Source: Ecobank bets on Zimbabwe’s lithium boom –Newsday Zimbabwe

ECOBANK Zimbabwe Limited (EZL) plans to expand funding into the country’s growing lithium sector as it positions itself within the battery minerals value chain, after deploying US$369 million to mining operators and related businesses between 2021 and 2025.

The bank’s audited results for the year ended December 31, 2025, show deposits rose 41,3% to ZiG20,4 billion (about US$785,1 million), while the loan book increased 71,7% to ZiG11,87 billion (US$456,8 million).

Shareholders’ equity rose 60,2% to ZiG4 billion (US$153,9 million), while core capital increased to US$129,1 million, strengthening the bank’s capacity to finance large-scale mining and beneficiation projects.

EZL said Zimbabwe was at a key point in the global energy transition, with significant lithium resources and rising demand creating opportunities for value addition and industrial growth.

“It needs capital. It needs infrastructure. It needs energy reliability. It needs trade connections,” the lender said.

The bank said it has a significantly stronger funding base from which to support Zimbabwe’s lithium ambitions, with rising deposits, a larger loan book and improved capital levels.

“With significant lithium resources and growing global demand, our nation has the opportunity to move beyond extraction towards value addition, beneficiation and long-term industrial growth.”

The lender said it had become one of the few local banks to surpass US$100 million in revenue in 2025, driven by strong lending and transaction activity.

Net interest income rose 134% to ZiG1,17 billion, while non-interest income increased 99% to ZiG2,38 billion, supported by higher transaction volumes and demand for trade finance and cash management services.

Fee and commission income grew 116% to ZiG1,75 billion.

Total assets increased 41,1% to ZiG25,29 billion (about US$973,4 million), bringing the bank close to the US$1 billion mark and boosting its capacity to finance capital-intensive mining projects.

EZL said it remained committed to supporting Zimbabwe’s mining sector through structured commodity trade finance and digital payment systems to facilitate trade and exports.

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