Zimbabwe, Africa’s largest lithium producer approves US$1.59 billion in new investments as mining and manufacturing take nearly 80%

By Ayodeji Adegboyega l Business Insider ZIMBABWE approved US$1.59 billion worth of new investment projects in the second quarter of 2026, with mining and manufacturing absorbing nearly 80% of the proposed capital as the southern African country intensifies its push to build an industrial economy around its vast mineral resources. The Zimbabwe Investment and Development Agency (ZIDA) issued 284 new investment licences during the three months to June, according to figures disclosed by the agency and reported by Zimbabwean NewsDay. Mining remained the biggest destination for investors, attracting 86 licences valued at US$768.5 million, or close to half of all projected investment during the quarter.

Manufacturing followed with 43 projects worth US$496.7 million. Combined, the two sectors attracted about US$1.27 billion, equivalent to almost 80% of the US$1.59 billion investment pipeline. The concentration highlights the central role Zimbabwe’s mineral resources are playing in its attempts to attract foreign capital and rebuild an economy that has endured years of currency instability, limited access to international financing and subdued investor confidence.

Zimbabwe has some of Africa’s most significant reserves of gold, platinum-group metals, lithium and chrome, positioning the country to benefit from global competition for minerals used in batteries and other clean-energy technologies. But Harare is increasingly trying to capture more of the value generated from those resources before they leave the country. The government has been tightening its beneficiation strategy, encouraging or requiring companies to process minerals domestically instead of relying overwhelmingly on exports of raw or minimally processed ores.

Mining attracted US$768.5 million in approved investments as Zimbabwe seeks to capitalise on its gold, platinum and lithium resources. That strategy is beginning to show up in Zimbabwe’s mineral exports. Mineral export receipts reached approximately US$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 US$73.2 million during the period.