US$700m cement project signals Zimbabwe's industrial surge

Provincial Affairs and Devolution Minister for Mashonaland West, Marian Chombo, has welcomed the proposed US$700 million cement manufacturing project in Magunje, Hurungwe district, describing it as a transformative investment that could accelerate industrialisation and regional development in the province.

Chombo made the remarks during a tour of the project site, which is being developed by WIH-ZIM Construction Material Investments (Private) Limited, a subsidiary of Hong Kong-listed Yaobai International Holdings Limited.

Set to break ground in 2026, the Magunje plant is among the largest greenfield industrial projects announced in Zimbabwe in recent years. The facility is expected to produce 1.8 million metric tonnes of cement annually and create over 2 000 jobs, helping to close a widening domestic supply gap driven by growth in housing, mining, and infrastructure development.

"This investment is not just about bricks and clinker, it's about building Zimbabwe's future, brick by brick," Chombo said. "The scale of this project - US$700 million, 1.8 million tonnes of cement annually and over 2 000 jobs - shows how strategic partnerships can turn our resources into real opportunities for our people."

The minister highlighted the project's potential to anchor industrial development outside Harare, in line with the devolution agenda. She stressed that government oversight would ensure alignment with Vision 2030, community development priorities, and environmental standards.

"We are not here to rubber-stamp projects; we are here to ensure they deliver for communities, protect our environment, and align with our Vision 2030 goals," she said. "I commend Yaobai International for their commitment, and we will work hand-in-hand with them to remove any bottlenecks, because when investors succeed, our nation succeeds."

Yaobai International, founded in 2019, has positioned itself as a multinational player aligned with China's Belt and Road Initiative. The company operates across Africa and Central Asia, with active production bases in countries including Mozambique, DRC, Ethiopia, Rwanda, Uganda, Angola, Congo-Brazzaville, Kenya, and Uzbekistan. Its portfolio spans cement, gypsum boards, cement products, and international logistics.

Zimbabwe currently produces about 4 million tonnes of cement annually, barely enough to meet domestic demand, which grows 6–8% per year. The shortfall has forced the country to import roughly 1.2 million tonnes annually, mainly from South Africa, Zambia, and China, straining foreign exchange reserves and inflating construction costs.

The Magunje project is expected to reduce import dependence, lower costs, create employment, and contribute to the government's industrialisation and regional development objectives.