Foreign direct investment (FDI) inflows into Zimbabwe surged to US$964.9 million last year, from US$566.7 million recorded in 2024, driven primarily by large-scale capital deployments in mining and energy projects.

Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube said the upward momentum continued into the first quarter of 2026, with direct investment inflows reaching an estimated US$192.5 million.

He said this reflects an increase from US$185 million recorded in the previous quarter and US$183.4 million in the corresponding quarter of 2025.

“FDI is projected to grow at a steady rate of 5.5% between 2026 and 2028,” Ncube said, presenting the Mid-Term Budget Review.

He said the country’s efforts to promote investment are bearing fruit, as evidenced by stronger foreign direct investment activity, with the Zimbabwe Investment and Development Agency issuing 871 licenses in 2025 compared to 709 in 2024.

Going forward, he said work is underway to review the National Investment Policy and the National Investment Incentive Framework to ensure that Zimbabwe remains competitive, transparent and aligned with international best practice.

The Minister said the developments are expected to sustain growth of FDI inflows, supported by other economic reforms.

The sustained growth in foreign capital inflows comes against the backdrop of government efforts to stabilise the macroeconomic climate, improve the ease of doing business, and implement structural reforms.