zimbabwe (RBZ)’s upward review of the nostro (US$) retention has greatly increased the group’s revenue and eased the foreign exchange shortages experienced throughout 2023.
In November last year, the RBZ standardised the ratio exporters across all sectors were allowed to retain from foreign currency receipts to 75 percent, up from 60 percent, while also removing special dispensations previously granted to specific sectors.