Zimbabwe has unveiled a major financial-sector development plan aimed at unlocking investment, improving access to finance and strengthening the country's business environment over the next five years.

The Cabinet-approved Financial Sector Development Strategy (2026–2030) seeks to transform the banking, insurance, pension and capital markets into a stronger and more competitive financial system.

Finance Minister Professor Mthuli Ncube presented the strategy to Cabinet, with the government highlighting its importance in mobilising long-term savings and directing capital towards productive sectors such as agriculture, manufacturing and infrastructure.

According to Information Minister Dr Zhemu Soda, Zimbabwe's banking sector deposits have increased from approximately US$2 billion in 2017 to US$7 billion in 2026, reflecting growth in the country's financial system.

The new framework will prioritise financial stability, improved banking infrastructure, capital market development, financial literacy, innovation and wider access to financial services.

Professor Ncube also called on commercial banks to respond more quickly to reductions in central bank policy rates by lowering their own lending rates. He argued that expensive borrowing can limit investment and make it difficult for businesses to expand.

For Zimbabwean businesses, the strategy could create opportunities for improved financing and increased investment, particularly if financial institutions translate the proposed reforms into more accessible and affordable lending.

The government expects the framework to support economic growth, strengthen investor confidence and contribute to its Vision 2030 development ambitions.