UAE Invests $1.4 Billion in Zimbabwe's Economy

Zimbabwe has seen a significant shift in its foreign relations, as the United Arab Emirates (UAE) has become its largest trading partner, surpassing China with $1.4 billion in investments since 2022. This investment primarily targets sectors such as gold trading and real estate, reflecting the UAE's strategy to enhance its influence across Africa. Political science professor Eldred Masunungure noted the UAE's rapid rise from obscurity to becoming Zimbabwe's main trading ally. In addition to ongoing projects like a 'cyber city' in Mount Hampden, the UAE's involvement offers a potential lifeline amid Zimbabwe's economic struggles, marked by a $21 billion debt and persistent inflation. However, experts caution that the scale of UAE investments may not be sufficient to stabilize Zimbabwe's economy, which largely operates in the informal sector. The ongoing partnership aligns with the UAE's broader foreign policy objectives, although skepticism remains regarding Zimbabwe's economic sustainability.