Zimbabwe becomes new country to join BRICS Bank

Source: Monitor Mercantil | Original Published At: 2026-07-24 09:12:00 UTC

Key Points

• Zimbabwe officially joined the New Development Bank, also known as the BRICS Bank.
• Finance Minister Mthuli Ncube confirmed the accession while speaking at the Zimbabwe Industrialization Conference and Exhibition in Harare.
• The Ministry of Information said the step gives Zimbabwe access to development financing and strengthens economic ties with BRICS nations.
• The New Development Bank was created in 2014 by Brazil, Russia, India, China and South Africa and began operations in 2015.
• The bank is headquartered in Shanghai and is led by former Brazilian President Dilma Rousseff.
• Zimbabwe applied for NDB membership in 2023 and has also formally requested to join BRICS.