Manufacturing has overtaken mining as Zimbabwe’s leading sector for proposed investment, based on Q3 2026 licensing data.

Figures from the Zimbabwe Investment and Development Agency (ZIDA) show manufacturing attracted US$1.219 billion from 49 licences in the third quarter.

In comparison mining accrued US$1.065 billion from 78 licences.

Manufacturing accounted for 46.8% of the total US$2.606 billion investment pipeline in the quarter, against 40.8% for mining.

The data also shows larger average project sizes in manufacturing.

The average manufacturing licence was valued at US$24.9 million, compared to US$13.6 million for mining.

Analysts note that licences represent intention, not actual disbursement, and do not guarantee job creation or project implementation.

However, the shift marks a change in investor interest towards value addition and industrial production.

The development comes as manufacturing capacity utilisation improved to 55.9% in 2025 from 52.3% in 2024.

Meanwhile industrial output grew by 13%, according to official data.

In the mining sector, mineral sales reached US$5.013 billion between January and 27 October 2026.

Lithium and Platinum Group Metals (PGMs) accounted for 81.9% of earnings.

The figures were tabled as Parliament holds its Pre-Budget Seminar in Bulawayo ahead of the 2027 National Budget.