Zimbabwe plans to fully transition to a single national currency by 2030, with the central bank citing rising foreign-exchange reserves of about US$1 billion. Deputy governor Innocent Matshe said stronger reserves, low inflation, and higher demand for the local ZiG are key to ending US-dollar use. Mining-led forex earnings have helped clear outstanding obligations, and authorities expect to meet the minimum import-cover threshold needed to support a stable mono-currency system.

Zimbabwean insurers are urging authorities to close loopholes that let foreign investors rely on insurance from their home countries, sidelining local firms. At the Southern Africa Insurance Indaba, executives pressed Zida to require investors to place at least part of their cover locally. While Zida acknowledged the challenge, it encouraged collaboration and policy support. Industry leaders say they can handle base-layer risk but need regulatory backing to stop business from flowing offshore.

Kuvimba Mining House’s $270 million Sandawana lithium project in Mberengwa, Zimbabwe, is set to become the country’s largest, pending Cabinet approval. The BOT-backed plant will produce over 500,000 tonnes of lithium concentrate annually. It will be tapping into one of the world’s top five lithium reserves. KMH also prioritizes community upliftment, investing $500,000 in local development, including schools, water access, and roads, while creating jobs. Construction could start early next year, with full commissioning targeted for 2027.

President Mnangagwa concluded a state visit to Mozambique with agreements to enhance regional trade, including a dry port at Beira, a one-stop border post at Forbes/Machipanda, and upgrades to the fuel pipeline. The Bi-National Commission also signed MoUs on women and youth empowerment and SMEs, while committing to eliminating trade barriers under SADC and AfCFTA. Both leaders emphasized regional integration, security cooperation, and support for Zimbabwe’s UN Security Council bid.

Vietnam expressed interest in expanding investments in Zimbabwe, targeting mining, agriculture, infrastructure, and manufacturing. This follows a high-level meeting between Vietnam’s Prime Minister Pham Minh Chinh and Zimbabwe’s Vice President Chiwenga at the G20 Summit in Johannesburg. Discussions focused on implementing existing cooperation agreements and exploring strategic sectors. Zimbabwe leveraged the summit to attract foreign direct investment under its “Zimbabwe is Open for Business” initiative, aiming to strengthen bilateral ties and boost economic growth.

Zimbabwe has scrapped restrictions on cement imports after prices jumped about 40% in two months amid a construction boom, production breakdowns and reduced inflows from Zambia. The government says the move aims to ease shortages that have stalled projects and driven 50kg bag prices to US$17. Local output remains unstable due to power issues, clinker shortages and plant failures, though new capacity, including the Huaxin plant opening next year, may bring relief.