The Ministry of Industry and Commerce has launched a ZiG100 million Industrial Development Fund (IDF) aimed at strengthening domestic value chains and accelerating industrial growth across the country.
In a statement released today, the Ministry said the fund will be administered by the National Venture Capital Company of Zimbabwe (NVCCZ), which will oversee allocation and ensure resources are channelled towards high-impact projects.
“The Ministry of Industry and Commerce has launched the ZiG100 million Industrial Development Fund targeted at supporting and strengthening domestic value chains and promoting industrial growth. The Fund will be managed by the National Venture Capital Company of Zimbabwe,” the Ministry said.
The new facility is expected to play a catalytic role in revitalising local industries, which continue to face capital constraints, outdated machinery and limited access to affordable financing.
The Ministry said the IDF would prioritise sectors with strong potential to unlock value addition, enhance productivity and contribute to export growth.
“The Ministry targets to provide patient and concessionary capital and is, therefore, inviting bankable applications from manufacturers seeking to expand, retool or innovate, in pursuit of the industrialisation agenda,” it said.
According to the statement, the fund is open to existing corporates engaged in manufacturing and value-adding activities across all ten provinces. Eligible applicants must demonstrate the viability of their proposals and their ability to contribute to national industrial growth targets.
“The IDF targets existing corporates engaged in manufacturing and value-adding activities across the country’s ten provinces,” the Ministry noted.
Priority will be given to projects that strengthen value chains and create opportunities for breakthrough innovations. The Ministry said such interventions are essential for building a competitive industrial sector capable of meeting domestic demand and reducing reliance on imports.
“Priority will be given to funding areas that strengthen value chains that could lead to breakthrough innovative solutions to our industrialisation drive,” it said.
The launch of the IDF is part of broader government efforts to accelerate industrial transformation under the National Development Strategy, which emphasises value addition and beneficiation.
Manufacturers can now submit applications to the NVCCZ for consideration, with successful proposals expected to begin accessing support in the coming months.
