Zimbabwe secures $120 M investment as it begins BRICS bank membership talks

A regional investment board has conditionally approved a $120 million proposal linked to Zimbabwean businessman Batsirai Matiza. The funds are to be directed mainly into Zimbabwe’s mining, hospitality and agricultural sectors. Matiza was represented at the final deliberations by proxy Abdul Amman after he altered his travel plans, and the meeting proceeded despite a security incident that left two people dead in a suspected robbery targeting the delegation.

Separately, Zimbabwe’s government has opened formal negotiations to join the BRICS New Development Bank. Finance Minister Mthuli Ncube said the bank’s board has authorised the start of accession talks following a communication from Bank President Dilma Rousseff. Membership is expected to give Zimbabwe access to long‑term development financing for infrastructure and other priority projects, reinforcing its broader South‑South cooperation agenda.