Republic of Zimbabwe

Zimbabwe Economic Outlook

Real GDP growth moderated to 3.0% in 2022, down from 8.5% in 2021, due largely to exogenous and endogenous shocks. Floods and drought adversely affected agricultural output, which contracted 14% in 2022. Total output was further constrained by macroeconomic instability in 2022, arising from exchange rate depreciation and hyperinflation. The Zimbabwe dollar depreciated 521% against the US dollar in 2022, falling from 108 per US dollar in January 2022 to 671 in December 2022.

Key Facts

Flag:

Capital:

Harare

Population 2023:

16.3 million

Date of membership:

5 September 1980

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Bank intervention strategy

Priority area 1-Strengthening governance and accountability.
Priority area 2–Enhance private sector development for inclusive growth.

The objective of Priority area 1 is to strengthen the country’s capacity to clear its arrears by building stronger economic and financial governance systems and institutions, enhancing transparency, and accountability. The objective of Priority area 2 is to unlock private sector led value addition and job creation through investment in climate smart agriculture and energy sectors.

World Water Day 2024 in motion

Zimbabwe, how the Chitungwiza Water and Sanitation project impacted the population

Dakar 2 Summit: H.E. Emmerson Mnangagwa, President of Zimbabwe's social media video

Zimbabwe : How the Chitungwiza Water and Sanitation project impacted the population

High-Level Dialogue on Feeding Africa: H.E. Emmerson Mnangagwa's Remarks, President of Zimbabwe

Zimbabwe Multi-Donor Trust Fund lights up & powers urban and rural communities

News and Events

AfDB Country Manager for Zimbabwe Moono Mupotola and Gerald Gore, NMB Bank CEO at the signing of an agreement for a $15 m trade facility in Harare

15-Mar-2024

African Development Bank signs $15 million Transaction Guarantee Facility with NMB Bank Zimbabwe

The injection of resources into the Central Africa Building Society of Zimbabwe will finance trade.

19-Dec-2023

Zimbabwe: African Development Bank approves $25 million trade finance line of credit for Central Africa Building Society

06-Dec-2023

African Development Bank approves USD 15 million Trade Finance Transaction Guarantee Facility for NMB Bank to support SMEs and local corporates in Zimbabwe

05-Dec-2023

Mozambique: African Development Bank grants $33 million to improve the electrical grid near borders with Malawi, Zambia and Zimbabwe

From left, AUC Acting Director for Diaspora Affairs Ms. Betty Mupenda Wangozi, AfDB lead program coordinator Abibu Tamu and IOM Ethiopia’s Director for the Special Liaison Office Mariama Mohamed Cisse at the Addis Ababa signing ceremony for a $3.9 million grant to tap the African diaspora’s skills and capital.

02-Dec-2023

Multinational: African Development Bank, partners launch $3.9 million project to help catalyse diaspora investment in eight African countries.

Knowledge sharing at its finest: Vice President Quaynor learning the tricks of the trade from an experienced cashew sorter during his visit to a cashew processing plant in Nampula, Mozambique.

02-Aug-2023