Online Reporter
Oliver Kazunga, [email protected]
ZIMBABWE is positioning itself to take advantage of two of the world’s fastest-growing sectors — artificial intelligence (AI) and critical minerals — as it seeks to unlock new investment opportunities, accelerate industrialisation and drive long-term economic growth.
The country’s strategy centres on adding value to its vast lithium resources, expanding digital infrastructure such as data centres and embracing emerging technologies that are expected to transform economies globally.
Speaking during a virtual Press conference held on the sidelines of the World Economic Forum’s Annual Meeting of the New Champions in Dalian, China, yesterday, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said Zimbabwe was aligning its development agenda with global economic trends that are reshaping industries, investment patterns and technological innovation.
He said AI had emerged as one of the most significant drivers of future economic growth, attracting substantial investment worldwide and creating opportunities for countries that position themselves early in the technological transition.
“Artificial intelligence is going to be the biggest driver of development of economic growth going forward. It will be adopted by companies, by Government at different paces, at different speeds, but it is so far attracting a large amount of investment into that sector,” he said.
Prof Ncube said Zimbabwe was taking deliberate steps to ensure it participates in the growing digital economy rather than remaining a consumer of technologies developed elsewhere.
His remarks come shortly after the launch of Zimbabwe’s National Artificial Intelligence Strategy, which seeks to transform the country into a regional centre for AI innovation and adoption.
The strategy focuses on developing local AI talent, improving productivity in key sectors such as agriculture and mining, modernising healthcare systems and building a digitally empowered society capable of competing in an increasingly technology-driven global economy.
According to Prof Ncube, preparing for the AI revolution requires investment in the infrastructure that supports advanced digital systems.
“We must prepare for it now and take our place in this new global technological revolution, which should not be left behind and support the development of data centres across Zimbabwe,” said Prof Ncube.
Beyond artificial intelligence, the minister said discussions at the Dalian forum had also highlighted the growing importance of critical minerals, particularly lithium and rare earth elements, which are essential in the production of batteries, renewable energy technologies, electric vehicles and advanced manufacturing products.
Zimbabwe is one of Africa’s largest lithium producers and has increasingly moved to ensure that mineral wealth translates into greater value for the local economy.
Prof Ncube said Government policies are now focused on beneficiation and value addition to ensure that minerals are processed locally before export.
“Companies cannot export unbeneficiated lithium and they should beneficiate to the level of lithium sulphate from a lithium company, which can go directly into battery manufacturing. Sometimes once a company has moved from just mere lithium mining to now manufacturing, because this beneficiation is now more manufacturing than mining, then we can also extend additional incentives in the form of tax breaks and our special economic zone provisions.”
The Government’s push for beneficiation gained momentum earlier this year when authorities suspended the export of lithium concentrates and certain other raw minerals.
The move formed part of a broader strategy aimed at improving accountability within the mining sector, increasing value retention and promoting local industrialisation.
To manage the transition, Government subsequently introduced a quota system allowing producers to export limited quantities of lithium concentrate under strict conditions while they establish processing facilities.
Authorities have indicated that exports of lithium concentrates will be completely phased out by January 2027, with all producers expected to be processing the mineral locally by then.
Prof Ncube said the shift from exporting raw minerals to producing processed products effectively upgrades mining investments into manufacturing ventures, creating wider economic benefits and enabling investors to qualify for additional incentives.
He added that Government was also strengthening mineral testing and assaying capabilities to ensure the country captures maximum value from its natural resources.
“For those where we cannot beneficiate, we are building laboratories for mineral testing, for assaying to make sure that what we export is well understood, the composition of the ore is well understood as to which minerals are in there, so that we can then levy the right level of royalties on these minerals and again maximise on value,” he said.
Prof Ncube said another key issue dominating discussions at the Dalian forum was the increasing influence of geopolitics on international trade, investment and financing.
He noted that growing global tensions and conflicts have pushed up borrowing costs for many African countries, making it necessary to explore alternative financing mechanisms and partnerships.
In response, Zimbabwe is pursuing membership in emerging international financial institutions that provide alternative sources of capital for developing economies.
“We have applied to join the BRICS Bank. That membership application is being considered, it’s being processed. I also visited the Asia Infrastructure Investment Bank again with a view of getting Zimbabwe to join this bank.
“The idea is to always have choices and alternatives for sourcing capital for both our private sector and also the sovereign, but mainly the private sector because that’s where most of the growth is coming from,” he said.
The minister revealed that Zimbabwe was also using the Dalian forum as a platform to engage potential investors interested in strategic sectors of the economy.
Among the discussions held were engagements with companies involved in fertiliser production projects in Norton and Beitbridge, lithium beneficiation investments, mining ventures and potential partnerships linked to the development of the new city in Mt Hampden.
Prof Ncube said investor interest in Zimbabwe continues to grow, supported by positive economic performance across several sectors.
He cited recently released official figures showing that Zimbabwe’s economy expanded by 8,2 percent in 2025, making it one of the fastest-growing economies in sub-Saharan Africa.
The growth was largely driven by strong performances in agriculture, manufacturing, mining, information and communication technology, wholesale and retail trade, as well as financial and insurance services.
Prof Ncube said the country’s economic strategy was increasingly focused on sectors with the greatest potential to generate sustainable growth and attract investment.
“We have work to do, but I think that we have figured things out and we know how to target the right drivers of economic growth, including some of the new areas which were discussed at this Dalian forum meeting,” said Prof Ncube.
His remarks underscore Zimbabwe’s ambitions to position itself at the intersection of the digital economy and the global energy transition, with artificial intelligence, mineral beneficiation and industrial value addition expected to play a central role in the country’s next phase of economic development.
