Harare - President Emmerson Dambudzo Mnangagwa has appointed businessman and Senator Kudakwashe Tagwirei as Minister of Economic Development and Investment Promotion with immediate effect.
The appointment was announced in a press statement dated 8 October 2026 from the Office of the President and Cabinet, signed by Chief Secretary to the President and Cabinet Dr M. Rushwaya.
The statement reads:
"In terms of Section 104, Subsection (1) of the Constitution of Zimbabwe, His Excellency the President, Cde Dr Emmerson Dambudzo Mnangagwa has appointed Kudakwashe Tagwirei as Minister of Economic Development and Investment Promotion. The appointment is with immediate effect."_
The statement was stamped by the Chief Secretary to the President and Cabinet on 08 OCT 2026.
From Boardroom to Cabinet
Tagwirei's appointment to Cabinet is a major elevation. The founder of Sakunda Holdings - with interests in energy, agriculture, mining and logistics - he has been one of the most influential business figures in Zimbabwe over the past decade.
In August 2026, Tagwirei was among 10 additional Senators appointed by President Mnangagwa under Constitutional Amendment No. 3, which expanded the Senate from 80 to 90 seats. He was sworn in as Senator on 18 August 2026.
He also sits on the ZANU-PF Central Committee and chairs the Land Tenure Implementation Committee, and has been a key advisor to the President on economic programmes including Command Agriculture and the Presidential Inputs Scheme.
A Controversial Figure
The appointment is likely to attract significant attention locally and internationally. Tagwirei has been under United States sanctions since 2020 under the Global Magnitsky programme and under UK Global Anti-Corruption sanctions since 2021, over allegations related to state contracts. He has consistently denied any wrongdoing.
His supporters credit him with driving investment in fuel supply, infrastructure and agriculture, while critics have questioned the close relationship between his business empire and government contracts.
The new portfolio - Economic Development and Investment Promotion - is seen as central to the National Development Strategy 2 (NDS2) 2026-2030, government's blueprint towards Vision 2030.
The Office of the President and Cabinet is expected to announce the swearing-in ceremony date in due course.
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