HARARE – Invictus Energy is accelerating its Cabora Bassa oil and gas project in Muzarabani, marking a major step in Zimbabwe’s quest for energy independence. With a new well planned for 2025 and the country’s first-ever 3D seismic survey, the company is set for a transformative year.
In a press statement released today, Frontier CEO Gayle Meikle praised Invictus Energy’s progress and its role in shaping Zimbabwe’s energy future.
“Developing Zimbabwe’s oil and gas sector requires vision, resilience, and commitment, and I am proud to see these qualities reflected in the remarkable progress made by Invictus Energy,” Meikle stated.
She highlighted the endorsement of Invictus Energy by the Mutapa Investment Fund (MIF), Zimbabwe’s sovereign wealth fund, as a key milestone. “Last year, Invictus successfully secured a two-stage share placement with local institutional investors, underwritten in part by MIF, demonstrating strong national confidence in the company’s mission and the long-term economic impact of the Cabora Bassa project,” she added.
Invictus Energy’s operations have generated hundreds of jobs, with over 80% of its workforce being Zimbabwean. Seismic survey programmes in 2021 and 2023, conducted with Polaris Natural Resources, created over 200 local jobs, reinforcing the project’s economic benefits.
Meikle emphasised the company’s commitment to sustainable economic growth. “Beyond exploration, Invictus Energy is making a tangible difference by driving economic growth and job creation, contributing meaningfully to Zimbabwe’s prosperity,” she said.
Invictus Energy’s growing presence in the energy sector will be highlighted at the Africa Energies Summit in London (13th–15th May 2025), where the company will be a key partner.
Scott Macmillan, Managing Director & CEO of Invictus Energy, will present insights on the Cabora Bassa project, investment opportunities, and Zimbabwe’s energy future. Additionally, Simba Chinyemba, CEO of the Mutapa Investment Fund, will speak on Zimbabwe’s resource monetisation strategy and sovereign investment’s role in energy security.
Meikle expressed excitement about Invictus’ participation in the event, stating: “We are honoured to have Invictus Energy as a key partner at the Africa Energies Summit. Their leadership in Zimbabwe’s oil and gas sector is paving the way for a stronger, energy-secure future.”
With substantial backing from local and international investors, Invictus Energy is positioning itself as a leading player in Zimbabwe’s oil and gas industry. The company’s 2025 drilling campaign could mark a turning point, unlocking significant hydrocarbon reserves and reshaping Zimbabwe’s economic landscape.
Meikle concluded: “The road ahead is filled with potential, and I look forward to seeing the Invictus team continue to lead the charge in unlocking Zimbabwe’s hydrocarbon wealth.”
With exploration efforts ramping up, all eyes are on Cabora Bassa, as Zimbabwe stands on the brink of a major energy breakthrough.
