Online Reporter
Nqobile Bhebhe [email protected]
Bulawayo and Harare-based companies have emerged as the biggest beneficiaries of the Government’s Industrial Development Fund, with the two cities accounting for 77 percent of the approved funding under the facility aimed at revitalising the manufacturing sector.
Presenting the 2026 Mid-Term Budget and Economic Review last week, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said ZiG85 million had been approved for 15 companies, while ZiG33,1 million, representing 40 percent, had already been disbursed from the ZiG101 million budgeted for the programme.
The fund is being administered by the National Venture Capital Company of Zimbabwe (NVCC) following the signing of a Memorandum of Understanding between the Ministry of Industry and Commerce and the Ministry of Finance, Economic Development and Investment Promotion in 2025.
Professor Ncube said the financing is supporting viable businesses with strong potential to create jobs, substitute imports, promote value addition and strengthen domestic value chains in line with the National Development Strategy 2 (NDS2).
He said the 15 beneficiary companies operate across five sectors and are located in Bulawayo, Harare, Midlands, Mashonaland West and Matabeleland North (Tsholotsho).
“The beneficiary companies are distributed across 5 provinces namely Bulawayo, Harare, Midlands, Mashonaland West and Matabeleland North (Tsholotsho), with Bulawayo and Harare absorbing the larger portions with 33% and 44%, respectively,” said Professor Ncube.
Government is expected to release the remaining approved funds during the second half of 2026 to companies that meet the selection criteria.
“The balance is set to be distributed during the second half of 2026 to companies meeting the selection criteria. The resources have had a positive impact on the manufacturing industries, therefore, Government will explore opportunities to increase the Fund through both fiscal resources and exploring partnership with the private sector and development partners,” he said.
The Industrial Development Fund is part of Government’s broader strategy to accelerate industrialisation, expand manufacturing capacity and support Zimbabwe’s Vision 2030 economic transformation agenda.
