Zimbabwe Lithium Industry Poised for $3.2 bn Revenue as Exports Triple

Zimbabwe’s lithium sector is expected to generate about US$1 billion in turnover this year and rise to US$3.2 billion once new processing plants reach full capacity, according to Innocent Rukweza, chairman of the Lithium Producers Association of Zimbabwe. Exports of lithium surged to US$782 million in the first half of 2026, more than tripling the US$237 million earned in the same period of 2025, making Zimbabwe Africa’s largest lithium producer. The government plans to ban raw lithium concentrate exports from 2027, pushing companies such as Acadia to process lithium sulphate domestically and capture higher value.

At the same time, the Treasury, led by Finance Minister Mthuli Ncube, is targeting a 5 percent real GDP growth rate for 2027 despite risks from an El Niño‑related drought and volatile commodity prices. The Reserve Bank of Zimbabwe also delayed the full phase‑out of the US dollar in favour of the gold‑backed ZiG currency until around 2030, citing the need for stable inflation and exchange rates before the new legal tender can be fully adopted.