Stanbic Bank has called on mining stakeholders to work together to unlock the full potential of the sector and its value chain.
The Standard Bank Group Subsidiary’s Chief Executive (CE), Solomon Nyanhongo said the mining sector has the potential to drive sustainable growth and development across Africa and beyond especially if key stakeholders all work together towards achieving this goal.
Nyanhongo told participants at the just-ended Chamber of Mines Conference that Stanbic Bank is on hand to contribute towards this goal through its regional and international partnerships which give it an edge in the industry. Said Nyanhongo:
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Stanbic has dedicated and experienced relationship managers whose sole purpose is to ensure our clients receive all the necessary support.
The bank also leverages the support of a specialised Mining &amp; Metals desk at Standard Bank Group level which helps us to efficiently assess running mining projects and offer specialised advice where required.
Several mining houses have leveraged off facilities which has allowed them to purchase new equipment and refurbish existing plants.
Stanbic Bank has extended its services to assist clients with the understanding of various exchange control and legislative requirements as changes take place.
The Bank has developed customized financial literacy sessions that speak directly to the mining sector and its operations ensuring total compliance for their clients.
He said Stanbic Bank has adopted an intentional growth strategy for the mining industry for the past 30 years as it plays a pivotal role in boosting the sector in line with National Targets.
To that end, the leading financial services institution commands a 40% market share in the mining sector. 
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Nyanhongo said Stanbic Bank understands the vital role that mining plays in Zimbabwe’s economy and is proud and committed to supporting this industry through its banking services and financial expertise. He said:
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It is imperative to utilise and maximise on platforms such as the Conference and its unique opportunity to come together, share insights and experiences, and collaborate on solutions to the challenges facing our sector and hopefully forge new partnerships.
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The attendance by Standard Bank Group representatives – Mark Buncombe, Global Head Mining, and Sean Evans, Mining Executive – Platinum and Diamonds, demonstrated Stanbic’s commitment and involvement with the Chamber of Mines.
Recent statistics show that Zimbabwe’s Mineral Exports topped US$5,6 Billion in 2022 compared to 2.7 billion in 2017 a 100% growth within a space of 5 years.
Nyanhongo said such a growth rate was commendable given the time mining projects take to reach the full production stage adding that more could be achieved with concerted efforts from all stakeholders.
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Stanbic Bank Calls For Unity Of Purpose In Mining

Stanbic Bank is this month celebrating 30 years of providing financial services in Zimbabwe.
In a statement to mark three decades of existence in the southern African country, Stanbic Bank’s Chief Executive, Solomon Nyanhongo said the institution is committed to making Zimbabwe great. Nyanhongo said:
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We have contributed millions of dollars to support several infrastructure development initiatives with a direct bearing on the economic development of the country. As we always say, Zimbabwe is our home and we are determined to drive her growth. We are more than committed to make Zimbabwe great.
We are here for our clients. We love our clients and we will continue to work for them and come up with innovative growth strategies for their benefit.
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He said it was fitting that the institution was celebrating 30 years at the same time its parent company, The Standard Bank Group, was also celebrating 160 years of operating.
Nyanhongo paid tribute to all Stanbic Bank stakeholders past and present who played a pivotal role in establishing Stanbic Bank from its inception in 1992 to date, some of them who have since left.
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Stanbic Bank Zimbabwe Celebrates 30 Years

Stanbic Bank has appointed its Chief Financial Officer, Solomon Nyanhongo as Chief Executive (CE) with effect from 1 January 2021.
Nyanhongo takes over from Joshua Tapambgwa who leaves after 18 illustrious years with the leading financial services institution.
The Board Chairman of the Standard Bank Group subsidiary, Gregory Sebborn welcomed Nyanhongo to the helm of the institution and was looking forward to his astute management skills to carry the organisation forward. Said Sebborn:
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Please join us in congratulating Solomon as he assumes his challenging new position and we look forward to him continuing to drive growth and innovation in the Bank for the benefit of its many and varied customers.
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Nyanhongo joined the bank in 2003 as a Senior Manager, Finance. He was then appointed Head of Finance in 2009 and subsequently Chief Financial Officer in the same year, a position he has held till his recent appointment.
Nyanhongo is a Chartered Accountant who also holds various qualifications, amongst which is a Master’s in Business Administration (MBA) from Nottingham Trent University (UK) Bachelor of Accounting Science (Honours) from University of South Africa (UNISA) and an Honours Accounting degree from the University of Zimbabwe (UZ).
Sebborn had kind words for Tapambgwa who he described as an astute, dedicated team player. He said:
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Tapambgwa will forever leave an indelible mark on Stanbic Bank as he helped steer the ship during turbulent times for the economy at large but in particular the banking sector.
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Nyanhongo said he was looking forward to his new challenge with excitement and was raring to go. He said:
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Stanbic Bank is a big institution and being appointed to take it forward is a challenge I welcome with both hands.
Having worked closely with Josh (Tapambgwa) and observing how he rode all challenges we faced will hold me in good stead going forward.
Tapambgwa leaves the institution in fine fettle and I am committed to taking it even further as we move into the era of the “new normal” which calls for innovation as the world embraces digitization and the menacing COVID 19.
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