ZB Bank Secures UAE Market – Eduzim News

By Desmond Nleya in UAE| One of Zimbabwe’s leading financial institutions, ZB Bank, has secured a move to become the first Zimbabwean bank to establish a footprint in the Gulf region.

Speaking at an Annual General Meeting of the Zimbabwe Business Council in the UAE (ZIBCO) held in Dubai over the weekend, its Chairman, Mr. Simba Makahamadze, announced that the bank was on the verge of establishing its presence in Dubai’s financial sector.

This development is expected to unlock trade finance and strengthen institutional linkages between Zimbabwe and the UAE.

“Once concluded, this will mark a major milestone, unlocking trade finance and institutional linkages between Zimbabwe and the UAE,” said Mr. Makahamadze.

He further highlighted the partnership between ZB Bank and ZIBCO in driving economic growth and fostering business collaborations between the two countries.

“Over the past year, we co-hosted the Exporters Indaba in Zimbabwe in partnership with ZB Financial Holdings and Dubai Chambers. This platform brought together exporters, many of whom were engaging in international business for the first time,” he added.

Meanwhile, Zimbabwe’s Ambassador to the United Arab Emirates, His Excellency Isaac Moyo, who also attended the event, commended ZIBCO for its growing role in strengthening trade and investment ties between Zimbabwe and the UAE.

Ambassador Moyo described the organisation as a vital bridge connecting business communities in the two countries while fostering tangible economic opportunities.

“I commend the Zimbabwean community here in the UAE for the initiative to establish this organisation, which is actively facilitating business engagement between Zimbabwe and the UAE,” he said.

“Your work is being recognised by the Government of Zimbabwe, as evidenced by the recent Business Excellence Award presented to ZIBCO and some of its members. This recognition is well deserved.”

The Ambassador also acknowledged the continued support of Dubai Chambers and expressed optimism for deeper collaboration.

“Trade between our two countries continues to grow, but there remains significant potential to do more. Over the past five years, Zimbabwe has witnessed increased investment from the UAE, and ZIBCO plays an important role in advancing that momentum,” he added.

ZIBCO is a non-profit, member-based organisation founded in 2022 to promote trade between Zimbabwe and the UAE. Based in the UAE, it serves as a “soft landing” platform for businesses, connecting them with Dubai Chambers to enhance bilateral trade, networking, and investment opportunities.

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