Zimbabwe approved investment projects worth US$1.59 billion in the second quarter of 2026, with mining and manufacturing attracting most of the proposed capital.
The Zimbabwe Investment and Development Agency (ZIDA) issued 284 new investment licences during the three months to June. Mining secured 86 licences with a projected value of US$768.5 million, making it the largest destination for investment.
Manufacturing followed with 43 projects valued at US$496.7 million. Together, the two sectors accounted for almost 80% of the investment approved during the quarter.
The figures point to continued investor interest in Zimbabwe’s mineral resources and the industries that can process them. They also support the government’s wider ambition to build more manufacturing capacity around the country’s mining sector.
Zimbabwe holds large deposits of gold, platinum-group metals, lithium and chrome. Rising demand for some of these commodities has increased interest in the country, particularly as global industries seek minerals for batteries, renewable energy and advanced manufacturing.
Lithium has become an important part of that story. Zimbabwe has emerged as Africa’s largest lithium producer, attracting substantial investment into mines and processing facilities.
The government now wants more value created inside the country before minerals reach export markets. Its beneficiation policy has encouraged mining companies to invest in processing rather than depend mainly on exports of raw or lightly processed material.
Growth in manufacturing investment could support that strategy. New processing plants can create demand for engineering, transport, construction and other services while keeping more stages of the mineral value chain within Zimbabwe.
Mineral exports are already a major source of foreign currency. Zimbabwe earned about US$2.53 billion from mineral exports during the first half of 2026, supported by gold, platinum-group metals and lithium products.
However, investment approvals tell only part of the story. The US$1.59 billion announced by ZIDA represents the expected value of projects that received approval. It does not mean investors have already deployed the full amount into mines, factories and infrastructure.
Turning approvals into operating businesses remains one of Zimbabwe’s biggest investment challenges. ZIDA has therefore placed greater emphasis on tracking projects after licensing and helping investors move from proposals to implementation.
Previous ZIDA data shows why that matters. Actual investment into monitored projects has historically remained well below the value initially proposed when investors applied for licences.
Infrastructure will also influence how much of the latest pipeline becomes reality. Mining and manufacturing need dependable electricity, water and transport. Power shortages have affected businesses across Zimbabwe, while large industrial projects require substantial and predictable energy supplies.
Mining companies face the same pressure. Processing lithium, chrome and platinum locally can add more value, but beneficiation also increases electricity demand.
Zimbabwe has been investing in new generation and seeking private participation in the energy sector. Improving supply will remain important if the country wants to turn mineral wealth into a larger manufacturing base.
Transport presents another opportunity. Zimbabwe sits between several major Southern African markets and trade corridors, giving it access to routes towards ports in South Africa and Mozambique.
Better rail and road infrastructure could reduce costs for mines and manufacturers while strengthening Zimbabwe’s role in regional trade.
The latest investment figures therefore carry a broader message. Investors are showing interest in the country’s resources, but Zimbabwe will gain more if that capital builds industries around those resources.
That means moving beyond the number of licences issued and focusing on factories built, mines expanded, electricity generated and jobs created.
Mining may still lead Zimbabwe’s investment pipeline, but manufacturing is becoming increasingly important to the country’s attempt to capture more value from its resources.
If the approved projects reach implementation, the US$1.59 billion pipeline could support that transition. The more important measure will be how much of the proposed capital moves from investment licences into productive assets across the economy.
