Zimbabwe is now a member of the New Development Bank (NDB), which is also known as the BRICS Bank. The membership gives the country access to long-term financing for infrastructure, energy and industrial development projects.
With this, Zimbabwe joins South Africa, Egypt and Algeria as African members of the bank. The country has also officially applied to join BRICS, as it seeks closer economic cooperation with the bloc and new sources of development funding.
This decision was announced by Finance, Economic Development and Investment Promotion Minister – Mthuli Ncube in Harare on July 23, 2026. These countries became part of the bank as African members of the Shanghai-based institution. Followed by an initial application submitted by Zimbabwe in 2023.
As per the sources, this will provide long-term funding for sustainable growth, industrialisation and energy initiatives. It will strengthen economic partnerships with emerging economies in the global south. Also, it will enhance Zimbabwe’s representation in international financial decision-making.
Zimbabwe 🇿🇼 is now a member of the New Development Bank (NDB), also known as the BRICS Bank.
The membership gives the country access to long-term financing for infrastructure, energy and industrial development projects.
Zimbabwe joins South Africa 🇿🇦, Egypt 🇪🇬 and Algeria 🇩🇿… pic.twitter.com/OTrA1ZVay9
— Africa View Facts (@AfricaViewFacts) July 25, 2026
Minister of Women Affairs, Community, Small and Medium Enterprises Development – Monica Mutsvangwa highlighted the contribution of micro, small and medium-sized enterprises to Zimbabwe’s economy. She noted that the sector accounts for around 60% of the country’s GDP and about 70% of its gold production.
Considering this, Minister of Foreign Affairs and International Trade – Amon Murwira said that Zimbabwe’s economic diplomacy strategy was focused on expanding trade opportunities and integrating the country into regional and global markets. He added that when they invest in themselves, they create confidence that attracts significant capital. He would like to emphasise that their strategy as a country, their trade and foreign policy strategy is to be bold enough to open their markets.
Furthermore, Zimbabwe’s admission follows the recent expansion of the New Development Bank, with Uzbekistan becoming its first Central Asian shareholder in June 2026 and Indonesia joining the institution after becoming a BRICS member, broadening the bank’s presence across emerging economies.
The New Development Bank, established by the BRICS countries in 2015, provides financing for infrastructure and sustainable development projects in emerging markets and developing economies. Its headquarters are located in Shanghai, China.