Zimbabwe caps gold incentive at $300m

The government capped its gold-buying incentive program at $300 million through 2026. The program pays gold producers a premium in foreign currency over the official exchange rate, encouraging them to sell to the central bank instead of on the black market. The move comes as Zimbabwe grapples with currency depreciation and a widening gap between official and parallel market rates. The Reserve Bank has not disclosed how much it has spent on the scheme to date.