Munetsi becomes the second Zimbabwean player to be in Wolves' books after striker Tawanda Chirewa.
Chirewa was on target when the Warriors faced Bafana Bafana in a 2026 Fifa World Cup qualifier in Bloemfontein in June 2024.
However, Chirewa has been loaned out to League One side Huddersfield Town.
“Obviously, Tawanda messaged me as soon as he saw the news," said Munetsi on Wolves' website.
"He was so excited, so at least now he's going to have his big brother there. So, it was very good."