Online Reporter
Raymond Jaravaza, Sunday News Reporter
MATABELELAND North Province has been identified as one of the country’s prime investment destinations capable of driving employment creation, industrialisation and sustainable economic growth as the country gears for a five percent economic growth this year.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube told delegates at the Matabeleland North Investment Conference on Friday that prudent fiscal and monetary policies had restored macro-economic stability, strengthened investor confidence and created a more predictable business environment that is attracting investment.
The two-day indaba ran under the theme: “Transforming this year’s Matabeleland Sustainable Socio- North: Unlocking Strategic Investment Opportunities for Sustainable Socio-Economic Development”
Prof Ncube said the restoration of macro-economic stability has resulted in the exchange rate remaining relatively stable at around ZiG26 to 27 per United States Dollar, providing a more predictable environment for business and investment.
“A few years ago, the central question confronting our economy was whether we could restore macro-economic stability and Government deliberately pursued prudent fiscal and monetary policies aimed at restoring macroeconomic stability, strengthening investor confidence and creating a predictable business environment,” he said.
“The economy is estimated to have grown by 8,2 percent in 2025, surpassing the initial projection of 6.6 percent. This remarkable performance was underpinned by strong agricultural output, robust mining activity, improved electricity generation, increased manufacturing production, resilient construction activity and continued public infrastructure investments,” said Prof Ncube.
He said looking ahead, notwithstanding heightened global uncertainty, the country’s economic outlook remains positive with growth projected at five percent in 2026.
“This outlook reflects the resilience of our economy and the confidence that has been restored through sound macro-economic management. Inflation remains low, with annual ZiG and US$ inflation recorded at 4,4 percent and 2,8 percent respectively in May 2026,” said the minister.
“With regards to currency reforms, Government remains committed to a gradual, market-based currency reform process anchored on macroeconomic fundamentals, ensuring that policy stability, investor confidence, and long-term economic growth remain at the centre of Zimbabwe’s investment agenda,” he added.
Reflecting on the performance of the country’s external sector, Prof Ncube said it had strengthened considerably, recording significant gains in 2026 compared to last year.
“During the first quarter of 2026, Zimbabwe recorded a current account surplus of US$616,3 million, compared to a deficit of US$22,6 million during the corresponding period in 2025.
“This reflects improved export performance, prudent macroeconomic policies and stronger foreign currency generation,” he said.
Turning to export performance, Prof Ncube said merchandise exports increased by 34,4 percent to US$10,5 billion in 2025, largely driven by higher exports of gold, platinum group metals and tobacco.
“Mineral exports alone reached US$8.5 billion, while gold exports increased by more than 82 percent, demonstrating Zimbabwe’s growing competitiveness in global commodity markets,” he added.
Over the period between September 2025 to March 2026, Government undertook comprehensive review of licences, permits, fees and levies across 13 priority sectors of the economy, including agriculture, mining, manufacturing, tourism, transport, financial construction, telecommunications, energy and health.
Prof Ncube said these reforms were aimed at simplifying business procedures, reducing regulatory costs, eliminating duplication and improving the predictability of Zimbabwe’s regulatory environment.
Minister of State for Matabeleland North Provincial Affairs and Devolution, Richard Moyo, said the province is endowed with vast mineral wealth, fertile agricultural land, expansive forestry resources, abundant wildlife and world-renowned tourism attractions, presenting investment opportunities that can be turned into bankable projects that create jobs and empower communities.
“Matabeleland North remains one of Zimbabwe’s most strategically positioned provinces. We’re endowed with vast mineral wealth. We possess fertile agricultural land, expansive forestry resources, abundant wildlife and world-renowned tourism attractions led by the majestic Victoria Falls – a globally recognised destination and a gateway to regional and international markets,” he said.
“Let’s seize this moment to translate ideas into bankable projects, partnerships into investments, and investments into sustainable development that creates jobs and empowers our communities,” said Minister Moyo.
He said stakeholders at the conference are bound by a shared purpose and unwavering determination to transform the economic potential of Matabeleland North Province.
“Our challenge is to move from conversations and commit ourselves to practical investments that create employment,” he said.
Deputy Chief Secretary for Policy Analysis, Coordination and Development Planning Dr Willard Manungo, senior Government officials, chief executive officers of several rural district councils and other stakeholders attended.
The ruling party Zanu PF was represented by its Secretary for Information and Publicity Ambassador Chris Mutswangwa, and Lieutenant General (Retired) Dr Engelbert Rugeje who is the party’s Secretary for Economic Affairs.
