Harare- President Emmerson Mnangagwa on Monday officially commissioned Ecobank Zimbabwe’s new head office in Harare, describing the facility as evidence that Zimbabwe is a favourable destination for capital and investment under his administration’s reform agenda.

Speaking at the official opening ceremony in the capital, Mnangagwa noted that the building is the first head office constructed and owned by the Ecobank Group in the Southern African region.

“The fact that this Head Office of the Ecobank Group is the first one to be constructed and owned by Ecobank in the Southern Africa region reflects that Zimbabwe is a favourable destination for capital and investments,” he said.

The ceremony coincided with Ecobank’s 40th anniversary as a Pan-African banking institution, which Mnangagwa described as a milestone reflecting the group’s “resilience, visionary and unshakable belief in the Pan African story.”

The President commended local architects, engineers, project managers and construction teams for delivering the Borrowdale facility, invoking the Shona and Ndebele proverb: “Nyika inovakwa, inotongwa, inonamatigwa nevene vayo/Ilizwe lakhiwa, libuswe, likulekelwe ngabanikazi balo”, a country is built, governed and prayed for by its people.

“You have demonstrated that the capacities and skills of Zimbabweans are world-class, and that given the opportunity, we can build to global standards. The new building before us is therefore not just a bank; it is a testament to local capability and ingenuity,” he said.

Mnangagwa praised the building’s sustainability features, including solar-control glazing, rainwater harvesting infrastructure and smart energy-efficient systems, noting that the design had been endorsed by the International Finance Corporation and certified by the Excellence in Design for Greater Efficiencies programme.

He said the integration of sustainability into the bank’s operations aligned with the National Development Strategy 2 (NDS 2), expressing confidence that Ecobank would become “an engine room for transformation” driving modernisation, industrialisation and development.

The President acknowledged Ecobank Zimbabwe’s recognition as the country’s Top Bank for 2025, an award the institution has won consecutively since 2021, saying it reflected the bank’s deep roots across economic sectors.

“Congratulations, you are working well and your work is speaking for you in the market. Hold this recognition with pride and continue to serve our beloved motherland, Zimbabwe, with discipline, honesty and integrity,” he said.

Mnangagwa urged the bank and other financial sector players to embrace fair practices, ethical management and prudent lending, and challenged African financial institutions to “think outside the box to advance the African Agenda.”

He applauded the bank’s financial inclusion initiatives targeting women and youth-led businesses, as well as its corporate social responsibility programmes in sports, creative and cultural industries, and education. He also acknowledged Ecobank’s support for the Police Commissioners’ Stakeholder Committee in fighting crime.

Turning to his administration’s flagship policy, Mnangagwa said barriers to investment and trade continued to be removed.

“Under the Second Republic, I made a declaration that Zimbabwe is Open for Business. Barriers to investment and trade continue to be removed and a conducive business environment is being entrenched. We will continue to do more to ensure shared prosperity and development that leaves no one and no place behind,” he said.

“Today, as we officially open this asset, I therefore look at Ecobank with pride; I see a partner that has answered our call for win-win partnership and shared prosperity. Ecobank is Open for Business.”

He exhorted the bank’s local executive and staff to use the facility to support NDS 2 pillars, including deploying capital to support value addition in agriculture and mining, using digital tools to empower youth and women entrepreneurs, and complementing government efforts towards Vision 2030.

The event was attended by Vice Presidents Constantino Chiwenga and Kembo Mohadi, ZANU PF Chairman and Defence Minister Oppah Muchinguri-Kashiri, Finance Minister Mthuli Ncube, Reserve Bank Governor John Mushayavanhu, and Ecobank Group Chairperson Papa Ndiaye, among other senior government officials and business leaders.

Mnangagwa also wished the Ecobank Group success in its board meeting being held in Zimbabwe this week, thanking the institution for choosing the country as the venue.

“May this building stand as a permanent reminder that when we are united, confident in ourselves, hard-working and when we take ownership of our destiny, nothing is impossible,” he said.