Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, announced that Zimbabwe has officially joined the New Development Bank (NDB), commonly known as the BRICS Bank, during a plenary session of the Zimbabwe Industrialisation Conference and Expo 2026 at the Harare International Conference Centre (HICC), yesterday.
Professor Ncube described Zimbabwe’s accession to the New Development Bank as a major milestone in the country’s economic transformation agenda.
“Zimbabwe has officially joined the New Development Bank, the BRICS Bank. This milestone secures access to development finance, strengthens economic partnerships with BRICS nations and gives Zimbabwe a voice in global decision-making,” said Professor Ncube.
He said the development was aligned with Zimbabwe’s vision of becoming an upper-middle-income economy and would bolster the country’s efforts to accelerate industrialisation and sustainable economic growth.
“The New Development Bank represents an important platform for mobilising long-term development finance.
Our membership is not only about accessing financial resources, but also about strengthening our strategic partnerships with some of the world’s fastest-growing economies. It places Zimbabwe in a stronger position to participate in shaping discussions on development financing and economic cooperation,” he said.
Professor Ncube noted that access to affordable and sustainable financing remains critical in driving infrastructure development, industrial expansion and economic diversification.
“Industrialisation requires patient capital. It requires investments in energy, transport infrastructure, water systems and productive sectors of the economy.
Membership of the New Development Bank creates opportunities for Zimbabwe to pursue these priorities while advancing our national development aspirations,” he said.
He added that Zimbabwe’s inclusion in the BRICS-backed financial institution would complement ongoing economic reforms aimed at improving the investment climate and enhancing productivity across key sectors of the economy.
“Through strategic partnerships and access to development finance, we will continue creating conditions that support private sector growth, innovation and value addition.
Industrialisation remains central to our economic agenda, and this achievement further strengthens our capacity to deliver inclusive and sustainable development,” Professor Ncube said.
Zimbabwe’s membership of the New Development Bank is expected to open new opportunities for financing transformative projects as the country continues implementing policies aimed at accelerating economic growth and industrial development.
