Earlier in March, it emerged that Ghana was considering new export pathways for its gold shipments due to ongoing tensions in the Middle East. Meanwhile, Zimbabwe is encountering a comparable situation driven by the same issue.
Ghana’s challenges were linked to interruptions in flights to the United Arab Emirates, which has traditionally served as a key hub for Ghana’s gold exports.
The importance of the UAE in Africa’s gold trade is further underscored by its role as a major destination for Zimbabwe’s gold exports as well.
Data submitted to the Ministry of Industry and Trade shows that the UAE accounted for 45% of Zimbabwe’s total gold export earnings last year.
Consequently, the ongoing conflict across the wider Middle East has negatively impacted gold trade between Zimbabwe and the UAE.
According to BitGet, standard shipping routes have been disrupted by the conflict, with major carriers such as Maersk halting operations through the Strait of Hormuz.
As a result, ships are being redirected around the Cape of Good Hope, extending delivery times by approximately 10 to 14 days for cargo traveling between Asia, Europe, and the United States.
Freight costs have risen sharply, with container prices for routes between Turkey and China jumping from about $2,000 to $10,000.
Experts describe the situation as highly unstable, stressing that the disruptions are affecting not just oil but a wide range of commodities.
This has squeezed profit margins and made planning more difficult for Zimbabwean exporters due to higher shipping expenses and delays in receiving imported inputs.
Beyond external pressures, Zimbabwe’s gold export sector is also dealing with internal policy challenges.
In November of the previous year, Zimbabwe increased royalty rates on gold producers in an effort to benefit from record-high gold prices, as outlined in its 2026 national budget.
Under the revised policy, mining companies must pay a 10% royalty when gold prices rise above $2,501 per ounce.
The policy was introduced to boost government revenue and support domestic industry, but it could pose difficulties for producers already facing export challenges.
This change also coincided with a 5% decline in gold prices from a peak of $4,381.21.