Online Reporter
Ayanda Holo
Zimbabwe’s admission into the New Development Bank (NDB), popularly known as the BRICS Bank, is more than a diplomatic achievement for Harare.
It is a defining moment for Southern Africa and the African continent’s pursuit of economic autonomy, infrastructure-led development and a more stable global financial system.
As an African journalist and President of TV BRICS AFRICA, I congratulate President Emmerson Dambudzo Mnangagwa, Minister of Finance, Economic Development and Investment Promotion Professor Mthuli Ncube, the people of Zimbabwe and the leadership of the New Development Bank for commencing a new chapter in Zimbabwe’s development story.
This decision deserves recognition because it reveals confidence in Zimbabwe’s future and demonstrates that Africa’s development aspirations are increasingly being supported by institutions created by the Global South itself.
Development Finance at the right time
The timing could hardly be more significant. The African Development Bank’s Southern Africa Economic Outlook 2026 concludes that the region’s greatest challenge is not a lack of opportunities, but the inability to mobilise sufficient long-term capital for infrastructure, industrialisation and structural transformation.
This report identifies infrastructure deficits, weak domestic resource mobilisation and limited long-term financing as the principal constraints preventing faster economic growth.
The AfDB further argues that Southern Africa requires stronger development finance institutions, deeper regional capital markets, blended finance mechanisms and increased private investment if the region is to unlock long-term growth.
Zimbabwe’s membership of the BRICS Bank directly corresponds to these priorities.
It provides another avenue through which Zimbabwe can pursue financing for roads, railways, energy generation, irrigation systems, digital infrastructure, logistics corridors and industrial parks,
Tourism projects led by Minister Barbara Rwodzi require patient capital over many years rather than expensive short-term commercial loans.
A vote of confidence
Professor Ncube’s announcement that Zimbabwe had been admitted into the BRICS Bank signals international confidence in Zimbabwe’s economic path.
Zimbabwe’s Vision 2030 seeks to transform the country into an upper-middle-income economy through industrialisation, value addition, mining beneficiation, agricultural modernisation and manufacturing.
These ambitions cannot be realised without substantial development financing.
Although the membership of the BRICS Bank does not automatically guarantee funding for every project. Rather, it creates access to a multilateral institution whose mandate is to finance infrastructure and sustainable development across its member countries.
Sound governance, well-prepared projects, prudent debt management and proper implementation ultimately propel development.
Access to financing expands opportunities, but outcomes still depend on national execution.
Complementing Africa’s development architecture
Zimbabwe’s admission should not be viewed as replacing existing African institutions.
Instead, it complements institutions such as the African Development Bank, which continues to play a central role in financing Africa’s development agenda.
The AfDB emphasises that strengthening development finance institutions, expanding domestic capital markets and mobilising regional savings are all necessary to encourage sustainable growth across Southern Africa.
The BRICS Bank strengthens this ecosystem by providing an additional source of long-term development finance.
For African countries, diversification of financing sources enhances resilience.
The promise for Zimbabwe
Zimbabwe possesses extraordinary economic assets: Vast mineral resources vital for the global energy transition and is one of Africa’s strong agricultural traditions.
Its strategic transport links connect Southern, Central and Eastern Africa, enhancing growing opportunities under the African Continental Free Trade Area (AfCFTA).
With improved access to development finance, Zimbabwe has greater potential to invest in: railway modernisation, water infrastructure, power generation and transmission.
These investments have multiplier effects throughout the economy by improving productivity, creating employment and attracting private investment.
Strengthening South-South cooperation
Zimbabwe’s admission also reflects the growing importance of South-South cooperation.
The BRICS nations make up a significant share of global GDP, population and trade.
Beyond financing, membership creates opportunities for: technology transfer, industrial partnerships and expanded trade amongst the BRICS+ nations.
These cooperations are increasingly important as developing countries seek solutions designed around their own development priorities.
Fiscal sovereignty in a multipolar world
One of the defining debates of our era concerns the evolution of the international financial system.
Many developing nations have long argued that global financial governance should better reflect today’s multipolar economy.
Institutions such as the New Development Bank have emerged to complement the necessarily gap that exits in the international financial architecture by expanding the range of development financing options available to emerging economies.
For countries across Africa, having multiple credible sources of development finance strengthens policy flexibility and broadens opportunities to pursue nationally determined development priorities.
A message to Africa
Zimbabwe’s achievement carries lessons beyond its borders.
African countries increasingly recognise that infrastructure investment remains the foundation of industrialisation.
Across Africa, infrastructure remains the backbone of industrialisation: roads connect farmers to markets, reliable electricity attracts manufacturers, modern railways lower logistics costs, digital networks enable innovation and water systems improve public health and agricultural productivity.
Development finance matters only when it becomes visible in people’s lives: in stronger economies, better jobs, more resilient communities and greater confidence in Africa’s ability to shape its own future.
That is why Zimbabwe’s admission to the BRICS Bank should be understood not merely as a diplomatic milestone, but as a practical opportunity to turn long-term finance into lasting transformation.
A moment for African unity and shared development
As Africans, we should welcome every milestone that expands our continent’s capacity to finance its own future and build prosperity on its own terms.
Zimbabwe’s admission into the BRICS Bank is one such milestone, and it should inspire renewed confidence in Africa’s collective ability to shape its development path.
It reflects years of diplomacy, economic engagement and strategic vision by Zimbabwe’s leadership, while also pointing to a wider opportunity for African nations to work together with greater purpose.
The future of the region will be strengthened when countries combine their resources, connect their infrastructure, expand trade, share technology and support one another’s industrial ambitions.
Real work begins now, and it must be carried forward in a spirit of unity, cooperation and shared responsibility.
The true measure of success will not be Zimbabwe’s membership alone, but how effectively this opportunity is translated into modern infrastructure, productive industries, quality jobs, technological progress and better living standards for the people of Zimbabwe and the region.
If Africans meet this moment together, with confidence, discipline and a shared commitment to development, Zimbabwe’s admission into the BRICS Bank may be remembered not only as a national achievement, but as a positive step toward a more connected, self-reliant and prosperous Africa.
Ayanda Holo is the president for TV BRICS AFRICA (www.bricsafricachannel.com)
