China Doubles Down on Zim Investments as Harare Courts Strategic Capital

By Elishamai A. Ziumbwa

China is reinforcing its role as Zimbabwe’s most influential economic partner as top business leaders from both nations met for the second Zimbabwe-China Business Roundtable.

The summit, held in Harare marks a significant step in expanding a 45-year-old bilateral relationship that was elevated to a “Comprehensive Strategic Partnership of Cooperation” in 2018.

With over half of Zimbabwe’s foreign investors now Chinese, the country is leaning heavily on Beijing to help meet its development goals.

“We’re seeing a vital injection of capital, expertise, and long-term financial stability from China,” said Munetsi Madakufamba, Executive Director of the Southern African Research and Documentation Centre (SARDC) which co-hosted the event alongside the China Zimbabwe Exchange Centre.

China’s “Going Out” strategy has found fertile ground in Zimbabwe where rich natural resources and a central location in Southern Africa offer investment appeal.

Projects like the $1.5 billion Manhize Steel Plant which promises 3,000 jobs are symbolic of Beijing’s sweeping involvement in the region.

Infrastructure remains a key focus, with Chinese funds helping to build roads, power lines, schools and clinics often in areas overlooked by Western investors amid longstanding sanctions.

Yet the cooperation isn’t without controversy.
“Environmental degradation, labour conditions, and regulatory compliance are ongoing concerns. We must find a balance that protects Zimbabwe’s people and environment while embracing growth,” Madakufamba said

Officials said Zimbabwe’s future depends on creating investor-friendly policies that also prioritize sustainability, human capital development and inclusive growth.

As Zimbabwe targets upper-middle-income status by 2030 China’s role is poised to grow further making platforms like this roundtable critical for navigating the fine line between opportunity and oversight.