Online Reporter
Tedious Ncube, Correspondent
IN July 2022, Zimbabwe launched an investment instrument that quickly drew the attention of both local and international investors; the Mosi-oa-Tunya gold coin. Named after Victoria Falls,
“The Smoke That Thunders”, the coin represented far more than a financial product. It was a deliberate, strategic effort to leverage the country’s gold reserves expand investment opportunities, and reinforce economic sovereignty.
Each coin, weighing one troy ounce and made of 22-carat gold, was priced at around US$53 per gram, making it accessible not only to institutions but to ordinary
Zimbabweans seeking ways to safeguard and grow their wealth. From the outset, it offered a rare promise in the region: a tangible, USD-denominated asset that anyone could own and use as a foundation for economic empowerment.
From day one, the Mosi-oa-Tunya coin signalled a new era in inclusive investment. Unlike conventional instruments that favour the wealthy, the coin allowed investors to purchase one ounce or more, store holdings at banks, use them as collateral, or keep them privately.
This flexibility reflected a deep understanding of how financial tools can empower citizens, mobilise domestic capital, and stabilise economic activity turning wealth creation into an opportunity accessible to all, not just the elite.
By October 2025, the impact is unmistakable. The coin’s price per gram has risen to approximately US$105, nearly doubling early investments.
A US$10 million stake from 2022 is now valued close to US$20 million, significantly outperforming most traditional assets.
To illustrate, an individual who bought a house in Harare for US$200 000 in 2022 may have realised modest appreciation of 10 to 15 percent over three years, meaning the property might now be worth approximately US$230 000.
That same US$200 000 invested in Mosi-oa-Tunya coins today exceeds US$400 000, clearly demonstrating the coin’s exceptional growth and liquidity compared to traditional real estate investments.
The coin’s performance is not just about numbers; it reflects a broader strategic vision. By turning gold reserves into a liquid, internationally recognised asset, Zimbabwe has expanded the domestic financial ecosystem. Citizens can now hold USD-denominated wealth within the country, protecting savings while supporting enterprise development.
In a region where access to global capital is often constrained, this is a forward-looking approach to economic sovereignty and resource management, marrying national policy with practical financial inclusion.
Globally, the Mosi-oa-Tunya coin aligns with contemporary investment trends. Around the world, investors are exploring digital assets, tokenised commodities, and blockchain instruments often volatile, intangible, or high-risk.
The coin, by contrast, offers stability, tangibility, and global credibility, demonstrating how traditional financial principles can be combined with modern thinking to create innovative, safe investment options.
The impact on ordinary Zimbabweans is tangible. A small business that bought 100 grams at launch now holds approximately US$10 500, sufficient to expand operations, hire employees, or invest in new ventures.
Corporations that invested a kilogramme see their holdings exceed US$105 000, providing liquidity for growth.
These examples illustrate how a thoughtfully designed investment instrument can simultaneously drive individual wealth creation and broader economic development.
From an investment ecosystem perspective, the coin shows Zimbabwe’s capacity to create an enabling environment for practical, inclusive investment. Citizens now have access to a tangible, USD-denominated asset that grows alongside global gold prices.
Its success proves that Zimbabwe can design instruments that combine inclusivity, stability and growth, benefitting both individual investors and the broader economy.
Mosi-oa-Tunya proves that well-designed policymaking delivers measurable results.
Through careful resource management, thoughtful regulation and inclusive design, the initiative has created wealth for citizens while instilling confidence in the economy.
Each investment benefits from the coin’s liquidity, global recognition and gold backing.
Authorities now have a unique opportunity to scale the initiative, broaden participation and further integrate private sector innovation, creating a platform that can make the coin a benchmark for Africa and potential global investment.
l Tedious Ncube is a public policy analyst and PhD candidate.
