Online Reporter
Rutendo Nyeve, Victoria Falls Reporter
THE Government is actively courting global investors to transform Zimbabwe’s energy landscape, leveraging sweeping reforms, liberalised markets, and vast untapped renewable potential to position the country as Africa’s next energy investment frontier.
A high-level delegation, led by Minister of Energy and Power Development July Moyo and Minister of Mines and Mining Development Winston Chitando, recently travelled to Australia to attract private capital at the Africa Down Under Conference in Perth.
The ministers showcased investment opportunities across the mining and energy sectors, emphasising the critical link between reliable power supply and sustainable economic development.
The delegation revealed that Zimbabwe’s energy sector has undergone a significant transformation — from a state-controlled monopoly to a competitive, open market.
Acting Managing Director of the Zimbabwe Electricity Transmission and Distribution Company (ZETDC), Engineer Abel Gurupira, highlighted this shift.
“We are no longer a monopoly. That is gone. We now understand our mandate as a Government entity and the space we operate in. We also recognise the need to allow the private sector to step in and help cover the existing energy deficit,” he said.
Engineer Gurupira explained that liberalisation now allows businesses to generate their own power through captive installations, sell surplus electricity to the national grid, and source energy from suppliers across Africa — a key step towards building an integrated African single electricity market. To de-risk investments, the Government has introduced robust financial safeguards. Minister Moyo announced these measures during his address to Australian investors.
“We have signed what we call Government Project Support Agreements, which the Minister of Finance and I both sign to guarantee that investors can repatriate their dividends and repay loans in foreign currency,” said Minister Moyo.
An innovative aspect of the Government’s strategy is the mobilisation of local capital. Minister Moyo said partnerships with domestic pension funds, including the National Social Security Authority and industry-specific schemes, are being pursued to invest in the energy sector.
“Energy is a good place for you to invest, so you can partner with them. It gives you a sense of security. We are doing a lot to make investment more transparent, more attractive, and to ensure that investors make money,” he said.
The successful 5MW Mutirikwi hydro project, funded by a blend of foreign investors, public pension schemes, and private sector contributions, exemplifies this model.
Diaspora investments are also being encouraged, particularly for distributed renewable energy projects aligned with the Government’s goal to electrify all rural schools and clinics by 2026.
Additionally, energy projects benefit from tax incentives, duty exemptions, and streamlined licensing processes.
Zimbabwe Energy Regulatory Authority (Zera) Chief Executive Officer, Mr Eddington Mazambani, said licensing timelines have been significantly reduced — from 180 days to 90 days or less.
“We have shortened the timelines and committed to completing the process within 90 days. In fact, we are doing it even faster through pre-licensed competitive bidding and parallel processing,” he said.
Zimbabwe’s renewable energy drive is gaining momentum. The Zimbabwe Renewable Energy Fund (REF Zimbabwe), launched in 2024 with US$16 million from the UN Joint SDG Fund and Old Mutual, has already approved transactions worth US$7,81 million for solar projects at agro-processing sites, hospitals and remote communities.
These projects combine developmental impact with commercial viability, such as the 1,1MW solar plant for Dairibord Zimbabwe, which supports 480 small-scale dairy farmers and reduces carbon emissions by 26 000 tonnes annually. With a target to develop 1 800MW of grid-connected solar power by 2030 and vast untapped hydropower potential, Zimbabwe offers diverse opportunities for investors.
The recent US$500 million investment by Qatar’s Al Mansour Holdings in Invictus Energy’s Cabora Bassa gas project further signals growing international confidence in Zimbabwe’s energy future.
The country’s energy overhaul is a cornerstone of its broader economic vision.
By addressing historical barriers such as currency repatriation, regulatory delays, and limited financing, the Government aims to attract US$9 billion in private investment to double power generation by 2030.
