Betterbrands Delivers 18.8 Tonnes of Gold Worth US$1.9bn in 2026

Zimbabwean gold buyer Betterbrands delivered 18.8 tonnes of gold worth more than US$1.9 billion to Fidelity Gold Refinery (FGR) in the first nine months of 2026, highlighting its contribution to the country’s formal gold market.

The company says its cumulative deliveries since 2021 have reached 91.8 tonnes, although the annual figures it provided do not reconcile with that total.

Betterbrands Jewelry chief executive Fradreck Kunaka attributed the company’s performance partly to government policies aimed at improving gold trading and supporting production.

“Improved gold-buying arrangements, greater access to the formal market and measures aimed at easing the operating environment have helped businesses such as Betterbrands strengthen their contribution to Zimbabwe’s gold industry,” Kunaka said.

Zimbabwe has introduced incentives to encourage gold deliveries through formal channels.

In June 2024, the government zero-rated gold deliveries to FGR for value-added tax purposes, while in March 2025, Fidelity reduced the minimum threshold for its 5% gold-delivery incentive from 20 kilogrammes to 500 grammes.

The measures come as small-scale miners continue to dominate gold deliveries. Zimbabwe recorded 46.7 tonnes in 2025, with artisanal and small-scale producers accounting for 34.9 tonnes, compared with 11.8 tonnes from large-scale miners, according to figures reported in January 2026.

Betterbrands, founded by businessman Pedzai “Scott” Sakupwanya, is also expanding into processing.

Mining Zimbabwe reported in March 2026 that the company’s gold refinery in Bulawayo had been completed and was awaiting an official opening.

Kunaka said the company remained committed to working with miners, suppliers and regulators to expand formal trading and support growth in the sector.

Industry performance will also depend on international gold prices, production levels, investment and efforts to reduce informal trading, while the contribution of domestic refining will hinge on operational capacity and reliable supplies.

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