HARARE – Zimbabwe has set an ambitious target of growing its industrial sector into a US$12 billion economy by 2030, with government officials arguing that the foundations for accelerated economic transformation have already been established.
Speaking at the official opening of the Zimbabwe National Chamber of Commerce (ZNCC) Annual Congress in Victoria Falls, Industry and Commerce Minister, Nqobizitha Mangaliso Ndhlovu, said the country is entering a new phase of economic development characterised by competitiveness, industrialisation and value creation.
“The national focus is shifting decisively from resilience to competitiveness, from stabilisation to transformation, and from potential to performance,” Ndhlovu told delegates drawn from industry, commerce and government.
The minister said Zimbabwe is implementing the objectives of the National Development Strategy 2 (NDS2) with growing confidence, adding that policy reforms undertaken over recent years have created a platform for sustained industrial expansion and private sector growth.
Value Addition Seen as Key Driver of Industrial Growth
A central pillar of the government’s industrialisation strategy is the promotion of value addition and beneficiation, particularly in sectors where Zimbabwe has abundant natural resources.
Ndhlovu warned that the long-standing practice of exporting raw and semi-processed materials while importing finished products continues to undermine economic transformation.
He argued that such a model deprives the country of employment opportunities, industrial growth and foreign currency earnings that could be retained through domestic processing and manufacturing.
“Exporting raw materials effectively exports jobs and value,” he said, urging manufacturers and investors to seize opportunities emerging from government policies aimed at domesticating industrial production.
Electric Vehicle Revolution Creates New Opportunities
The minister also highlighted the growing global demand for minerals used in electric vehicles (EVs), battery technologies and renewable energy systems, describing the transition as a major opportunity for Zimbabwe’s industrial sector.
Zimbabwe possesses significant deposits of lithium, nickel, platinum and other strategic minerals increasingly required by global manufacturers as countries accelerate the transition to cleaner energy technologies.
Ndhlovu said the country is strategically positioned to become an important participant in emerging global value chains linked to electric mobility and energy storage systems.
He challenged business leaders to move beyond mineral extraction and explore opportunities in processing, component manufacturing and other downstream industries that can capture greater value from Zimbabwe’s resource endowment.
Government Expands Mineral-Based Industrial Value Chains
To support this vision, government is intensifying efforts to develop mineral-based value chains and establish Special Economic Zones linked to key mineral deposits.
The initiative aims to attract investment into processing industries and encourage the development of downstream manufacturing activities that can create jobs and increase export earnings.
According to the minister, competitiveness in the modern global economy is no longer determined solely by access to natural resources or low labour costs.
Instead, successful economies are increasingly characterised by innovation, productivity, technological sophistication, efficient institutions, quality infrastructure and strong industrial ecosystems.
“Modern competitiveness is driven by innovation, productivity and the ability to integrate into sophisticated value chains,” he said.
Mining Sector Imports Present Manufacturing Opportunity
Ndhlovu also pointed to the mining sector’s substantial import bill as an untapped opportunity for local manufacturers.
Zimbabwe’s mining industry currently imports large volumes of machinery, engineering products, chemicals, industrial equipment and consumables required for mineral production.
The minister said these imports represent potential market opportunities that domestic manufacturers should target as part of efforts to deepen local industrial linkages.
He encouraged Zimbabwean firms to position themselves as suppliers to the mining sector and become more active participants in mineral value chains.
Industry analysts note that stronger backward linkages between mining and manufacturing could help reduce import dependence, stimulate industrial production and increase domestic value retention from mineral extraction.
As Zimbabwe pursues its US$12 billion industrialisation target, policymakers increasingly view value addition, mineral beneficiation and integration between key economic sectors as critical drivers of long-term economic growth and structural transformation.
