From the article:
“ The Reserve Bank shall only issue ZiG notes and coins against reserves assets actually held and managed by it, and the value of the ZiG issued and in circulation at any one time shall be anchored in and backed or covered by a composite basket of foreign currency reserves and precious metals received (mainly gold) and valuable minerals, held and maintained by the Reserve Bank in its vaults as part of the in-kind royalties.”
Not 100 percent gold backed, but a mix of gold AND foreign currencies AND commodities held in their territory . A good start in ending their currency crisis.
The world is realizing they can not use the printing presses ( listen up America) to create “ wealth”. The move to backing currency with commodities, food, gold, etc…tangible assets is finally happening. Expect a monumental “ shift “ in sovereign currency values- in other words- “ those that are last will become first, those first will become last”.