THE Airports Company of Zimbabwe (ACZ) is restructuring its business model to reduce reliance on aviation income, pivoting towards more stable revenue streams as it seeks to “shock-proof” its finances against future global disruptions.
The move follows lessons from recent years, when travel restrictions and global economic shocks exposed the vulnerability of airport revenues heavily dependent on aircraft movements and passenger traffic.
ACZ chief executive Tawanda Gusha said the company is now building alternative income lines designed to remain resilient even when flight activity slows.
“The ACZ is proactively diversifying its revenue by enhancing non-aeronautical streams,” he said, outlining a strategy spanning retail, property development, logistics and energy. Currently, about 17% of ACZ’s revenue comes from non-aeronautical activities — a modest share the company aims to grow.
“Currently, approximately 17% of our revenue is generated from non-aeronautical sources, and we aim to exceed 20% by the end of this fiscal year,” Gusha said.
Globally, leading airports generate more than half their income from non-aeronautical streams, providing insulation against downturns in travel demand.
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The aviation sector remains highly exposed to shocks ranging from pandemics and fuel price volatility to geopolitical tensions and economic slowdowns, all of which can sharply reduce passenger volumes.
Against this backdrop, ACZ’s diversification drive is as much about risk management as growth.
“This includes upgrading retail spaces, improving car park services, partnering with reputable concessionaires, and commercialising airport land for business development,” Gusha said. Retail outlets, parking facilities and concession agreements offer relatively stable income that can continue generating revenue even when flight activity declines. ACZ is also pursuing large-scale infrastructure projects to create new economic activity around its airports.
“We are making significant progress on our plan to construct a Cargo Village at Robert Gabriel Mugabe International Airport, which is a key national project expected to stimulate related businesses,” he said.
The cargo facility is expected to generate more consistent revenue, as freight demand is often driven by trade flows rather than tourism cycles. Improved cargo capacity could also strengthen Zimbabwe’s integration into regional supply chains.
ACZ is simultaneously repositioning its airports as commercial hubs through “airport city” developments.
“Our initial strategy involved increasing capacity and modernising three of our international airports: Robert Gabriel Mugabe International Airport, Joshua Mqabuko Nkomo International Airport, and Victoria Falls International Airport,” Gusha said.
“With that infrastructure now in place, we are now focused on developing airport cities by leveraging airport land and infrastructure,” he added, citing plans for hospitality and lifestyle centres, as well as residential property developments. The authority is also investing in renewable energy.
“Furthermore, we are committed to advancing green energy adoption; by the end of 2027, all our airports will be fully powered by solar energy, with surplus energy contributing to the grid,” Gusha said.