Online Reporter
Business Reporter
The private sector’s appetite for external financing surged dramatically in 2025, with offshore loan intake jumping by 43 percent to reach a record US$3,53 billion, according to the latest figures released by the Reserve Bank of Zimbabwe (RBZ).
This substantial uptick from US$2,46 billion in 2024, signals a marked shift in capital acquisition strategies among Zimbabwean businesses.
The central bank’s data highlights a significant reallocation of capital across key economic pillars. While Agriculture continues to be a primary beneficiary, its proportional share of total offshore debt dropped sharply from 53,20 percent in 2024 to 37,10 percent in 2025, despite the total dollar amount remaining relatively stable.
In a notable trend, the mining and quarrying sector nearly doubled its offshore borrowing, surging from US$443 million to over US$804 million, now accounting for 22,80 percent of the total offshore debt portfolio. Even more striking is the manufacturing sector’s pivot to external credit; borrowing by manufacturers skyrocketed from US$138,7 million in 2024 to US$550,2 million in 2025, a move that effectively tripled its share of total loans to 15,60 percent.
“The figures reflect a dynamic environment where industry is actively seeking liquidity,” market observers noted, pointing to the diversification of risk across sectors like services and energy, which also saw increased external engagement.
Conversely, some sectors saw a contraction in external debt exposure. The Transport and Construction industries, for instance, reported a reduction in offshore loan uptake compared to the previous year.
The Reserve Bank of Zimbabwe, maintaining a stance focused on macroeconomic stability, continues to monitor these capital flows as part of its broader strategy to balance liquidity demands with the national goal of preserving the stability of the ZiG currency and ensuring sustainable, long-term economic growth.
