Harare, (New Ziana) – The Zimbabwean economy is showing renewed strength, buoyed by a surge in construction activity and strong financial performances from some of the biggest corporate players, a trend, analysts say, reflects growing business confidence under the government economic reform agenda.
Posting on its National Development Strategy 1 (NDS1) X handle, the government said the construction sector is experiencing an unprecedented boom, driven by public infrastructure projects, private real estate developments, and expanding commercial investments.
According to the Ministry of Industry and Commerce, demand for cement has almost tripled since 2017, with supply struggling to keep pace, an indicator of heightened economic activity.
“The recent surge in construction activities and the strong financial results posted by Zimbabwe’s Big 3 companies – Delta, Econet, and Innscor – indicate a positive economic trend, which has been attributed to President Mnangagwa’s policies. The construction sector has seen increased demand, with cement supply struggling to keep up, reflecting growing investment in infrastructure and development,” the government said.
Local manufacturers are now racing to increase output with the Huaxin cement plant in Chegutu expected to add 800 000 tons of new capacity next year, while additional investments, including those linked to Nigerian business mogul Aliko Dangote are also anticipated to further bolster supply.
The government said the construction upswing comes at a time when Zimbabwe’s “Big Three” companies—Delta, Econet and Innscor—have reported strong financial results, pointing to rising consumer spending, improved liquidity, and greater market stability with economists saying the performance of these corporations often mirrors the broader health of the economy.
Government officials attribute the momentum to policies implemented under the Second Republic, including support for import substitution, promotion of local industries, infrastructure investment, and measures aimed at stabilising the economy.
The introduction of the Zimbabwe Gold (ZiG) currency, alongside tight monetary controls, has helped contain inflation and maintain exchange rate stability.
Speaking during the commissioning of the new Baker’s Inn production plant in Bulawayo recently, President Emmerson Mnangagwa reaffirmed the commitment of his administration to industrialisation and value addition, saying Zimbabwe should “produce, innovate and move up the value chain.”
The government strategy has already delivered notable outcomes, including achieving wheat self-sufficiency for the first time in decades.
Global institutions are also taking notice with the International Monetary Fund (IMF) praising Zimbabwe’s disciplined macroeconomic approach, ranking the country among the world’s top 10 for foreign currency reserve accumulation in recent years.
Economic growth is projected at 6 percent this year, driven by recovery in agriculture, mining and manufacturing.
Despite lingering challenges, including high production costs and skills shortages, business leaders say investor confidence is steadily improving, helped by currency reforms and infrastructure expansion.
As Zimbabwe positions itself for long-term growth, President Mnangagwa has pledged continued focus on sustainable development, economic transformation and sound governance.
With industrialisation accelerating and investment deepening, policymakers believe the country is on track to become a competitive economic force in the region and achieve its target of becoming an upper middle income society by 2030 with many seeing the rising cranes, full order books and robust corporate earnings as early signs of that vision taking shape.
New Ziana
