Broke Mnangagwa Regime Seeks US 200M For ICT Project – Eduzim News

Tinashe Sambiri– Zimbabwe’s cash-strapped government under Emmerson Mnangagwa is reportedly seeking to raise more than US$200 million to fund a telecommunications satellite project, raising questions about the country’s financial priorities amid deepening economic challenges.

The plan was revealed by Finance, Economic Development and Investment Promotion Minister Mthuli Ncube during the Zimbabwe Investment and Development Agency (ZIDA) 2026 Business Knowledge Process Outsourcing (BKPO) breakfast forum this week.

The proposed satellite project is being framed by the government as part of its digital transformation strategy, although critics say the administration is increasingly relying on external funding for ambitious projects while basic services remain underfunded.

Speaking at the forum, Ncube acknowledged that the government is actively seeking financiers to bankroll the costly initiative.

“The success of this industry relies on strong ICT infrastructure and connectivity,” Ncube said.
“Our project of launching a communications satellite is part of this digital economy push.”

He further admitted that authorities are scrambling to mobilise funds for the project.

“We are trying to raise over US$200 million to support the launch of a telecom satellite, which will improve connectivity and strengthen our ICT infrastructure,” he said.

Ncube indicated that the government has already begun approaching potential lenders and investors to secure the funding needed to move the project forward.

However, the announcement is likely to spark debate over the government’s ability to fund large-scale technological ventures at a time when Zimbabwe continues to grapple with economic instability, mounting debt and widespread infrastructure challenges.

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