Zimbabwe has approved $1.59 billion worth of new investment projects in the second quarter of 2026, with mining and manufacturing accounting for nearly 80% of the total.

The Zimbabwe Investment and Development Agency (ZIDA) issued 284 new investment licences during the three months to June. Mining remained the largest destination, attracting 86 licences valued at $768.5 million. Manufacturing followed with 43 projects worth $496.7 million.

"Mining remained the leading investment sector, accounting for 86 licences valued at US$768.5 million, followed by manufacturing with 43 licences worth US$496.7 million," ZIDA chief executive Tafadzwa Chinamo said during a media briefing. "Together, mining and manufacturing accounted for almost 80% of the projected investment value approved during the quarter."

The concentration reflects Zimbabwe's push to capture more value from its mineral resources before they leave the country. The government has tightened its beneficiation strategy, encouraging companies to process minerals domestically rather than exporting raw ores.

Mineral export receipts reached approximately $2.53 billion in the first half of 2026, with platinum-group metal matte and spodumene concentrates among the biggest contributors. Lithium sulphate, a higher-value processed product, generated about $73.2 million during the period.

While mining accounted for the larger total value, the average manufacturing investment was about $11.6 million per licence, compared with roughly $8.9 million for mining, according to an analysis by Equity Axis.

The investment figures come against an improving macroeconomic backdrop. The International Monetary Fund said in July that Zimbabwe's economy grew 8.3% in 2025 and projected expansion of about 5% in 2026.

But approved investment does not necessarily translate into money immediately entering the economy. The $1.59 billion represents the projected value of approved projects rather than capital already deployed. During the quarter, ZIDA generated 38 qualified investment leads and secured commitments worth about $417.8 million.

"We are affirming the strategic importance of Zimbabwe's industrialisation, beneficiation, export growth and employment creation," Chinamo said. "These results demonstrate our deliberate transition from measuring commercial activity towards measuring investment outcomes and venture deployment."

For the second half of 2026, ZIDA plans to focus on attracting higher-quality investments into productive sectors while strengthening project implementation and investment realisation.

"As we enter the second half of the year, the agency will continue to focus on attracting high-quality investment into the productive sectors, strengthening project implementation and investment realisation," Chinamo said. "The success of investment promotion is therefore measured not simply by the number of investment licences issued, but by the lasting economic value created for Zimbabwe."