Creating Markets in Zimbabwe - Mobilizing the private sector in support of economic transformation in Zimbabwe - Executive Summary - February 2024

Jul 19, 2026

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Creating Markets in Zimbabwe: Mobilizing the private sector in support of economic transformation in Zimbabwe presents an executive summary of IFC’s Zimbabwe Country Private Sector Diagnostic (February 2024). The report highlights Zimbabwe’s development opportunities relative to other African countries, noting sectors that remain competitive or could become competitive regionally and globally. It identifies agricultural and agribusiness value chains, including sugar, cotton, horticulture, and meat and dairy, as well as tourism and energy transition minerals such as lithium, as areas with strong short-term potential. The main barrier to unlocking private-sector-led growth is chronic macroeconomic instability driven by past monetary and fiscal looseness, foreign exchange rationing, and structural constraints, resulting in major recessions and hyperinflation. While government efforts to tighten fiscal policy and improve local-currency liquidity support future stability, the diagnostic emphasizes the need for reforms to address external debt arrears, improve access to affordable credit, and stimulate public and private investment under challenging global conditions and high poverty pressures.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages16

Reading Time40 min

AccessFree to download

Executive Summary

Private sector opportunities and competitive sectors

Key constraints to growth

Reform pathways and enabling conditions

Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public COUNTRY PRIVATE SECTOR DIAGNOSTIC CREATING MARKETS IN ZIMBABWE Mobilizing the private sector in support of economic transformation in Zimbabwe Executive Summary February 2024 About IFC IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, [visit www.ifc.org](visit www.ifc.org). For more information, [visit www.ifc.org](visit www.ifc.org). © International Finance Corporation 2024. All rights reserved. 2121 Pennsylvania Avenue, N.W. Washington, D.C. 20433 [www.ifc.org](www.ifc.org) The material in this work is copyrighted. Copying and/or transmitting portions or all of this work without permission may be a violation of applicable law. IFC does not guarantee the accuracy, reliability or completeness of the content included in this work, or for the conclusions or judgments described herein, and accepts no responsibility or liability for any omissions or errors (including, without limitation, typographical errors and technical errors) in the content whatsoever or for reliance thereon. The findings, interpretations, views, and conclusions expressed herein are those of the authors and do not necessarily reflect the views of the Executive Directors of the International Finance Corporation or of the International Bank for Reconstruction and Development (the World Bank) or the governments they represent. Cover Photos: World Bank/ro_mac ACKNOWLEDGMENTS The Zimbabwe Country Private Sector Diagnostic was prepared by a team led by Sophia Muradyan (Senior Private Sector Specialist), Volker Treichel (Principal Economist), and Tewodros Dessie (Economist). It benefited from contributions provided by Isaku Endo (Senior Financial Sector Specialist), Crispen Mawadza (Financial Sector Specialist), Carlos Caceres (Resident Representative, IMF Zimbabwe office), Stella Ilieva (Senior Economist), Marko Kwaramba (Senior Economist), Easther Chigumira (Senior Agricultural Specialist), Aymen Ahmed Osman Ali (Senior Transport Specialist), Juliet Pumpuni (Senior Energy Specialist), Simbarashe E. Mangwengwende (Energy Consultant), Martin Lokanc (Senior Mining Specialist), Boubacar Bocoum (Lead Mining Specialist), James Otto (Mining Consultant), Bryan Land (Mining Consultant), Georges Vivien Houngbonon (Economist), Shepherd Nyaruwata (Tourism Consultant), Ronald Rateiwa (Economist), and the Confederation of Zimbabwean Industries (CZI). The team acknowledges the guidance of Nathan Belete, Claudia Conceicao, Eneida Fernandes, Denis Medvedev, Alwaleed Alatabani, Stephan Dreyhaupt, Adamu Labara, Marjorie Mpundu, and Fadzai Mukonoweshuro in preparing this report. EXECUTIVE SUMMARY Zimbabwe’s opportunities for economic development stand out compared to most other African countries: for decades after independence, Zimbabwe was one of the countries with the highest standards of living in Africa—buttressed by a skilled work force and infrastructure superior to that of most countries on the continent. Notwithstanding its economic decline since 1995, it continues to boast several sectors that are still competitive or could—in the short to medium term—be competitive regionally and globally. Notably, the report finds Zimbabwe to be highly competitive in several value chains in agriculture and agribusiness industries, including sugar, cotton, horticulture, as well as meat and dairy. Furthermore, tourism and mining of en

FAQs

哪些领域在短期具有较强的增长潜力？

报告认为农业与农产品相关的价值链（如糖、棉花、园艺，以及肉类和乳制品）具有竞争力；旅游业以及能源转型矿产（尤其是锂储量充足）也被认为在短期具备显著潜力。

阻碍私营部门成为经济增长引擎的主要原因是什么？

主要障碍是长期存在的宏观经济不稳定。历史上由宽松的货币与财政政策、外汇配给以及结构性挑战造成，最终引发了2000–2008年与2019–2020年的两次重大衰退及2000–2008年间的高通胀。

政府与发展伙伴的改革工作如何影响未来稳定与投资？

政府通过收紧财政政策、改善本币流动性等措施，帮助形成更有利的宏观稳定条件；同时，新设的政府与发展伙伴结构化对话平台提出改革路径，用于应对外债拖欠、推动获得更可负担的外部信贷额度，并激发急需的公共与私营部门投资。

Jul 19, 2026

Upload by Liam