Chief Executive Officer of the Zimbabwe Investment and Development Agency (ZIDA)- Tafadzwa Chinamo
Zimbabwe’s investment promotion agency has unveiled a new pipeline of projects worth more than US$17 million in sectors ranging from mining and renewable energy to business software, as the country seeks to attract fresh capital into an economy grappling with energy shortages, limited industrial capacity, and constrained access to finance.
The projects, published by the Zimbabwe Investment and Development Agency (ZIDA) under its “Unearthing Potential” investment prospectus, highlight government efforts to position Zimbabwe as a destination for investors despite persistent economic challenges.
Among the flagship proposals are a cloud-based enterprise software platform targeting small businesses across Africa, a US$12 million gold mining expansion in the Midlands province, and a solar panel assembly plant aimed at reducing Zimbabwe’s reliance on imported renewable energy equipment.
The projects collectively underscore Zimbabwe’s strategy of leveraging its mineral wealth, growing digital economy, and renewable energy ambitions to attract both domestic and foreign investment.
However, while the proposals present ambitious financial projections, the prospectus also notes that ZIDA does not guarantee project performance, financing availability, or investment returns.
Digital economy ambitions
One of the projects attracting attention is Numera Cloud, a Zimbabwe-developed enterprise resource planning (ERP) platform designed for small and medium-sized enterprises (SMEs) across Sub-Saharan Africa.
According to the prospectus, fewer than 4% of the region’s estimated 44 million SMEs currently use ERP systems, largely due to high implementation costs, poor localisation, and complex deployment requirements.
Developed by Numera Technologies, the platform is being positioned as a lower-cost alternative to established international software providers. The company says it has already secured 100 pilot customers generating recurring monthly revenue of approximately US$4,200 and is seeking US$500,000 in seed funding to support a commercial rollout planned for June 2026.
The company projects a 15-year internal rate of return of 225.9%, an average net margin of 38%, and a net present value of US$22.7 million.
The proposal aligns with Zimbabwe’s broader digital transformation agenda, which has been promoted by authorities as part of efforts to modernise business operations and improve tax compliance.
Yet analysts note that the African software market remains highly competitive, with global cloud providers and regional technology firms increasingly targeting the same SME segment.
For companies like Numera Cloud, scaling beyond Zimbabwe will require sustained customer acquisition, reliable internet infrastructure, and the ability to adapt to different tax and regulatory environments across multiple jurisdictions.
Betting on gold
Mining remains central to Zimbabwe’s economic strategy, and the largest project featured in the prospectus is the Gold Securities Mine Project in Kwekwe, one of the country’s historic gold-producing districts.
The brownfield project seeks US$12 million in debt financing to transform an existing small-to-medium-scale operation into a mechanised commercial-scale producer.
According to project documents, approximately US$2 million has already been invested in infrastructure and operational readiness.
The company plans to expand underground mining activities, construct a gold processing plant, and introduce gravity concentration, Carbon-in-Pulp and Carbon-in-Leach technologies to improve recovery rates.
The project aims to increase annual gold output from around six kilograms to 240 kilograms.
Gold Securities estimates that the operation could generate cumulative revenue of US$315.35 million over 25 years and achieve a return on investment of more than 80%.
The timing coincides with strong global gold prices, which have supported renewed investor interest in mining projects across Africa as geopolitical uncertainty and central bank purchases continue to underpin demand for the precious metal.
Zimbabwe has identified mining as a key driver of export growth and foreign currency earnings. Gold remains one of the country’s largest export commodities.
However, mining projects continue to face challenges, including capital constraints, electricity shortages, regulatory uncertainty, and foreign exchange volatility.
While brownfield developments typically carry lower risk than greenfield projects because some infrastructure is already in place, investors will still closely examine reserve estimates, operating costs, and long-term commodity price assumptions before committing capital.
Energy deficit creates opportunity
A third project seeks to address one of Zimbabwe’s most persistent economic bottlenecks: electricity shortages.
Verify Engineering is proposing a 30-megawatt solar panel assembly plant at the CEIRD High-Tech Complex in Chivhu, Mashonaland East province.
The company estimates development costs of US$4.56 million and says the facility would initially assemble solar panels using imported solar cells before transitioning towards local integration.
The proposal comes as Zimbabwe continues to experience a significant gap between electricity demand and supply.
According to figures contained in the prospectus, national electricity demand averages about 2,100 megawatts while generation capacity stands at approximately 1,600 megawatts.
Frequent power shortages have pushed households, businesses, and institutions to adopt solar energy systems, creating a rapidly expanding market for renewable energy equipment.
Currently, most solar panels installed in Zimbabwe are imported.
Verify Engineering argues that local assembly could reduce costs, create jobs, and strengthen energy security while supporting regional demand for renewable energy products.
The company projects first-year revenue of US$6.15 million, annual earnings before interest and tax of US$1.49 million, and a payback period of three years.
The project has received formal endorsement from the Ministry of Higher and Tertiary Education, according to the prospectus, and a consortium agreement has been signed with technical partner Solaregy.
Despite the opportunity, industry experts caution that local manufacturing ventures often face intense competition from lower-cost Asian imports, requiring strong economies of scale and supportive industrial policies to remain competitive.
Search for investment
The release of the prospectus comes as Zimbabwe intensifies efforts to attract investment into strategic sectors of the economy. Authorities have repeatedly identified mining, agriculture, manufacturing, renewable energy, and information technology as pillars of economic growth and industrialisation.
ZIDA, established under the Zimbabwe Investment and Development Agency Act, serves as the country’s principal investment promotion agency and acts as a facilitator between project developers and prospective investors.
In its disclaimer accompanying the prospectus, the agency emphasises that it does not assume ownership, financial responsibility, or liability for the projects it promotes.
Instead, ZIDA says its role is limited to promoting investment opportunities, facilitating engagement, and supporting investors through licensing and advisory services.
For investors, the projects illustrate both the opportunities and risks associated with Zimbabwe’s economic transformation agenda.
