Zimbabwe is seeking to attract up to US$200 million in investment from the United Arab Emirates (UAE) for the mining industry, renewable energy, and agriculture, according to Simba Makamadze, chairman of the Zimbabwe Business Council UAE. The announcement was made during a business forum in Dubai on May 13, 2026, as part of efforts to boost foreign direct investment.
Makamadze stated that the investment would target key sectors including lithium and gold mining, solar and wind energy projects, and agricultural modernization. He emphasized that the UAE has become a strategic partner for Zimbabwe, with bilateral trade growing significantly in recent years. The Zimbabwean government has been actively courting Gulf investors to diversify its economy beyond traditional mining exports.
The initiative aligns with Zimbabwe's broader economic recovery plan, which aims to attract US$12 billion in mining sector investments by 2030. However, challenges such as currency instability and regulatory uncertainties remain. The Zimbabwe Business Council UAE is facilitating business-to-business connections to overcome these hurdles.
No specific projects or timelines were disclosed, but Makamadze expressed confidence that the investment would create jobs and boost local industries. The UAE has previously invested in Zimbabwe's mining sector, including a US$1.2 billion deal with a Dubai-based firm for lithium extraction in 2023.
