Zimbabwean companies invested about US$88 million in local merger transactions during the first half of 2026, as businesses intensified strategic acquisitions aimed at expanding operations and strengthening industrial capacity.
The figure represents a significant increase from the approximately US$57 million recorded during the same period last year, according to statistics from the Competition and Tariff Commission (CTC).
The rise in local merger activity comes amid growing efforts by companies to consolidate operations, mobilise capital and expand into new areas of business, with manufacturing, hospitality and digital services accounting for a significant share of transactions approved during the period.
CTC chairperson Jimmy Pscillos said the commission had recorded a notable increase in the overall value of mergers handled during the first six months of the year.
“The Commission recorded a notable increase in the value of merger transactions handled during the first half of 2026. Notwithstanding the relatively modest increase in the number of transactions handled, the Commission considered 13 mergers with a combined transaction value of US$590 million compared with the corresponding period in 2025,” he said.
However, foreign-to-foreign transactions accounted for the largest share of the total value, contributing about US$502 million, or 85 percent, while domestic transactions accounted for the remaining US$88 million.
“The significant increase in transaction value was largely driven by foreign-to-foreign mergers, which accounted for about US$502 million or 85 percent of the total value realised during the period under review; local transactions accounted for the remaining US$88 million,” Pscillos said.
University of Zimbabwe Business Studies lecturer Dr Nyasha Kaseke said strategic mergers could provide companies with opportunities to move beyond their traditional operations while supporting wider economic growth.
“The trajectory in which we are moving is like a path that needs concerted efforts towards facilitating overall growth. If companies are looking beyond the reach of just operating, but also focusing on those key areas that can benefit the economy, then this is highly appreciated,” he said.
Dr Kaseke said access to capital would remain critical in determining whether mergers could translate into sustainable expansion and increased economic activity.
“Industry needs money, but if there are those firms that have huge capital outlay, then they can invest only if such mergers do not harm the economy. In the long term, it is all about the ability of such amalgamation to provide a real basis for growth,” he said.
The continued merger activity is expected to provide companies with opportunities to consolidate resources, expand their market presence and support industrial development, provided transactions remain compliant with competition regulations and contribute to productive economic activity.
