Zimbabwe Approves $1.59 Billion in New Investments as Mining and Manufacturing Take Nearly 80 Percent

Zimbabwe has approved $1.59 billion in new investment projects for the second quarter of 2026, signaling a strong push to develop its industrial economy centered on its abundant mineral wealth. The Zimbabwe Investment and Development Agency (ZIDA) issued 284 new investment licenses during this period, with mining and manufacturing sectors attracting nearly 80% of the proposed capital.

Mining emerged as the leading sector, securing 86 licenses valued at $768.5 million, nearly half of the total projected investment. Manufacturing followed with 43 projects worth $496.7 million. This concentration underscores Zimbabwe's strategy to leverage its significant reserves of gold, platinum-group metals, lithium, and chrome, especially amid global demand for minerals used in clean-energy technologies.

The government is actively pursuing a beneficiation strategy, encouraging or mandating companies to process minerals domestically rather than exporting raw materials. This approach aims to generate greater value, create jobs, and retain more export revenue within the country. Mineral export receipts reached approximately $2.53 billion in the first half of 2026, with processed products like lithium sulphate contributing significantly.

While mining attracted the largest total value, the average manufacturing investment per license was higher than in mining. This suggests a growing trend towards adding value to mineral resources through domestic processing, a key objective for Zimbabwe as it seeks to rebuild its economy after years of currency instability and low investor confidence.