Online Reporter
Business Reporter
Zimbabwe’s upcoming leadership of the Common Market for Eastern and Southern Africa presents a transformative opportunity to access a market of over 600 million consumers across Africa, Buy Zimbabwe chairman Munyaradzi Hwengwere has said.
Zimbabwe is set to host the 25th COMESA Heads of State and Government Summit on October 22, 2026 at the new Parliament Building in Mt Hampden. With the event, the country will take over the rotational bloc chairmanship from Kenya for the 2026–2027 term.
In an interview, Mr Hwengwere stressed that Zimbabwe’s domestic market of 16 million people represents less than five percent of the continent’s total population — making regional integration not merely beneficial, but essential for sustained economic growth.
“You only succeed when you are given access to bigger markets,” he said. “COMESA is a significant market in Africa. It accelerates Zimbabwe selling its products, trading its products across the region. It’s a really critical milestone for Zimbabwe.”
Mr Hwengwere pointed to notable gains in the manufacturing sector, noting that locally produced goods now account for over 60 percent of products on domestic shelves — a dramatic jump from just 10 percent a few years ago. “Those goods are not only for Zimbabwe,” he added. “They must go into the rest of the continent.”
He highlighted successes in agriculture and mining as key pillars that must now register across the African region, with COMESA serving as the launchpad for that expansion.
Describing Zimbabwe’s chairmanship as a role that demands alignment between regional trade objectives and domestic capabilities, Mr Hwengwere expressed strong confidence in the country’s position.
“I think there can’t be anything better than that,” he said when asked about Zimbabwe’s standing as a global player through the chairmanship.
The COMESA market encompasses 21 member states across Eastern and Southern Africa, representing a combined GDP of over US$800 billion. Zimbabwe’s accession to the chair is expected to boost export capacity and attract foreign direct investment seeking gateway access to the region.
The timing is also significant, as Zimbabwe seeks to expand its export base beyond traditional commodities and into locally manufactured, value-added products.
However, fresh trade data paints a more challenging picture beneath the optimism.
Zimbabwe’s trade imbalance with COMESA deepened significantly in July 2026, with imports outstripping exports by a ratio of more than three to one. Exports to the bloc totalled a modest US$28,8 million, while imports surged to US$87,6 million — leaving a deficit of US$58,8 million for the month.
Iron and steel products emerged as the dominant export, accounting for 30,6 percent of the total value, followed by coke and semi-coke of coal at 12,1 percent, bituminous coal at 8,1 percent, and cigarette tobacco at 6,5 percent. Other notable exports included partially or wholly stemmed tobacco (3.5 percent), maize seed (3,1 percent), and corrugated paperboard cartons (3,0 percent). Electrical energy exports contributed just 1,5 percent. Altogether, the top ten products represented 71,7 percent of all exports.
On the import side, salt, sulphur, earths and stone, alongside plastering materials and cement, topped the list at 16,1 percent. Cereals followed at 8,4 percent, fertilisers at 7,1 percent, and machinery and mechanical appliances at 5,9 percent. Perfumery and cosmetic preparations made up 5,7 percent, while electrical machinery, miscellaneous chemicals, cereal preparations, tobacco products, and beverages each ranged between 3,6 and 5,5 percent. The “other imports” category remained substantial at 34,6 percent, underscoring the diversity of goods flowing into Zimbabwe from the regional market.
The widening deficit raises concerns about the competitiveness of Zimbabwean industry and its ability to penetrate regional markets effectively. The heavy reliance on a narrow range of primary and semi-processed exports — iron and steel, coal products, and tobacco — contrasts sharply with a more diversified import basket that includes manufactured goods, agricultural products, and industrial materials.
Analysts suggest the shortfall may place additional pressure on foreign currency reserves and could require policy interventions to stimulate domestic production and value addition. The data highlights an urgent need for strategies to boost local manufacturing capacity and reduce dependency on regional imports.
The figures arrive as COMESA member states push for deeper integration under the bloc’s free trade area arrangements, which aim to eliminate tariffs and non-tariff barriers. Yet the current trade dynamics suggest Zimbabwe has yet to fully capitalise on the opportunities at hand.
Efforts to address the imbalance will likely focus on enhancing the competitiveness of Zimbabwean goods, improving production efficiencies, and identifying new export opportunities within the COMESA market. The government and industry stakeholders are expected to convene in the coming months to deliberate on measures to reverse the unfavourable trends.
The July 2026 data serves as a critical indicator of the structural challenges facing Zimbabwe’s trade relations within the region — and underscores the imperative for targeted economic reforms to foster sustainable export growth.
