ZIMBABWE’S banks are cautiously positioning for growth in 2026, buoyed by improving economic fundamentals and relative policy stability, while tightening risk management frameworks to shield themselves from currency pressures and global shocks.
Insights from chairpersons and executives of major lenders, contained in financial statements for the year ended December 31, 2025, show a sector cautiously optimistic about the outlook.
The confidence is anchored on projected economic expansion of around 5% and improving stability in key macroeconomic indicators.
CBZ Holdings Limited chairman Luxon Zembe said the domestic economy was expected to grow on the back of strong agricultural output, stable exchange rates and firm mineral prices.
“These fundamentals are expected to provide a supportive platform for economic activity across key sectors,” Zembe said.
However, he warned of risks emanating from global instability, particularly in the Gulf region and parts of Europe, adding that the group would rely on “prudent risk governance” and operational efficiencies to navigate the environment.
Banks are aligning growth strategies with stronger capital positions, digital transformation and partnerships aimed at unlocking new revenue streams.
At TN CyberTech Bank, chief executive officer Tawanda Nyambirai said the institution would drive growth through a “hyperintegration strategy” focused on partnerships.
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“Looking ahead, the bank will continue to pursue its hyperintegration strategy, which seeks to grow its customer base, unlock new revenue streams and enhance shareholder value,” Nyambirai said.
ZB Financial Holdings Limited chairperson Agnes Makamure echoed the positive outlook.
“Zimbabwe’s economy is projected to register positive growth of 5,0% in 2026,” she said.
But Makamure flagged significant downside risks, including foreign currency shortages, energy constraints and infrastructure gaps, alongside global headwinds such as geopolitical tensions and trade uncertainty.
She added that monetary authorities were likely to maintain tight policies to preserve stability, even as policymakers face the delicate task of balancing growth and inflation control.
Stability in inflation, interest rates and exchange rates is seen as critical to sustaining momentum after years of volatility that eroded confidence and disrupted financial intermediation.
FBC Holdings Limited chairman Herbert Nkala said the group was encouraged by a stable operating environment and would leverage its diversified model to grow shareholder value.
Similarly, NMB Bank chairman Pearson Gowero said growth would be anchored on stable macroeconomic indicators and enhanced access to credit lines.
He added that the bank would prioritise operational efficiency and digital innovation to deliver more accessible and cost-effective financial services.
At First Capital Bank Zimbabwe, chairman Patrick Devenish said the institution had strengthened its capital base, liquidity and governance frameworks to support long-term growth.
“The board is confident that First Capital Bank is strategically primed to navigate 2026 and the years beyond,” Devenish said, highlighting plans to invest in customer-centric innovation and enhance operational resilience.
The cautious optimism expressed by Zimbabwe’s financial leaders comes after a decade defined by extreme macroeconomic volatility.
For years, the sector struggled with hyperinflation and rapid currency depreciation that eroded capital bases and disrupted traditional financial intermediation.
The current focus on stability in inflation, interest rates, and exchange rates is seen as the critical foundation for sustaining the current momentum.
The projected 5% growth rate for 2026 is largely dependent on the performance of the “green” and “extractive” sectors.
As highlighted by CBZ, the recovery of agricultural productivity and the maintenance of high global prices for minerals such as gold and platinum remain the primary engines for the domestic economy.
Banks are increasingly looking to anchor their growth on these stable indicators while expanding access to credit lines for these productive sectors.
With traditional brick-and-mortar models facing high overheads, the sector is undergoing a massive shift toward digital innovation.
NMB Bank and First Capital Bank have both signaled that their 2026 strategies prioritise operational efficiency and “customer-centric innovation”.
By leveraging digital platforms, lenders aim to deliver more cost-effective services to a wider demographic, effectively bypass infrastructure gaps, and build “operational resilience” against local and global shocks.
