HARARE, Mar. 11 (NewsDay Live) – Zimbabwe is seeking more than US$200 million to finance the launch of a new telecommunications satellite aimed at improving digital connectivity and strengthening the country’s ICT infrastructure, Finance minister Mthuli Ncube has said.
Speaking at the Zimbabwe Investment and Development Agency (ZIDA) 2026 Business Knowledge Process Outsourcing (BKPO) breakfast forum, Ncube said the satellite project forms part of government efforts to support the country’s transition to a digital economy.
“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. 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 government was engaging potential financiers to support the project.
“We are talking to various potential sources of capital and hope we will succeed. It’s a new area for us — how to make money from satellites — so we have had to present a business case,” Ncube said.
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Zimbabwe recently launched its first satellite under the Zimbabwe National Geospatial and Space Agency (ZINGSA) programme, developed through international cooperation.