Online Reporter
Nqobile Bhebhe, Zimpapers Senior Writer
MATABELELAND North Province recorded the highest Gross Domestic Product (GDP) growth rate in 2024, expanding by an impressive 9,7 percent, well above the national average of 2,4 percent, according to official data.
The province’s performance outpaced all other regions with the Midlands trailing behind at 4,7 percent, Harare at 2,8 percent and Matabeleland South at 2,4 percent, a Zimstat report shows.
Provinces such as Mashonaland East and Masvingo posted negative growth.
Matabeleland North’s economy in 2024 was largely anchored on the energy and extractive sectors, with electricity generation, mining and manufacturing emerging as the province’s top contributors to GDP market prices.
According to official data from Zimstats, electricity, gas, steam and air conditioning supply contributed 25,16 percent to the provincial GDP KP, making it the single largest driver of economic activity.
The province hosts significant energy infrastructure, which continues to play a pivotal role in both local and national development.
The Mining and Quarrying sector accounted for 17,87 percent of GDP KP, reflecting the province’s mineral endowment and the ongoing expansion of mining activities. The sector’s growth is attributed to investment in coal, gold, and quarry minerals, which remain vital to Zimbabwe’s industrialisation drive.
Manufacturing activities contributed 10.36 percent to GDP KP, underpinned by value addition in agricultural produce and mining outputs.
This aligns with Government’s push for industrialisation under the National Development Strategy 1 (NDS1).
Other significant contributors included Financial and Insurance Services (8,08 percent), Wholesale and Retail Trade (5,88 percent) and Agriculture, Hunting and Fishing (5,31 percent).
These sectors underscore the importance of services and primary industries in sustaining livelihoods across the province.
Public Administration, Defence and Compulsory Social Security accounted for 4,77 percent, while Education and Transportation contributed 3,0 percent and 2.70 percent, respectively.
The smallest contribution came from Other Services at 2,58 percent.
Analysts attribute Matabeleland North’s robust growth to increased activity in mining, tourism and energy projects.
The province is home to Hwange, a key hub for coal and thermal power generation, as well as Victoria Falls, which continues to attract both domestic and international investment under the Special Economic Zone framework.
Economic commentator Ms Alice Chikonzi, Co-Director at Tagrite & Chikonzi Consultancy said Matabeleland North’s strong performance highlights the province’s strategic role in Zimbabwe’s growth agenda.
“The 9,7 percent GDP growth demonstrates the value of targeted investments in energy, mining and tourism. With Victoria Falls being developed as a conferencing and investment hub, Matabeleland North is positioning itself as a critical driver of national economic transformation,” she said.
“Overall, Matabeleland North’s economic profile demonstrates the province’s strength in energy generation and mining, supported by a growing manufacturing base and essential services. With continued investment in these sectors, the province is well-positioned to drive both regional and national economic growth.”
The growth trajectory in Matabeleland North comes at a time when the Second Republic is accelerating devolution to ensure provinces leverage their unique resources for development.
The province’s strong showing is expected to spur further investor confidence and serve as a model for balanced economic growth across Zimbabwe.
Meanwhile, in Matabeleland South, mining and quarrying continued to anchor the province’s economy in 2024, contributing 23,79 percent of the province’s GDP KP.
The sector’s dominance reflects the province’s vast mineral wealth, which has positioned it as a critical player in Zimbabwe’s broader extractive industry.
Gold, cement, limestone and other quarry products remain central to provincial output, sustaining thousands of jobs and generating significant revenue inflows.
The manufacturing sector emerged as the second-largest contributor, accounting for 13,74 percent of provincial GDP KP. The sector’s growth was underpinned by agro-processing, small-scale industries, and downstream activities linked to mining.
Close behind was wholesale and retail trade, including motor vehicle repairs, which contributed 13,48 percent.
This highlights the growing importance of commerce and services in Matabeleland South, particularly in urban centres such as Gwanda and Beitbridge, where cross-border trade continues to flourish.
Other notable contributors included financial and insurance activities (8.73 percent), public administration and defence (5.61 percent) and education (4.92 percent), underscoring the role of Government services in supporting provincial livelihoods.
Agriculture, hunting, fishing and forestry accounted for 4,66 percent, reflecting the challenges of recurrent droughts in the province, though livestock production remains a key resilience factor.
Transportation and storage contributed 4,25 percent, while other services and real estate activities recorded 2,77 percent and 2,62 percent, respectively.
In 2024, Zimstat conducted an Economic Census and used data from the Economic Census and Administrative sources, to compile GDP.
Data from the Economic Census increased coverage and allowed incorporation of new data sources and emerging economic activities.
The new data set was used to compute the new 2023 GDP, which was compared to the Old 2023 GDP. Consequently, the base year was revised from 2019 to 2023 for Provincial GDP.
