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Zimbabwe’s Real Estate Investment Trusts (REITs) market experienced a slowdown in May 2026, with turnover value, trading volume and market capitalisation declining from April levels, highlighting softer investor activity amid continued interest in property-backed investment vehicles.

According to Zimbabwe Stock Exchange (ZSE) statistics, the value of trades on the REIT board fell by 44,3 percent to ZiG22,27 million in May from ZiG39,97 million recorded in April.

Trading volumes also declined sharply by 48,1 percent to 19,17 million units from 36,9 million units during the same period.

Market capitalisation dropped by 6,4 percent to ZiG2,82 billion at the end of May from ZiG3,01 billion in April, reflecting weaker valuations across listed property investment vehicles.

However, the number of trades remained relatively stable, easing marginally from 580 transactions in April to 577 in May, suggesting that investor participation remained broadly intact despite lower transaction values.

The latest figures indicate that while the REIT sector continues to attract interest as an alternative investment asset class, trading momentum softened during the month.

REITs are collective investment schemes that pool capital from investors to acquire and manage income-generating real estate assets such as shopping centres, office buildings, industrial parks and mixed-use developments.

Investors gain exposure to the property market without directly owning physical property and earn returns through dividends and capital appreciation.

Zimbabwe introduced REITs as part of efforts to deepen capital markets and broaden investment options beyond traditional equities and bonds.

The country’s market has expanded steadily since the launch of the first REIT in 2022.

The sector now includes listed property funds such as Tigere REIT and Revitus REIT, while 2025 also saw the introduction of Eagle REIT on the Victoria Falls Stock Exchange, the country’s first US dollar-denominated REIT.

Investor interest has been rising as property increasingly becomes a preferred hedge against inflation and currency volatility and the market also witnessed the listing of Pfuma REIT on VFEX.

Despite the monthly decline, the REIT market remains significantly larger than it was in its early years, underlining the growing acceptance of the asset class among institutional and retail investors.

Zimbabwe Stock Exchange chief executive Mr Justin Bgoni has previously highlighted REITs as an important product diversification tool capable of attracting long-term capital into the property sector.

Market analysts say the May slowdown may reflect temporary profit-taking and cautious investor positioning rather than weakening fundamentals.

“The month-on-month decline should not necessarily be interpreted as weakening investor confidence. REITs remain an attractive long-term asset class because they provide investors with inflation protection, regular income streams and exposure to high-quality real estate assets.

“What we are seeing is a normal market adjustment following stronger activity earlier in the year,” financial analyst Mr Malone Gwadu said.

Analysts believe the long-term outlook for Zimbabwe’s REIT market remains positive, supported by growing investor appetite for income-generating assets and efforts to deepen the country’s capital markets. – Herald

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Zimbabwe’s Real Estate Investment Trusts (REITs) market experienced a slowdown in May 2026, with turnover value, trading volume and market capitalisation declining from April levels, highlighting softer investor activity amid continued interest in property-backed investment vehicles.

According to Zimbabwe Stock Exchange (ZSE) statistics, the value of trades on the REIT board fell by 44,3 percent to ZiG22,27 million in May from ZiG39,97 million recorded in April.

Trading volumes also declined sharply by 48,1 percent to 19,17 million units from 36,9 million units during the same period.

Market capitalisation dropped by 6,4 percent to ZiG2,82 billion at the end of May from ZiG3,01 billion in April, reflecting weaker valuations across listed property investment vehicles.

However, the number of trades remained relatively stable, easing marginally from 580 transactions in April to 577 in May, suggesting that investor participation remained broadly intact despite lower transaction values.

The latest figures indicate that while the REIT sector continues to attract interest as an alternative investment asset class, trading momentum softened during the month.

REITs are collective investment schemes that pool capital from investors to acquire and manage income-generating real estate assets such as shopping centres, office buildings, industrial parks and mixed-use developments.

Investors gain exposure to the property market without directly owning physical property and earn returns through dividends and capital appreciation.

Zimbabwe introduced REITs as part of efforts to deepen capital markets and broaden investment options beyond traditional equities and bonds.

The country’s market has expanded steadily since the launch of the first REIT in 2022.

The sector now includes listed property funds such as Tigere REIT and Revitus REIT, while 2025 also saw the introduction of Eagle REIT on the Victoria Falls Stock Exchange, the country’s first US dollar-denominated REIT.

Investor interest has been rising as property increasingly becomes a preferred hedge against inflation and currency volatility and the market also witnessed the listing of Pfuma REIT on VFEX.

Despite the monthly decline, the REIT market remains significantly larger than it was in its early years, underlining the growing acceptance of the asset class among institutional and retail investors.

Zimbabwe Stock Exchange chief executive Mr Justin Bgoni has previously highlighted REITs as an important product diversification tool capable of attracting long-term capital into the property sector.

Market analysts say the May slowdown may reflect temporary profit-taking and cautious investor positioning rather than weakening fundamentals.

“The month-on-month decline should not necessarily be interpreted as weakening investor confidence. REITs remain an attractive long-term asset class because they provide investors with inflation protection, regular income streams and exposure to high-quality real estate assets.

“What we are seeing is a normal market adjustment following stronger activity earlier in the year,” financial analyst Mr Malone Gwadu said.

Analysts believe the long-term outlook for Zimbabwe’s REIT market remains positive, supported by growing investor appetite for income-generating assets and efforts to deepen the country’s capital markets. – Herald

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HARARE – Zimbabwe’s largest telecommunications and technology company, Econet Wireless Zimbabwe, is accelerating its transformation from a traditional mobile network operator into an artificial intelligence-driven digital services powerhouse, positioning itself to capitalise on the next wave of technological disruption shaping Africa’s digital economy.

The strategic shift comes as the company reported strong financial performance for the year ended February 28, 2026, with revenue rising 23 percent, driven by growth across its telecommunications, fintech and digital services businesses.

However, beyond the financial results lies a more profound corporate transformation that reflects broader changes taking place across the global technology industry. As artificial intelligence reshapes business models worldwide, Econet is seeking to reposition itself not merely as a provider of connectivity but as a technology platform capable of delivering AI-enabled services to businesses, consumers and government institutions.

Chairman Dr James Myers described the past year as a defining period in the company’s evolution, marked by significant structural changes designed to prepare the business for a future increasingly dominated by data, automation and intelligent digital systems.

“There have been significant milestones in Econet Wireless Zimbabwe’s strategic direction over the past year, recalibrating the company’s operating model,” Dr Myers said in a statement accompanying the group’s audited financial results.

At the centre of that transformation was the company’s decision to voluntarily delist from the Zimbabwe Stock Exchange, a move that received overwhelming support from shareholders.

According to the company, more than 95 percent of shareholders backed the proposal, allowing management greater operational flexibility as it restructures its business portfolio and pursues long-term strategic investments.

“To improve our operational flexibility and enhance shareholder value, the Company voluntarily delisted from the Zimbabwe Stock Exchange. The process was unanimously supported by more than 95 percent of the shareholders,” said Dr Myers.

The delisting forms part of a broader reorganisation strategy that has fundamentally altered the structure of one of Zimbabwe’s most valuable companies. Rather than operating as a conventional telecommunications provider, Econet is increasingly being organised around infrastructure, digital finance, data services and emerging technologies.

One of the most significant developments arising from this restructuring was the establishment and listing of Econet Infrastructure Company Limited (Econet InfraCo) on the Victoria Falls Stock Exchange.

With an initial market capitalisation of US$1 billion, Econet InfraCo became the largest initial public offering in Zimbabwe’s capital markets history, underlining investor confidence in digital infrastructure as a long-term growth sector.

The infrastructure company consolidates critical assets including telecommunications towers, energy infrastructure and real estate holdings into a single entity focused on supporting the country’s digital transformation.

Industry analysts view the separation of infrastructure assets as a strategic move that mirrors trends among major telecommunications operators globally. Increasingly, telecom companies are spinning off infrastructure businesses to unlock shareholder value while creating specialised entities capable of attracting investment into network expansion, renewable energy projects and data infrastructure.

For Zimbabwe, the emergence of a billion-dollar infrastructure company could have implications extending beyond Econet itself. Telecommunications towers, fibre networks, power systems and digital infrastructure are increasingly viewed as foundational assets for economic development, supporting everything from financial inclusion and e-commerce to artificial intelligence and cloud computing.

Yet it is artificial intelligence that appears to be shaping the company’s long-term vision.

Dr Myers described AI as “the most transformative technology of our time”, signalling that the company intends to embed artificial intelligence across multiple aspects of its operations.

“The transition from a telecommunications company to an AI-enabled digital services provider is already underway and accelerating,” he said.

The statement places Econet among a growing number of telecommunications operators worldwide that are seeking to evolve into technology companies rather than remaining solely connectivity providers.

Globally, artificial intelligence is transforming telecommunications through network optimisation, predictive maintenance, customer service automation, fraud detection, cybersecurity enhancement and personalised digital experiences. AI systems are increasingly capable of managing complex telecommunications networks more efficiently while reducing operational costs and improving service quality.

For Econet, the technology also presents opportunities far beyond traditional telecommunications.

The company already operates one of Zimbabwe’s largest digital financial ecosystems through its fintech businesses, creating vast amounts of transaction and consumer data that could potentially be leveraged to develop AI-powered financial services, credit assessment tools, fraud prevention systems and personalised banking solutions.

Similarly, the company’s extensive telecommunications network generates significant volumes of data that could be utilised to enhance customer experiences, improve network efficiency and support the development of new digital products.

The shift comes at a time when governments and businesses across Africa are seeking to position themselves within the emerging global AI economy.

While much of the global discussion around artificial intelligence has focused on the United States, China and Europe, African telecommunications companies increasingly view AI as an opportunity to leapfrog traditional development constraints and create new technology-driven business models.

For Zimbabwe, Econet’s transformation could contribute to the development of a broader digital ecosystem capable of supporting innovation, entrepreneurship and technological advancement.

The company’s investments in infrastructure, digital finance and artificial intelligence are likely to play a critical role in shaping the future of Zimbabwe’s technology sector, particularly as demand for cloud computing, data analytics, digital payments and intelligent business solutions continues to grow.

The convergence of telecommunications, fintech, infrastructure and artificial intelligence also reflects a wider global trend in which traditional industry boundaries are becoming increasingly blurred. Companies that once specialised in a single sector are now building integrated digital ecosystems designed to capture value across multiple segments of the digital economy.

As Zimbabwe accelerates its own digital transformation agenda, Econet’s strategic pivot suggests that the next chapter of growth will be driven less by voice and data revenues and more by technology platforms, digital services and artificial intelligence-powered innovation.

For a company that helped connect Zimbabwe to the mobile revolution more than two decades ago, the challenge now is to position itself at the centre of the country’s AI revolution. If successful, the transition could redefine not only Econet’s future, but also the trajectory of Zimbabwe’s broader digital economy.

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National Foods Ltd has delivered a major vote of confidence in Zimbabwe’s increasingly predictable economic environment after announcing multi-million-dollar investments earmarked for the near future.

The fresh capital deployment follows a highly successful US$22,5 million expansion into value-added portfolios that has already achieved near-maximum capacity utilisation in just over a year.

Speaking to journalists on Thursday following a media tour of the company’s extensive processing facilities in the Workington industrial area, chief executive Mr Mike Lashbrook revealed that the company’s aggressive capital expenditure was a direct response to a robust domestic economic trajectory, strengthening consumer purchasing power and predictable policy frameworks.

The tour served as a strategic curtain-raiser for the upcoming Zimbabwe Industrialisation Conference and Expo (ZICE 2026), scheduled to take place in Harare from July 23–24.

The event is aimed at highlighting the private sector’s front-facing role in driving the country’s industrialisation and import-substitution agendas.

It is being organised by the Ministry of Industry and Commerce in partnership with regional think tank Africa Economic Development Strategies (AEDS) and national trade promotion body ZimTrade.

The validation mirrors positive sentiment from Delta Corporation, the country’s largest beverage maker, which also credited prevailing macroeconomic policies with unlocking new avenues for investment and industrial expansion.

Taken together, these sentiments represent a significant vote of confidence from the heavyweights of Zimbabwe’s private sector.

Mr Lashbrook noted the massive capital outlays were a calculated vote of confidence in the underlying fundamentals of the economy, which continues to be anchored by strong performances in the mining and agricultural sectors as well as a stable local currency, Zimbabwe Gold (ZiG).

“We are very positive about what we see. The economy is in a robust state and we are experiencing strong growth that is directly feeding into consumer spending power,” Mr Lashbrook said.

“We don’t see that stopping. These are big, long-term investments for the future and we wouldn’t be committing this scale of capital if we didn’t have total confidence in local economic policies and the resilience of our consumers.”

Source: Herald

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BEIJING – Zimbabwe has taken a significant step towards expanding its access to international development finance after formally engaging with the Asian Infrastructure Investment Bank (AIIB) in Beijing, a move that could unlock billions of dollars in long-term infrastructure funding and strengthen the country’s economic transformation agenda.

The high-level engagement follows Zimbabwe’s formal expression of interest in joining the Beijing-headquartered multilateral development institution in May 2026 through a letter addressed to AIIB President and Chair of the Board of Directors, Jiayi Zou.

Leading the Zimbabwean delegation was Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube, accompanied by senior Treasury officials, who met with AIIB President Jiayi Zou and the bank’s executive management team to discuss Zimbabwe’s development priorities and the prospects for future cooperation.

The discussions centred on Zimbabwe’s National Development Strategy 2 (NDS2) covering the period 2026 to 2030, as well as the country’s broader Vision 2030 agenda, which seeks to transform Zimbabwe into an upper-middle-income economy through accelerated industrialisation, infrastructure development and private sector-led growth.

The engagement represents more than a diplomatic milestone. Economists say potential membership of the AIIB could provide Zimbabwe with access to a major new source of infrastructure financing at a time when developing economies are increasingly competing for capital to modernise transport systems, energy networks, water infrastructure and digital connectivity.

Established in 2016 and now comprising more than 100 member countries, the AIIB has emerged as one of the world’s most influential development finance institutions, funding large-scale infrastructure projects across Asia, Africa, Europe and Latin America. The bank was created to address infrastructure financing gaps and has rapidly built a multi-billion-dollar lending portfolio focused on sustainable development.

During the meeting, AIIB officials outlined the institution’s four strategic priorities: sustainable infrastructure development, green and climate-resilient infrastructure, regional connectivity and integration, and mobilisation of capital for private sector development financing.

These priorities closely align with Zimbabwe’s own economic objectives, particularly as the country seeks to overcome infrastructure deficits that have constrained industrial growth and investment competitiveness for decades.

Professor Ncube highlighted the convergence between Zimbabwe’s development agenda and the bank’s investment priorities, particularly in areas such as renewable energy, water security, irrigation infrastructure and climate adaptation projects.

He noted that Zimbabwe is actively seeking long-term development financing and technical partnerships to expand sustainable energy generation and hydro-infrastructure systems, both of which are critical to supporting economic growth, agricultural productivity and industrialisation.

The importance of such financing cannot be overstated. Infrastructure remains one of the biggest constraints to Zimbabwe’s economic expansion. Frequent electricity shortages, ageing water systems, transport bottlenecks and climate-related challenges continue to increase the cost of doing business and limit the country’s competitiveness in regional and global markets.

Access to AIIB funding could significantly accelerate major infrastructure projects while reducing dependence on short-term and expensive financing mechanisms.

The potential benefits extend beyond infrastructure alone. Improved transport networks would lower logistics costs for exporters, making Zimbabwean products more competitive in regional and international markets. Enhanced energy infrastructure would support manufacturing growth, mining expansion and agricultural processing industries. Investments in water infrastructure would strengthen irrigation capacity and improve resilience against recurring droughts that have affected agricultural output.

The meeting also underscored Zimbabwe’s growing international credibility following recent macroeconomic stabilisation efforts.

AIIB President Jiayi Zou reportedly commended Zimbabwe’s progress in restoring macroeconomic stability, particularly the achievement of single-digit inflation, describing the gains as an important foundation for sustainable development and long-term infrastructure investment.

Her remarks are significant because international financial institutions typically place strong emphasis on macroeconomic stability when evaluating investment and lending opportunities. Stable inflation, fiscal discipline and predictable economic policies reduce investment risk and improve the viability of large-scale infrastructure projects.

The positive assessment from the AIIB leadership is likely to be viewed favourably by international investors and development partners who continue to monitor Zimbabwe’s economic reform programme.

Beyond infrastructure financing, AIIB membership could also strengthen Zimbabwe’s economic engagement with Asia, the world’s fastest-growing economic region. Membership would provide access to technical expertise, project preparation facilities and potential co-financing arrangements with other multilateral development institutions.

For Zimbabwe’s trade sector, enhanced infrastructure financing could prove transformative. Improved roads, railways, border facilities and energy systems would facilitate greater participation in regional value chains under the African Continental Free Trade Area (AfCFTA), while reducing export costs and attracting export-oriented investment.

The country’s mining sector could particularly benefit from improved infrastructure, enabling greater value addition and mineral beneficiation. Agriculture could also gain from expanded irrigation infrastructure and improved logistics networks, supporting efforts to increase agricultural exports and food security.

Private sector development is another area likely to receive a boost. One of AIIB’s strategic pillars focuses on mobilising capital for private sector financing, which could create new opportunities for Zimbabwean businesses seeking investment in manufacturing, logistics, renewable energy and technology sectors.

The engagement comes at a time when many African countries are increasingly looking towards emerging multilateral institutions to complement traditional sources of development finance. As global competition for infrastructure investment intensifies, access to institutions such as the AIIB is becoming an important component of national development strategies.

Both Zimbabwe and the AIIB agreed to continue technical discussions regarding the country’s prospective membership and the development of a future project pipeline. The commitment reflects a shared interest in advancing sustainable, inclusive and climate-resilient infrastructure growth.

For Zimbabwe, successful accession to the AIIB could represent a significant turning point in its development financing strategy. Beyond providing access to capital, membership has the potential to accelerate infrastructure modernisation, strengthen trade competitiveness, attract private investment and support the country’s ambition of achieving upper-middle-income status by 2030.

As infrastructure increasingly becomes the foundation upon which modern economies compete, Zimbabwe’s engagement with the AIIB may ultimately prove to be as much about future trade and industrial growth as it is about financing roads, dams and power stations.

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