Harare, (New Ziana) – In a move expected to reshape Zimbabwe’s industrial landscape, the Ministry of Industry and Commerce has announced the launch of a ZiG100 million Industrial Development Fund (IDF), a major financing facility aimed at revitalizing the manufacturing sector and strengthening domestic value chains.
The Fund, hailed as one of the most significant industrial interventions in recent years, will be administered by the National Venture Capital Company of Zimbabwe (NVCCZ).
According to the Ministry, the fund is designed to provide capital to qualifying businesses across all ten provinces.
In a statement, the ministry said the facility specifically targets existing corporates involved in manufacturing and value-addition activities, with priority given to companies offering breakthrough innovations that can accelerate the country’s industrialization drive.
Funding under the IDF will support companies seeking to acquire new machinery and equipment, modernize or expand infrastructure, meet working-capital needs, or advance research, development, and technological adoption.
The Ministry emphasized that the goal is to ensure local manufacturers have the resources necessary to upgrade operations, improve competitiveness, and drive economic growth.
To qualify, applicants must be registered Zimbabwean companies, cooperatives, or partnerships engaged in manufacturing or value addition.
The applicants are required to submit a bankable business plan or proposal, provide audited financial statements if already operational, demonstrate their capacity for success, and offer appropriate security.
Compliance with statutory and tax obligations is mandatory, and each application must be accompanied by a non-refundable facilitation fee of US$100.
Industry observers said the Fund could not have come at a better time, as many manufacturers have long struggled to access affordable capital for expansion and retooling.
With productivity and competitiveness tied closely to industrial performance, the ZiG100 million injection is expected to breathe new life into the sector and stimulate broader economic activity.
New Ziana
