Online Reporter
Wallace Ruzvidzo-Herald Reporter
Zimbabwe has taken significant steps to capitalise on its abundant mineral wealth, ensuring it meets the growing global demand for these critical resources, Minister of Finance and Economic Development Professor Mthuli Ncube has said.
He said this while attending the 2026 World Economic Forum (WEF) in Davos, Switzerland, where he led Zimbabwe’s delegation together with Foreign Affairs and International Trade Minister Professor Amon Murwira.
In an interview, Prof Ncube said Zimbabwe had successfully implemented measures designed to maximise the economic benefits derived from its mineral assets.
“We are seeing increased demand for critical minerals, such as lithium and other rare minerals.
“So here (at WEF) we are able to contribute to some of those discussions, especially around critical minerals, how, for example, we have successfully put in policies for beneficiation to maximise the benefits of these critical minerals facilities,” he said.
Minister Ncube emphasised the growing global appetite for minerals such as lithium and this has seen increased investments in beneficiation infrastructure in the country.
Zimbabwe is poised to emerge as the leading lithium producer in Africa by 2030, and this anticipated growth is fuelled by the accelerating global demand for the mineral, primarily driven by the rise of electric vehicles and battery storage solutions as the world shifts towards clean energy.
Under the National Development Strategy 2 (NDS2) implementation period 2026-2030, the Government is prioritising the beneficiation of lithium, building on gains achieved under NDS1 (2021-2025).
“A case in point is lithium, where we have seen investment in the lithium beneficiation facilities by foreign investors.
“All of this has been welcomed in terms of our contribution to the discussions here in Davos,” said Minister Mthuli Ncube.
On the sidelines of WEF, the minister held a series of high-level engagements with investors and partners, including LG Sonic chief executive Yousef Yousef, with discussions focusing on a proposed 20 million Euros facility for the rehabilitation of Lake Chivero and sewer reticulation systems.
“Professor Mthuli Ncube held a productive engagement with LG Sonic CEO Yousef Yousef to discuss advanced, science-based solutions for the treatment and restoration of Lake Chivero, one of Zimbabwe’s most critical water bodies supplying Harare and surrounding areas,” Treasury said in a statement.
Prof Ncube held high-level talks with the President of the Arab Bank for Economic Development in Africa (BADEA) Mr Abdullah Kh Almusaibeeh, with their discussions cementing the increased cooperation between Zimbabwe and the Arabian bank, particularly in sectors such as infrastructure, energy, agriculture, industrialisation, and social development.
“Zimbabwe has already benefited significantly from this partnership through bilateral development financing, the regional SADC-BADEA cooperation framework, and investment promotion platforms that have supported the country’s progress under NDS1.
“As Zimbabwe advances the implementation of NDS2, the deepening of this strategic partnership is set to further accelerate national development, reinforce regional integration, and unlock new opportunities for mutually beneficial growth,” said the ministry.
Minister Ncube also met with his South African counterpart Enoch Godongwana, with the two sharing insights on the recent G20 and SADC Council of Ministers meetings.
The WEF was attended by about 65 Heads of State and Government, among them United States President Donald Trump, six G7 leaders and more than 400 senior political leaders from over 130 countries.
