Zimbabwe courts global investors at World Economic Forum

FINANCE Minister Mthuli Ncube has showcased Zimbabwe’s economic performance and investment opportunities at the 17th Annual Meeting of the New Champions in Dalian, China, as the government intensifies efforts to attract foreign direct investment.

Addressing delegates at the World Economic Forum event, Ncube said Zimbabwe’s economic fundamentals remained strong, citing newly released data showing the economy expanded by 8.2% in 2025, which he described as the highest growth rate in sub-Saharan Africa.

“The growth was supported by strong performances across agriculture, manufacturing, mining, information and communication technology, wholesale trade, financial services and insurance. The government would continue to focus on key drivers of economic growth while exploring emerging opportunities discussed during the forum,” said Ncube.

The Finance Minister also highlighted Zimbabwe’s mining policy reforms, which are aimed at promoting value addition and reducing reliance on exports of raw minerals.

He noted that lithium producers are no longer permitted to export unprocessed lithium and are instead required to undertake local processing.

In February, the government suspended exports of lithium concentrates and other raw minerals as part of efforts to promote beneficiation, improve accountability and increase value retention within the mining sector. A quota system was subsequently introduced, allowing limited exports of lithium concentrate under specified conditions while producers transition to local processing.

“Companies investing in mineral processing and manufacturing could qualify for additional incentives, including tax concessions and benefits available under special economic zone provisions,” he said.

Government plans to completely phase out lithium concentrate exports by January 2027, with all producers expected to have established local processing facilities by then.

On technology and innovation, Ncube highlighted the recent launch of Zimbabwe’s National Artificial Intelligence Strategy, which seeks to position the country as a regional hub for AI innovation.

The strategy is expected to support skills development, modernise key sectors such as agriculture and mining, improve healthcare delivery and accelerate digital transformation.

“Zimbabwe is seeking membership of alternative international financial institutions, including the BRICS New Development Bank and the Asian Infrastructure Investment Bank (AIIB). The application to join the BRICS New Development Bank is under consideration and discussions with the AIIB are continuing,” said Ncube.

He added that access to additional international financing institutions would broaden the country’s options for mobilising capital, particularly for private sector investment, which he identified as a critical driver of economic growth.

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