9 min read

How to Make Money in Zimbabwe This Year

September 9, 2024

With the rampant increase in unemployment that we are currently experiencing in Zimbabwe, more people are trying to have a stable income and improve their lives.

There is a lot of despair among unemployed youths because most of them cannot find a job to uphold their livelihoods. However, despite these challenges, opportunities abound for those who are resourceful, innovative, and willing to put in the work.

So whether you’re a local entrepreneur, a diaspora looking to invest back home, or a foreign investor seeking new opportunities, Zimbabwe offers a range of avenues to make money.

In this blog post, we will explore how to make money in Zimbabwe. We’ll also provide practical tips and insights to help you succeed.

How to Make Money in Zimbabwe

1. Agriculture

a. Crop farming

Agriculture is one of the backbones of Zimbabwe’s economy, contributing significantly to the country’s GDP and employing a large portion of the population. With fertile soils and favorable climatic conditions, crop farming is a lucrative venture.

Maize farming: Maize is a staple food in Zimbabwe, making it a high-demand crop. With proper land preparation, seed selection, and farming techniques, maize farming can be profitable. Consider selling to local markets, grain millers, or even exporting.
Tobacco farming: Zimbabwe is one of the largest producers of tobacco in Africa. This cash crop is in high demand both locally and internationally. However, it requires significant investment in inputs and labor, so it’s essential to plan and budget carefully.
Horticulture: Growing fruits and vegetables such as tomatoes, onions, and mangoes can be a profitable venture. With the rise of health-conscious consumers, organic farming presents an even greater opportunity.

b. Livestock farming

Livestock farming is another lucrative sector in Zimbabwe. Cattle, goats, sheep, and poultry are in high demand for both meat and dairy products.

Cattle ranching: Beef and dairy farming are profitable due to the consistent demand for meat and milk. With proper management and access to veterinary services, cattle ranching can yield substantial returns.
Poultry farming: Poultry farming, particularly broiler and layer production, is a quick-return business. The demand for chicken and eggs is high, making this a viable business option.
Goat and sheep farming: Goats and sheep are easier to manage compared to cattle and are less susceptible to diseases. They are also in demand for meat, milk, and even wool in certain regions.

2. Mining and natural resources

Zimbabwe is rich in natural resources, including gold, diamonds, and platinum. The mining sector presents a significant opportunity for those willing to invest.

a. Gold mining

Gold mining has historically been a major contributor to Zimbabwe’s economy. Small-scale and artisanal miners, often referred to as “makorokoza,” have tapped into this resource with varying degrees of success. However, with the right equipment, legal permits, and understanding of the mining process, gold mining can be highly profitable.

b. Diamond mining

Zimbabwe is home to some of the world’s largest diamond deposits, particularly in the Marange fields. Diamond mining requires significant capital investment and adherence to stringent regulations, but the potential returns are substantial.

c. Platinum mining

Zimbabwe is the third-largest producer of platinum in the world. The Great Dyke region is rich in platinum deposits, making it a prime location for mining ventures. This industry requires significant investment and expertise but offers long-term profitability.

3. Tourism

Zimbabwe is a country blessed with stunning natural beauty, from the majestic Victoria Falls to the diverse wildlife in Hwange National Park. The tourism industry presents numerous opportunities for making money.

a. Tour guide and travel agencies

If you have a passion for Zimbabwe’s history, culture, and natural wonders, consider becoming a tour guide or starting a travel agency. Offering personalized tours, cultural experiences, and adventure activities can attract both local and international tourists.

b. Accommodation and hospitality

Investing in accommodation facilities such as lodges, guest houses, or bed-and-breakfasts can be a profitable venture. With the increase in domestic tourism and international visitors, there’s a growing demand for comfortable and affordable lodging options.

c. Eco-tourism and conservation projects

Eco-tourism is on the rise globally, and Zimbabwe is no exception. Establishing eco-friendly lodges or conservation projects that focus on wildlife preservation can attract environmentally-conscious tourists. Additionally, partnering with NGOs and conservation groups can provide funding and support.

4. Digital opportunities

With the rise of the internet and digital technology, making money online has become a viable option in Zimbabwe. Whether you’re tech-savvy or just starting, there are various online opportunities to explore.

a. Freelancing

Freelancing platforms like Upwork, Freelancer, and Fiverr offer opportunities to work on projects for clients worldwide. Skills such as graphic design, writing, web development, and digital marketing are in high demand.

b. E-commerce

Starting an online store to sell products locally or internationally is another way to make money. Platforms like Shopify, WooCommerce, and Etsy allow you to set up an online store with relative ease. Consider selling Zimbabwean crafts, fashion, or agricultural products to a global audience.

c. Blogging and content creation

If you have a passion for writing, photography, or video production, consider starting a blog or YouTube channel. Monetizing your content through ads, sponsorships, and affiliate marketing can generate income. Focus on niches like travel, culture, or personal finance to attract a dedicated audience.

5. Real estate

The real estate market in Zimbabwe offers substantial opportunities for those looking to invest in property. Despite economic challenges, the demand for housing and commercial spaces remains strong.

a. Residential property development

Developing residential properties, whether for sale or rental, is a lucrative venture. With urbanization and population growth, there’s a growing demand for affordable housing in cities like Harare and Bulawayo. Consider investing in gated communities, apartments, or low-cost housing projects.

b. Commercial property investment

Investing in commercial properties such as office spaces, shopping centers, or industrial warehouses can yield significant returns. The key is to identify strategic locations with high demand and potential for growth.

c. Land speculation

Buying and holding land in strategic locations can be a profitable long-term investment. As cities expand, the value of land in suburban and peri-urban areas tends to appreciate, offering potential for future development or resale at a higher price.

6. Manufacturing and production

Zimbabwe’s manufacturing sector offers opportunities to produce goods for both local consumption and export. With the right equipment, expertise, and market research, manufacturing can be a highly profitable venture.

a. Textile and garment production

The textile and garment industry in Zimbabwe has the potential for growth, especially with the rise of local fashion designers and brands. Producing clothing, uniforms, or textiles for export can be a profitable business.

b. Food and beverage production

With the agricultural sector as a foundation, food and beverage production is a natural extension. Consider producing packaged foods, beverages, or processed agricultural products. The growing middle class in Zimbabwe presents a market for high-quality, locally-produced goods.

c. Construction materials

The construction industry in Zimbabwe is growing, driven by infrastructure development and urbanization. Producing construction materials such as bricks, cement, and roofing sheets can be a lucrative business, especially in areas experiencing rapid growth.

7. Investing in the stock market and bonds

For those with a keen interest in finance and investing, the Zimbabwe Stock Exchange (ZSE) offers opportunities to invest in publicly traded companies. Additionally, government and corporate bonds provide a relatively low-risk investment option.

a. Stock market investment

Investing in the ZSE requires a good understanding of the market, including the performance of various companies and sectors. Diversifying your portfolio and investing in companies with strong growth potential can yield significant returns.

b. Bonds and fixed-income securities

Bonds, both government and corporate, are a safer investment option compared to stocks. They provide a fixed interest income over a specified period, making them ideal for conservative investors.

8. Education and training services

The demand for quality education and skills training in Zimbabwe continues to rise. Investing in education and training services can be a rewarding and impactful business.

a. Private schools and tutoring services

Private schools, especially those offering specialized curricula or international qualifications, are in high demand. Additionally, tutoring services for subjects like mathematics, science, and languages can attract students looking to improve their academic performance.

b. Vocational training and skill development

With the need for skilled labor in various industries, vocational training centers that offer courses in fields like mechanics, plumbing, and IT can be profitable. Focus on practical skills that are in high demand in the job market.

c. Online courses and e-learning platforms

The rise of e-learning has opened up new opportunities for education entrepreneurs. Creating and selling online courses on platforms like Udemy, Coursera, or Teachable can generate income while providing valuable knowledge to learners.

9. Renewable energy and green technology

As the world shifts towards sustainable energy solutions, investing in renewable energy and green technology in Zimbabwe presents significant opportunities.

a. Solar energy solutions

Zimbabwe experiences abundant sunshine throughout the year, making solar energy a viable and sustainable option. Investing in solar panel installation, solar-powered irrigation systems, or solar water heaters can be a profitable business, especially in rural areas.

b. Biogas and biomass energy

Biogas and biomass energy solutions offer an alternative to traditional fossil fuels, particularly in rural communities. Establishing biogas plants or biomass energy production facilities can provide a sustainable source of energy while reducing environmental impact.

c. Waste management and recycling

With growing concerns about environmental sustainability, waste management and recycling businesses are gaining traction. Starting a recycling facility or waste management service can contribute to environmental conservation while generating income.

Conclusion

Success in Zimbabwe requires careful planning, understanding of the local market, and adaptability to economic changes. By leveraging your skills, knowledge, and resources, you can navigate the challenges and seize the opportunities that this vibrant country has to offer.

Embrace the entrepreneurial spirit, stay informed about market trends, and remain persistent. With the right approach and a positive mindset, you can achieve financial success and contribute to Zimbabwe’s economic growth.

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