Online Reporter
Rutendo Nyeve [email protected]
THREE mining operations in Binga District contributed a combined US$5 million to the national fiscus in 2025, with the revenue remitted to the Consolidated Revenue Fund in accordance with the Constitution of Zimbabwe, the Income Tax Act and the Public Finance Management Act.
This was revealed by Deputy Minister of Finance, Economic Development and Investment Promotion David Mnangagwa while presenting the figures in Parliament on Wednesday.
He said the revenue was principally generated from Corporate Income Tax, mineral royalties and Withholding Taxes.
“During the year 2025, a total of USD5 million was collected from taxes from the three mining operations in Binga District. The revenue was principally generated from Corporate Income Tax, mineral royalties and Withholding Taxes,” said Deputy Minister Mnangagwa.
Responding to a question on how the revenue was being allocated or reinvested into local development projects in the Zambezi Valley, Deputy Minister Mnangagwa said funds from mining companies were pooled into the Consolidated Revenue Fund and used to support development projects and programmes across the country.
He said this included districts with limited revenue-generating capacity due to geographical constraints or inadequate mineral resources.
To support local development initiatives, he said the 2026 National Budget allocated ZiG167.9 million to Binga Rural District Council under intergovernmental fiscal transfers.
“Binga District is being integrated into Zimbabwe’s national development plans. One of the projects to be implemented under the National Development Strategy 2 (NDS2) is the construction of a control tower in Lake Kariba to improve vessel traffic management and enhance operational safety, as well as supporting the development of inland waterway transport.
“In addition, construction works are already underway at Binga District Registry Offices. Under Higher and Tertiary Education Projects, a Teaching and Learning Centre will be constructed in 2026,” he said.
