Foreign investment in a “reserved sector of the economy” (including distribution, artisanal mining, road passenger transportation, among others) is allowed subject to approval by the Minister.
"2. Interpretation
"(1) In this Act—
“reserved sector of the economy” means the sector comprising those kinds of businesses reserved for citizens of Zimbabwe under the First Schedule;
[...]
2A. Application of Act
For the avoidance of doubt it is declared that this Act shall not apply to any business in the national economy other than those specified in section 3(1) and those in the reserved sector of the economy, and that accordingly any person is free to invest in, form, operate, and acquire the ownership or control of any business not included in section 3(1) or in the reserved sector of the economy.
Part II – Indigenisation and economic empowerment: General objectives and measures[...]
3A. Reserved sectors of the economy
(1) Subject to subsections (2) and (10), only a business owned by a person who is a citizen of Zimbabwe may operate in the reserved sector of the economy.
(2) Every business owned by a person who is not a citizen of Zimbabwe that, before the 1st January, 2018, commenced operating in the reserved sector of the economy may continue to operate if— (a) it registers itself with— (i) the Zimbabwe Revenue Authority; (ii) the Unit, in accordance with subsection (3); and (b) it opens and maintains a bank account in accordance with the Bank Use Promotion Act [Chapter 24:24].[...]
(4) Any person who is not a Zimbabwean citizen and who, after the 1st January, 2018, wishes to operate a business in the reserved sector of the economy shall seek the permission of the Minister referred to in subsection (10).[...]
(10) Subject to subsection (11), a person who is not a Zimbabwean citizen may, after the 1St January, 2018, invest in a business in the reserved sector of the economy if that business meets such criteria or threshold as the Minister will prescribe based on the following objectives— (a) significant and sustainable employment creation in Zimbabwe; (b) the transfer of skills and technology for the benefit of the people of Zimbabwe; (c) the creation of sustainable value chains; (d) other prescribed socially and economically desirable objectives.
[...]
First Schedule (Section 3A(1))
Reserved/threshold sectors 
1. Transportation: passenger buses, taxes and car hire services. 2. Retail and wholesale trade. 3. Barber shops, hairdressing and beauty saloons. 4. Employment Agencies. 5. Estate Agencies. 6. Valet services. 7. Grain milling. 8. Bakeries. 9. Tobacco grading and  packaging. 10. Advertising Agencies. 11. Provision of local arts and craft, marketing and distribution. 12. Artisanal mining. [...]" (Indigenisation and Economic Empowerment Act (Chapter 14:33) of 2008, as amended)
Indigenisation and Economic Empowerment Act (Chapter 14:33) of 2008, as amended
[<a href="https://zimlii.org/akn/zw/act/2007/14/eng@2018-03-14">Act</a>],[<a href="https://zimlii.org/akn/zw/act/2020/10/eng@2020-12-31">Amend</a>]