Zimbabwe’s energy sector saw significant growth in the first quarter of 2025, driven by the $2 billion, 600-megawatt coal power project in Binga by Yuanlin Energy Investments. This initiative, part of a broader $2.71 billion investment plan, has positioned Matabeleland North as the leading province for energy development, contributing to improved energy security, particularly for the mining and manufacturing sectors.
In total, projected investment in Zimbabwe reached $4.7 billion in Q1. The breakdown of this investment includes:
- Energy: $2.72 billion (57.39%), with a focus on coal and thermal energy in Matabeleland North
- Mining: $906.8 million (19%)
- Manufacturing: $877 million
Tafadzwa Chinamo, CEO of the Zimbabwe Investment and Development Agency (ZIDA), reported a 44.8% increase in new investment licenses in Q1. The sectors attracting continued investor interest include mining, agriculture, and renewable energy.
