Mining Leads Q4 2024 Investment Licenses

Oscar J. Jeke

Zim Now Reporter

Zimbabwe's mining sector dominated investment license approvals in the fourth quarter of 2024, securing 91 of the 200 licenses issued, according to data from the Zimbabwe Investment and Development Authority.

These licenses represent nearly half of all approvals and signal sustained confidence in the country’s rich mineral resources.

The mining sector attracted a total projected investment value of US$592.42 million, underscoring its resilience despite challenges such as power shortages and fluctuating global commodity prices. Industry experts attribute this success to robust global demand for minerals and the country's abundant mineral deposits.

Mining remains a key pillar of the economy, contributing significantly to GDP and export revenues.

While mining led in the number of licenses issued, the energy sector stood out with a higher projected investment value, totaling US$1 billion across nine projects. This surge in interest highlights Zimbabwe's efforts to address energy deficits through renewable energy initiatives and infrastructure development.

The new projects are expected to bolster the national grid, addressing rising demand and supporting population growth.

The manufacturing sector also showed positive momentum, with 47 new licenses approved during the quarter. Although the total investment value for manufacturing projects was not disclosed, the increased activity points to the sector's potential for driving industrial growth and job creation.

A standout development in Q4 was the approval of a massive US$2 billion real estate project, marking one of Zimbabwe's largest single investments in recent years. This project is expected to have a transformative impact on urban development and infrastructure.

In contrast, sectors such as financial services, transport, and technology saw relatively low investor interest, reaffirming a trend favoring traditional industries like mining and energy.