Online Reporter
Sikhulekelani Moyo, Zimpapers Business Hub
FINANCE, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has identified Matabeleland North Province as the next key strategic launchpad for the country’s next phase of industrialisation urging investors to capitalise on the province’s rich natural resources and expanding infrastructure.
Speaking virtually at the Matabeleland North Investment Conference in Douglasdale, Umguza District, Prof Ncube described the province as being at an “inflection point,” emphasising the need for coordinated efforts between the public and private sectors to drive socio-economic transformation.
“Investors are encouraged to establish factories, assembly plants and value-added industries to unlock the province’s economic potential.
This is a pivotal moment for infrastructure, industrialisation and value chain development,” he said.
The conference that was held under the theme: “Driving Socio-Economic Growth through Strategic Investments in Infrastructure and
Value Addition,” attracted over 400 delegates and highlighted Matabeleland North’s vast opportunities.
The province boasts world-class mineral reserves, including coal, coal-bed methane (CBM), graphite, limestone, rare earth elements, lithium, gold and tin. Its fertile agricultural land also supports cattle ranching and crop production.
In 2023, the province posted the highest provincial GDP growth rate at 12,6 percent surpassing the national average of 5,6 percent.
Projections indicate continued growth, with estimates of around 4 percent in 2025 driven by mining (19,6 percent, energy (23,5 percent), and manufacturing (9,3 percent).
“Despite this progress, there remains a significant investment gap. Unlocking value from existing resources is crucial for long-term prosperity. We are rolling out investment initiatives to help local authorities develop bankable projects and attract serious investors,” Prof Ncube said.
Strategically located, Matabeleland North borders Zambia and is near Botswana, positioning it as a regional trade gateway via the North-South Corridor. This route links the province to southern African ports and the broader SADC market of over 300 million consumers.
Infrastructure in areas like Hwange, Victoria Falls and Binga provides a solid foundation for investments in tourism, energy, logistics, and mining sectors, noted Prof Ncube.
The conference aligns with the ministry’s decentralisation strategy, aiming to develop tailored investment roadmaps for all ten provinces.
The Matabeleland North plan highlights opportunities across its seven districts, from eco-tourism and wildlife conservation to clean energy and agriculture.
Prof Ncube emphasised that fostering economic partnerships through such conferences and stakeholder engagement is vital for enhancing value addition and industrialisation, aligning with national strategies.
“This investment gap has been a focus for nearly a decade and our roadmap showcases the province’s prospects, serving as a testament to our commitment,” he said.
Hwange Colliery’s Managing Director, Mr William Gambiza, highlighted the event’s importance for unlocking the province’s potential.
“The conference has created a platform for Government, private sector, and community leaders to collaborate. With vast opportunities in mining, tourism, and wildlife, we believe this approach will attract local, regional, and international investors,” he noted.
Former ZNCC Matabeleland Region chairperson and investor Mr McKenzie Dongo praised the conference for promoting idea exchange and regional growth.
“I am an investor in Matabeleland North and am pleased with our current investments. I look forward to expanding further. The region is a promising investment hub, especially given its strategic location along the North-South Corridor,” he said.
The province’s Minister of State for Provincial Affairs and Devolution, Cde Richard Moyo, noted the strong turnout as a sign of growing confidence in the growth prospects of the province and a vote of confidence in the Government’s call for investments in the country’s economic sectors.
“We targeted 180 delegates but received over 400, indicating that Matabeleland North is rapidly emerging as Zimbabwe’s next investment frontier,” he said.
He said the encouraging surge in interest underscores the province’s potential to become a major driver of Zimbabwe’s industrialisation and economic growth, leveraging its natural resources, strategic location and infrastructural advantages.
