Zimbabwe’s diamond industry has been thriving in the past three years.
Although the country’s diamond, gold and mineral revenues are wide, Zimbabwe expanded its diamond production from 2.8 million carats in 2018 to 4.1 million carats in 2019. The growth in the gold mining production rose from 32.5 to 40 tonnes between 2018 and 2019.
Although encouraging data, the Zimbabwean economy does not thrive due to corruption and looting allegations in the sector.
In October 2019, the US banned trading rough diamonds with Zimbabwe under the accusation of human rights violations of implementing forced labour at its diamond fields in eastern Marange diamond fields.
This comes as part of a wider US ban against the importation of goods produced through forced labour in China, Malaysia, the Democratic Republic of Congo (DRC), and Brazil.
According to a statement by the US embassy in Harare, there are allegations that Zimbabwe operates forced labour in Marange diamond fields. In response, Zimbabwe’s Mines and Mining Development Minister Winston Chitando expressed his aspiration to increase diamond production to 11 million carats by 2023 as part of an ambitious plan to reach a standard of $12 billion of earnings from the mining sector every year.
In addition, he plans to increase gold export revenues to $4 billion in four years.
Back in 2016, ex-Robert Mugabe’s government centralized all the diamond activity to a newly established state-owned company, Zimbabwe Consolidated Mining Company (ZCMC).
Zimbabwe’s private sector growth could be explained by its new alliances with Russia and China, after it could no longer rely on the US.
According to Chitando, there will be four foreign companies that are ought to accelerate and boost diamond output, mostly from the eastern Chiadzwa area.
Among them are Russia’s Alrosa and Chinese-owned Anjin.
After refusing to merge with ZMCM in 2016, Alrosa has gotten a new opportunity to resume the mining of diamonds in Chiadzwa.
In another development, Karo Resources, partly owned by South Africa’s Tharisa Holdings, is building an integrated platinum mine and refinery while a Russian consortium together with Zimbabwean investors are developing a platinum project near Harare.
Anjin, a joint venture between Chinese Anhui Foreign Economic Construction Corporation (AFECC) and the Zimbabwean army, resumed mining in the Marange diamond fields in May 2019.
Data released by Global Witness investigations tell us that the Zimbabwean government owns only 10 percent of the group while the Zimbabwean army owns 40 percent of it.
Through the years, Zimbabwe’s security forces have proven themselves to act as a key ingredient of keeping the ruling party in power, often through violent means.
They, in return, have benefitted from the rewards reaped by this. The army’s role in the diamond industry has been one of the indications of this mutually symbiotic relationship.
The selection of army-owned Anjin indicates this dynamic may not be changed.
New investment in the diamond sector comes at a time when the Zimbabwean economy is plummeting following a history of bad governance, missing revenues, and shady operators.
With mass unemployment, high-priced basic goods, and dwindling cash supplies, Zimbabwe simply cannot afford an opportunity to benefit from its natural platinum ores.
Another aspect that stands in the way is the smuggling of natural resources.
Billions of US dollars’ worth of gold are being smuggled out of Africa every year through the United Arab Emirates (UAE) into the Middle East, which became a gateway to markets in Europe, the United States and beyond.
Customs data shows that the UAE imported US$15.1 billion worth of gold from Africa in 2016 at a total weight of 446 tonnes.
Much of the gold was not recorded in the exports of African states.
The United Nations database shows that the UAE has been a prime destination for gold from many African states in the last decade. Between 2006 and 2016, the share of African gold in UAE’s reported gold imports increased from 18 percent to nearly 50 percent.
The UAE reported gold imports from 46 African countries for 2016 at a total rate of US$7.4 billion worth of gold, while trading in gold accounts for nearly one-fifth of UAE’s GDP.
The UAE’s main commodity marketplace is the Dubai Multi-Commodities Centre (DMCC) and its head of commodities Sanjeev Dutta said in January this year that they are building strategic relationships with most gold-producing countries on the African continent.
Even though the high level of instability and shady business, some borderline investors have been drawn to the opportunities embodied in Zimbabwe as a vast free trade area.
The most prominent of them is Alexander Zingman who holds both Belarusian and American citizenship.
Zingman has close ties with the Zimbabwean and Belarusian top political elites.
Smart Jet Aviation Flight records show that Zingman hosted Emmerson and Leya Mnangagwa on his M-ABEC private jet in July 2018.
Zingman has been invited to President Mnangagwa’s house multiple times.
According to open source media, Emmerson Mnangagwa Junior was a guest at Zingman’s chic restaurant, Falcone, in Minsk. Although his attempt to remain under the radar, Social Media photographs expose his presence in many acute cooperation milestones between Zimbabwe and Belarus between 2017 and 2019. First, Zingman attended the March 2018 summit in which Belarus Chief of Presidential Affairs, Victor Sheiman, and President Mnangagwa signed $68 million worth of deals across various economic sectors.
Zingman was spotted again on the September 2018 visit of Sheiman to Mnangagwa’s residency to discuss previously signed deals.
Zingman and Sheiman met with Chitando, Energy and Power Development Minister Jorum Gumbo, and Reserve Bank of Zimbabwe Governor John Mangudya.
A year later, a video uploaded by ZBC News revealed that Zingman took part in the creation of the joint venture to create a Zimbabwean-Belarusian transport company for the delivery of goods from Zimbabwe to Mozambique.
In January last year, President Mnangagwa met with his Russian counterpart, Vladimir Putin, in Moscow, to discuss cooperation in the fields of oil, mining projects, platinum extraction and diamond exploration, financial issues, and projects in agriculture.
Two weeks after, Zingman was appointed as Zimbabwe’s Honorary Consul in Belarus.
Photographs from the event expose an impressive network of both countries’ political leaders, among them Deputy Foreign Minister of Belarus, Andrei Dapkiunas, the head of the Development Bank of the Republic of Belarus (DBRB), Andrei Zhishkevich, Zimbabwe’s Finance and Economic Development Minister Mthuli Ncube and others.
They discussed the DBRB’s plans to continue financing a $120 million worth of Belarusian agriculture, construction and mining equipment in Zimbabwe.
The Belarusian oligarch’s appointment occurring just after Mnangagwa’s meeting with Putin to discuss cooperation in platinum extraction and diamond exploration may seem just as a coincidence.
However, there are few more pieces of the puzzle that raise the suspicion that Mnangagwa may have wanted to protect his businesses with Zingman and keep them away from the public eye. Zingman’s new office is located in the building of the President Hotel, which is managed by the Belize United Democratic Party (UDP).
On the same floor lies the UAE based AFTRADE DMCC (Dubai Multi Commodities Center), which supplies Belarusian equipment to Africa.
DMCC zone excuses residents from tax duty as well.
His new position is located near diamond exports and friendship with Mnangagwa exposes him to information about diamond exports passing through the country. According to open-source information, Zingman transfers illegal money to one of his two bank accounts in the UAE, one in Ajman Bank in Dubai and one in FAB Head office – Business Park in Abu Dhabi.
In addition, his close relationship with the President of AFREXIMBANK, Benedict Oramah, links him with the company STAR Strategic Assets III LP.
Zingman’s right hand, Oleg Voldchic, also works at AFREXIMBANK.
Zingman is also a co-owner of the Polish agricultural company Kontraktus with his Polish stakeholder, Witold Karcewszki, which actively trades with Belarus.
Therefore, he clearly has a financial interest in the area.
If diamonds play a role in alleviating Zimbabwean economic woes, improved governance of the sector is crucial.
The most important aspect in reforming Zimbabwe’s diamond sector is transparency.
This would allow monitoring the supply chain of the diamonds to prevent corruption or human rights abuses. So far, the Zimbabwean government fails to fully account for diamond and other mineral revenues although they are still doing business with Eastern European countries and the Middle East, using middlemen such as Alexander Zingman.
Info News
Renewable Energy and the Future of Sustainable Development
Renewable energy has become one of the fastest-growing sectors in the global economy as countries seek sustainable alternatives to fossil fuels. Solar power, wind energy, geothermal systems, and hydroelectric projects are helping reduce environmental pollution while supporting long-term economic growth and energy security.
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One of the main advantages of renewable energy is that it produces significantly lower greenhouse gas emissions compared to traditional energy sources. Solar panels and wind turbines generate electricity without releasing harmful pollutants into the atmosphere. This helps combat climate change while reducing health risks associated with air pollution.
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Developing countries are increasingly investing in renewable energy projects to expand electricity access and reduce dependence on imported fuels. In many African nations, solar power systems are helping rural communities gain access to reliable electricity for schools, hospitals, and businesses. Renewable energy industries are also creating employment opportunities in engineering, manufacturing, and construction sectors.
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Despite its benefits, renewable energy still faces challenges including infrastructure costs, energy storage limitations, and inconsistent weather conditions affecting power generation. However, technological advancements and government incentives continue driving innovation in clean energy systems. Experts believe renewable energy will play a major role in shaping future global economies and environmental sustainability efforts.
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Energy Business Opportunities in Texas: Where Growth Meets Profit in 2026
Texas continues to stand out as one of the most powerful energy markets in the world. Known for its dominance in oil and gas, the state has also become a leader in renewable energy, making it one of the most diverse and opportunity-rich regions for entrepreneurs and investors. Whether you’re looking to enter traditional energy sectors or explore newer, sustainable options, the energy business in Texas offers significant potential for long-term growth and profitability.
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With a strong infrastructure, business-friendly regulations, and increasing demand for power, Texas provides a unique environment where both large corporations and small startups can thrive. Understanding the different segments of the energy industry and where opportunities exist is key to making informed investment decisions.
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Why Texas Is a Global Energy Leader
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Texas produces more energy than any other state in the U.S., making it a central hub for both domestic and international energy markets. The state’s vast natural resources, including oil, natural gas, and wind, have created a strong foundation for continued growth.
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In addition to resource availability, Texas benefits from a favorable regulatory environment that encourages investment and innovation. The state’s independent power grid and competitive energy market provide flexibility for businesses to operate efficiently.
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Key Sectors in the Texas Energy Industry
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The energy sector in Texas is broad and diverse, offering opportunities across multiple industries. Here are some of the most important areas to consider:
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1. Oil and Gas
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Texas remains a leader in oil and gas production. Opportunities exist in exploration, drilling, transportation, and support services. While the industry can be cyclical, it continues to generate significant revenue.
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2. Renewable Energy
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Texas is also a national leader in wind energy and rapidly expanding its solar capacity. Investing in renewable energy projects such as wind farms and solar installations is becoming increasingly attractive.
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3. Energy Infrastructure
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The demand for pipelines, storage facilities, and transmission systems continues to grow. These infrastructure projects are essential for supporting both traditional and renewable energy sectors.
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4. Energy Consulting and Services
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Businesses that provide consulting, maintenance, and technical services are in high demand. These services help energy companies operate more efficiently and comply with regulations.
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Emerging Opportunities in 2026
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As the energy industry evolves, new opportunities are emerging. One of the most significant trends is the growth of clean energy technologies. Companies are investing in battery storage, carbon capture, and hydrogen energy to reduce environmental impact.
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Another growing area is energy technology and data analytics. Businesses are using advanced software and artificial intelligence to optimize production and improve efficiency. These innovations are creating new roles and investment opportunities within the sector.
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Benefits of Starting an Energy Business in Texas
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Starting an energy-related business in Texas offers several advantages. The state’s strong economy and high energy demand provide a stable market for growth. Access to skilled labor and established infrastructure also supports business operations.
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Additionally, Texas offers tax incentives and programs that encourage investment in both traditional and renewable energy projects. These incentives can significantly reduce startup costs and improve profitability.
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Challenges to Consider
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While the opportunities are substantial, the energy industry also comes with challenges. Market volatility can affect oil and gas prices, impacting profitability. Regulatory changes and environmental concerns can also influence operations.
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Competition is another factor. The Texas energy market is highly competitive, requiring businesses to differentiate themselves through innovation and efficiency.
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Careful planning, market research, and risk management are essential for overcoming these challenges.
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How to Get Started in the Energy Business
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Entering the energy sector requires a clear strategy and understanding of the market. Start by identifying the specific area you want to focus on, whether it’s oil and gas, renewable energy, or support services.
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Conduct thorough research on market trends, demand, and competition. Developing a solid business plan is crucial for securing funding and guiding your operations.
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Networking with industry professionals and partnering with experienced companies can also provide valuable insights and opportunities.
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Financing and Investment Options
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Energy projects often require significant capital, but there are various financing options available. These include private investors, venture capital, bank loans, and government grants.
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Renewable energy projects, in particular, may qualify for additional funding and incentives. Understanding these options can help you secure the resources needed to launch and grow your business.
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Future Outlook for the Texas Energy Market
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The future of the energy business in Texas looks promising. As demand for energy continues to rise, both traditional and renewable sectors are expected to grow. Advances in technology and increasing focus on sustainability will shape the industry in the coming years.
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Businesses that adapt to these changes and invest in innovation will be well-positioned for success. The combination of strong demand, supportive policies, and diverse opportunities makes Texas a top destination for energy investments.
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Final Thoughts
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The energy business in Texas offers a wide range of opportunities for entrepreneurs and investors. From oil and gas to renewable energy and emerging technologies, the state provides a dynamic environment for growth.
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By understanding the market, choosing the right sector, and planning carefully, you can build a successful energy business that thrives in this competitive landscape. With the right approach, Texas remains one of the best places to invest in energy in 2026 and beyond.
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Industry experts recommend working with licensed energy consultants, certified engineers, and reputable energy investment firms to ensure compliance, efficiency, and long-term success in the energy sector.
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