Senior Clerical Assistant (Administration) – Grade 5

Records Assistant

Assistant Registrar – Faculties (Gweru)

Security Guards (Gweru, Harare, Kwekwe & Zvishavane campuses)

Technical Sales Person/ Aluminium (Harare)

Regional Monitoring, Evaluation & Learning (MEL) Officer (Bulawayo)

Boiler Maker (Harare)

Marketing & Sales Officer (Harare)

Compliance Officer (Harare)

Safety, Health and Environment Officer (Harare)

Vehicle Sales Consultant - JAC (Harare)

Vehicle Sales Consultant – DONG FENG (Harare)

Billing Supervisor (Harare)

Sales Representative (Harare)

Auto Electrician: Artisan (Chipinge)

Sales Representatives (Harare)

Director Human Resource (Mutare)

Legal & Compliance Manager (Harare)

Processes Analyst (Harare)

Finance Manager Corporate (Harare)

Established and upcoming artists are set to learn business and networking ropes during the well-structured two-day Stanbic Bank Jacaranda Business Conference which precedes the Stanbic Bank Jacaranda Music Festival from the second to the third of October.
The Stanbic Bank Jacaranda Business Conference will see top artists, and established business executives impart invaluable insights into how artists can maximise their talents to become successful businesspersons.
Stanbic Bank Jacaranda Music Festival spokesperson Tariro Chaniwa said the conference was established to create a platform for industry professionals, musicians, and stakeholders to discuss challenges, opportunities, and innovations within the music business. Said Chaniwa:
<blockquote>
The Stanbic Bank Jacaranda Music Business Conference started in 2018 and has grown significantly over the years. It aims to foster collaboration, share knowledge, and enhance the overall growth of the music industry in the region.
</blockquote>
The Business Conference precedes the country’s premier music festival, Stanbic Bank Jacaranda Music Festival which kicks off on the fourth and ends on the sixth of October.
Stanbic Bank is the headline sponsor of the Music festival to be held at the Thorn Park Polo Grounds. 
Chaniwa said the Stanbic Bank Jacaranda Business Conference is succeeding in achieving its intended goals with each year seeing increased participation from industry experts and emerging artists alike. 
She said the feedback from attendees reflects a growing awareness of music business issues, as well as an increase in networking and collaboration opportunities.
Chaniwa said the Conference is evolving but will retain some core elements from previous editions. She said:
This year, we are introducing more interactive sessions and panel discussions to encourage active participation. Additionally, there will be a greater focus on digital engagement and hybrid attendance options to accommodate a wider audience.
Chaniwa said the Ministry of Sports, Recreation Arts and Culture will deliver the keynote speech adding that there will be workshops focused on cultural infrastructure, music distribution, and IP issues.
The conference will also have networking sessions designed to connect emerging artists with established professionals. She said:
<blockquote>
The event slots have filled up so quickly to capacity, showing the hunger by artists to learn and develop themselves. This is pushing us to make this platform bigger and better to accommodate more people.
</blockquote>
Stanbic Bank Head of Enterprise Banking, Auxilia Kambasha said the Standard Bank Group subsidiary is pleased to expand its span of beneficiaries to include artists.
Kambasha said the Enterprise Banking unit caters for the needs of small to medium enterprises (SMEs) who benefit from well-thought-out initiatives by Stanbic Bank. Said Kambasha:
<blockquote>
To that end, artists both established and emerging are a perfect fit for us to work with as we seek to nurture and grow them into fully fledged businesses and entrepreneurs drawing from their talents.
Stanbic Bank organises financial fitness academies aimed at equipping SMEs with skills to handle their finances and artists fall perfectly into this category hence we are fully engaged in this business conference.
</blockquote>
Among speakers are local and regional artists such as Mantwa Chinoamadi (Standard Bank Joy of Jazz Festival Festival South Africa Creative Director); Connie Mazani, Artist Manager and Event Producer; Possenti N Sikosana (Skyz Metro FM; Tanaka Kachara, Scanlen and Holderness; David Molotlhanyi, Channel O South Africa); Prudence Mbofana; Gus Le Breton, Mlombo Music Festival among others.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Pindula News

Upcoming and established artists can learn about business at the Stanbic Bank Jacaranda Business Conference before the music festival. The conference will have talks on how artists can be successful. It aims to help the music industry grow. The conference will have interactive sessions and networking opportunities. There will be workshops on important topics. The conference is becoming more popular each year. Stanbic Bank is happy to support the artists and help them grow their businesses. The conference will have speakers from different fields in the music industry. It is a great opportunity for artists to learn and grow.

Stanbic Bank Conference Offers Business Insights For Artists

Stanbic Bank has opened three additional remote branches in Harare and Karoi as it plays a pivotal role in giving tobacco stakeholders real-time value and banking solutions during the ongoing selling season which opened mid-last month.
The three additional branches bring to 15 the total number of facilities the financial services institution has set up over the last three years as it seeks to offer banking convenience to farmers.
The Standard Bank Group subsidiary plays a significant role in the tobacco sector in Zimbabwe, by providing crucial financial services and support to various stakeholders involved in the production, processing, and marketing of tobacco.
Stanbic Head of Personal and Private Banking, Nelson Muhau said the institution is committed to delivering value to tobacco farmers, transporters, and value chain players in alignment with its vision of delivering exceptional client experiences and superior value.
Muhau said the setting up of three more implants was one such way of living up to that commitment as it brings banking facilities closer to the regions of production. Said Muhau:
<blockquote>
By actively engaging with value chain players and offering tailored financial products and services to the farmers in Zimbabwe, Stanbic Bank is playing a vital role in supporting the growth and sustainability of the agricultural sector and improving the livelihoods of farmers.
</blockquote>
He advised that by actively engaging the customers and understanding their unique challenges through multiple touch points, the bank is playing a key role in the development of the country.
Overall, customer service plays a vital role in fostering client relationships, ensuring satisfaction, building trust, and ultimately contributing to the success and growth of the bank.
Stanbic Bank’s Head of Agriculture Tawanda Maposah noted that the bank’s investment in the tobacco industry in Zimbabwe is unparalleled with the institution availing USD535m to tobacco merchants and primary producers linked to the major tobacco merchants and their value chains.
There are over 105,000 tobacco farmers growing tobacco while more than 95% of production is done through contract farming. Maposah said:
<blockquote>
We understand the importance of agriculture to the country’s economy, and we are committed to supporting the sector in every sustainable way possible.
Our crop financing and payment solutions are designed to meet the unique needs of farmers, and we have a team of experts who understand the sector and can provide tailored financial advice to our clients.
</blockquote>
Stanbic Bank is cognisant of the environment and encourages merchants through various interactions to adopt sustainable agricultural practices to ensure environmental preservation.
Zimbabwe is Africa’s largest tobacco producer. The annual tobacco-selling season opened in mid-March amid concerns by farmers of a sharp decline in harvest and quality induced by the drought and other weather elements such as El Nino.
Last year farmers produced 296 million kilograms and production is estimated to fall to around 235 million kilograms.
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Stanbic Bank Opens Additional Remote Branches For Tobacco Players

Stanbic Bank has established a financial fitness academy aimed at equipping Small to Medium Enterprises (SMEs) with the requisite skills to handle their finances and grow their businesses.
The financial fitness academy will be an annual event that will equip entrepreneurs with the relevant skills that will see them grow their business while compliant with the financial inclusion requirements in line with the National Financial Inclusion Strategy II, 2022- 2026 (NFIS II).
Stanbic Bank’s Head of Enterprise Banking, Auxilia Kambasha said the financial fitness academy will be in the form of training workshops countrywide through which customers are equipped with financial modelling to assist them in drawing up financial statements and tax compliance requirements, among other administrative and governance procedures. Said Kambasha:
<blockquote>
The overarching goal of the bank is to partner with our clients for growth. We are offering the training so that our clients develop and grow their businesses as they would have been equipped with financial basics that will assist them in making the right decisions.
The financial fitness academy will equip entrepreneurs with relevant skills that are critical and sustainable in achieving the growth of their business while being compliant.
</blockquote>
She said the first series of the training workshops recently kicked off in Gweru, Kwekwe and Chegutu.
Kambasha said that investing in critical skills in the promotion of SMEs will result in ripple effects in the growth of the economy which is the thrust of NFIS II. 
Financial inclusion is on the rise globally and continues to be a key enabler in wealth creation, poverty reduction, and improving the livelihoods of people in low-income groups.
Kambasha said Stanbic Bank is inspired by the quest to bring people and institutions together and maximise their interconnectedness for mutual benefit. She said:
<blockquote>
Stanbic Bank is aware that SMEs play a pivotal role in driving both developing and developed economies, contributing significantly to poverty reduction, employment creation, value addition, and economic resilience.
As Stanbic Bank we believe that developing economies must prioritise financial literacy, access to financial products and supporting frameworks that ensure holistic growth and development. 
</blockquote>
To that end, the Standard Bank Group subsidiary is committed to equipping SMEs with the key growth drivers on the back of the knowledge. 
Key factors that promote inclusion for SMEs include the cost of products and services; the complexity of financial products and services and the treatment received from service providers during the attempted access. Said Kambasha:
<blockquote>
As Stanbic Bank Zimbabwe Enterprise Banking, we are eager to train our customers in financial modelling to assist them in drawing up financial statements and tax compliance requirements, so that every business small or big moves together ushering in an era of development, poverty alleviation and resilience.
Our vision is “to achieve universal access and usage of a broad range of quality and affordable financial services that meet the needs of both individuals and enterprises.
</blockquote>
Kambasha said Stanbic Bank wants to ensure that every segment of Zimbabwean society has access to basic financial services irrespective of social or economic status, gender, or level of education.
She said access to, and usage of a broad range of quality and affordable financial products and services would open up opportunities for better livelihoods.
It provides a platform for low-income populations with the mechanisms to borrow, save and invest, and make payments. Further, it enables them to plan ahead and better manage their finances. Kambasha said:
<blockquote>
Our financial fitness model provides a framework that will lead to the development of a stable, resilient, competitive, and inclusive financial sector that contributes to economic growth and broad-based wealth creation.
</blockquote>
She added that Stanbic Bank understands that it has a role to play and is committed to actively working toward the attainment of enabling growth of SMEs.
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Stanbic Bank Embarks On Financial Fitness Workshops For SMEs

Leading financial services institution, Stanbic Bank has launched an innovative programme aimed at propping up the operations and welfare of small to medium enterprises (SMEs).
Named “Rise Above Incubator Programme”, the initiative will see 15 small to medium entrepreneurs, who have promising ideas and early-stage businesses, undergo a rigorous but rewarding 3-month intensive training and capacitation programme on how to run their operations sustainably and efficiently in Zimbabwe and beyond.
Stanbic Bank Head of Enterprise Banking, Auxilia Kambasha said the programme seeks to support innovative and driven entrepreneurs and unlock their potential to create employment opportunities as well as play a pivotal role in driving economic growth in Zimbabwe.
Kambasha said the term “Rise Above” was coined as a way of encouraging SMEs and the business community at large to excel against the odds. Said Kambasha:
<blockquote>
SMEs are being encouraged to “Rise Above” the pitfalls and challenges they face in their day-to-day operations.
We envisage the programme to give a holistic approach for SMEs to understand how businesses operate and how to run a sustainable business.
Participants will learn the best practices of how to run businesses efficiently over and above financial support.
</blockquote>
She said the programme is targeting to mould early-stage startups that have been in operation for 
no more than four years to become sustainable enterprises through technical training, mentorship 
and access to debt financing.
Entrepreneurs between 18-40 years are eligible for the programme. She said:
This programme is crucial in developing and retooling the skill levels of SME players countrywide given that participants are going to be drawn from throughout the country.
It was mooted in response to the challenges that most SMEs who visit the Stanbic Bank Incubator Hub face in their 
operations.
Ultimately the Programme will see three winners being given access to finance their projects, subject to them meeting the terms and conditions as well as being assigned a relationship manager.
Stanbic Bank Head of Business and Commercial Banking, Patson Mahatchi, said the Rise Above Programme was a testament to the bank’s commitment to drive Zimbabwe’s growth.
Mahatchi said Stanbic is aware that SMEs contribute close to 45% towards the country’s Gross Domestic Product (GDP) hence it is a key economic sector. He said:
<blockquote>
Unfortunately, due to various challenges, most of these businesses fail within their first and second year of operating.
As a bank, we realised that constraints were not solely limited to funding but included capacitation. From that notion, Stanbic Bank came up with the Incubator Hub.
</blockquote>
Stanbic Bank launched the Incubator Hub in 2019 to provide capacitation and support to budding small to medium businesses after realising the existing gap in the running of their operations.
The Incubator Hub offers SMEs a formal working area, a platform for entrepreneurs to meet and network among themselves, as well as rub shoulders with Stanbic Bank executives and other executives aligned to the institution.
Interested participants to the Rise Above Incubator Programme are currently going through an application and selection process which is being done strictly online.
The application period opened last week and closes on 19 March. After 19 March, the applications will be screened for eligibility by two selection committees with the first one rating the online applications and scaling them down to 50 applications.
The second committee will then rate the 50 applications online and take the best-scoring businesses and scale 
them down to 15 who will then undergo the training.
Applications will be screened according to their viability, sustainability, growth potential and scope 
for job creation.
The incubation programme will cover topics such as Business models; Feasibility Analysis; Needs assessment; Legal and Governance and Business financials and will end with a Business Award Ceremony where the three SMEs will be rewarded for their excellence during the three-month programme.
Participants will be equipped to ensure that they deliver value to their customers whilst being profitable enterprises as well as be helped to interrogate if their business model is adaptive to the business environment and if the timing of the business is correct.
The format of this incubation programme will combine workshop format, masterclasses and peer-to-peer collaboration, for the participants to benefit from the most practical trainings and examples and they can also learn best practices from each other.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Launches Innovative Programme To Prop Up Small To Medium Enterprises

Stanbic Bank has donated US$20 000 to the Cancer Association of Zimbabwe (CAZ) towards the purchasing of chemotherapy drugs for its members.
This year is the 10th consecutive year in which the Standard Bank Group subsidiary has assisted with the acquisition of drugs for CAZ as the institution demonstrates that it values not only financial success but the well-being of the communities it serves.
Stanbic Bank Manager, Brand and Advertising, Tariro Memo said the leading financial services institution is privileged to support the CAZ in its relentless fight against cancer. Said Memo:
<blockquote>
Our commitment to this cause goes beyond mere philanthropy; it is a testament to our dedication to the health and welfare of the people of Zimbabwe.
This contribution is a tangible expression of our solidarity with those battling cancer and a reaffirmation of our belief in the importance of healthcare initiatives.
</blockquote>
She said CAZ has been an unwavering force in the face of this formidable challenge, and Stanbic Bank is proud to stand by them as they make a difference in the lives of countless individuals.
Memo emphasized that Stanbic Bank’s support extended beyond financial donations adding that it reflected a shared vision of a healthier, more resilient society hence the 10 years of partnership, collaboration and shared determination with CAZ. Said Memo:
<blockquote>
CAZ’s work is a beacon of hope, and Stanbic is honoured to contribute to its cause. As we hand over these chemotherapy drugs, let it symbolize not just a material donation but a collective commitment to combating and fostering future wellness.
</blockquote>
She noted that Zimbabwean Cancer patients continue to face several challenges such as the breakdown of machinery at public cancer treatment centres, the high cost of medication and cancer services, centralization of cancer services which results in some patients having to travel long distances to visit the treatment centres.
CAZ general manager, Junior Mavu, said the 10-year-long partnership with Stanbic Bank served as a source of inspiration for the association to keep going despite the prevailing harsh operating environment.
Mavu said the donation plays a pivotal role in sustaining the lives of over 150 cancer patients who have undergone up to eight sessions of cancer treatment each with its course of drugs. Said Mavu:
<blockquote>
The Chemo Fund by Stanbic Bank has assisted 151 cancer patients made up of 127 women and 24 men to purchase drugs before and after chemotherapy.
We are proud to be associated with Stanbic Bank and are pleased to have this decade-long journey which has also seen the institution refurbish our Home for Cancer patients at Sally Mugabe Hospital – Tariro Hostel.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Donates US$20 000 To Cancer Association Of Zimbabwe

Stanbic Bank has been selected 2023 Bank of the Year in Zimbabwe by the world-renowned London-based magazine, The Banker.
The award for Stanbic Bank Zimbabwe also saw five other Standard Bank Group (SBG) country banks across Africa named as African leaders in the prestigious Banker magazine’s annual global awards held in London recently.
Stanbic Bank was named as the best bank in Zimbabwe and was one of those selected from a field of more than 400 global entrants to win honours in the prestigious awards. 
The other SBG operations that were named the best in their countries were: Standard Bank Angola; Standard Bank Lesotho; Standard Bank Namibia; Stanbic IBTC Nigeria; and Stanbic Bank Zambia. 
The Banker magazine is widely considered an “authoritative source of global financial analysis and data-driven intelligence.”
The Banker is renowned for having dedicated content pillars which share new banking trends as well as having expert editorial analysis, in-depth research and succinct summaries of key topics affecting the banking sector.
Stanbic Bank Chief Executive (CE), Solomon Nyanhongo, said The Banker noted that the institution weathered an increasingly challenging operating environment characterised by high inflation and shortage of foreign currency. Said Nyanhongo:
<blockquote>
The judges were impressed by the bank’s support for the all-important agricultural sector. With the foreign currency shortage set to threaten the viability of the tobacco selling season and with the support of its parent company, Standard Bank Group, Stanbic arranged offshore lines of credit worth USD385m which helped tobacco merchants fund the growing and purchasing of tobacco.
</blockquote>
He said the offshore lines of credit helped the farmers receive their sale proceeds in a timely fashion, ensuring that input costs were covered.
The tobacco-selling season commenced in March 2023 and before the auction floors had been opened, Stanbic Bank had pursued its strategic initiative of increasing its point of representation during the season for the convenience of tobacco farmers.
Nyanhongo said more than 33 000 new accounts were opened for farmers ahead of the season. Stanbic’s offshore lines of credit contributed to the improved quality and volumes of tobacco that were delivered at auction floors.
An aggregate of 296 million kgs of tobacco was produced in 2023 up from 212million that was delivered in the previous season. Said Nyanhongo:
<blockquote>
The award reflects not only the strength and depth of operations and skills but also the calibre of both our people and our clients in the jurisdictions in which we operate.
The award, therefore, is something that we can all be proud of, as we all played a part in securing it for Stanbic Bank.
</blockquote>
The award for Stanbic Bank comes hard on the heels of four other accolades won by the financial services institution last month.
Last month Stanbic Bank Zimbabwe scooped four prestigious awards – two at the Banks and Banking Survey sponsored by financial services institution, FCB and publishing company, Alpha Media Holdings, one at the Contact Centre Association of Zimbabwe (CCAZ) as well as one from ESG Network Zimbabwe.
The Standard Bank Group subsidiary won the Overall Best Performing Bank, Best Bank Customer Service, Winner in the Banking Sector – Service Excellence Awards and Outstanding Contribution to Health &amp; Education Support Award.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Named 2023 Bank Of The Year By The Banker

Stanbic Bank has launched an exporter’s guide to China which gives a roadmap of how Zimbabwean companies can navigate the Chinese business terrain by leveraging on the bank’s strategic partnerships in Africa and China.
The exporters’ guide was launched during the business conference which was part of the Stanbic China Day held last week as Stanbic Bank stepped up efforts to facilitate trade between China and Zimbabwe.
The launch was attended by business executives, executives from Stanbic Bank and its parent company, Standard Bank Group, Industrial and Commercial Bank of China (ICBC), Confederation of Zimbabwe Industries (CZI) and ZimTrade leadership among many other key industry and trade stakeholders.
Stanbic Bank Head of Trade and Africa China Banking, Tapuwa Nyika said the book is designed to showcase how Zimbabwean businesses can piggyback on the financial services institution’s local and global strategic partners for their entry into trading with China. Said Nyika:
<blockquote>
Stanbic Bank considers Africa as its “calling card” and to that end, the institution is committed to playing a pivotal role in championing Zimbabwe’s growth.
</blockquote>
He said Stanbic Bank through its parent company, Standard Bank Group which in turn, is partly owned by ICBC has cemented itself as a universal bank as evidenced by its presence in 20 country subsidiary banks, and 1113 branches in Africa. Said Nyika:
The Standard Bank group has representation in London, New York, Dubai, Isle of Man, Jersey and Beijing and has 160 years on the continent, and a presence in 20 countries and this augurs well for any entity looking to grow beyond its borders and particularly China.
The exporters’ guide demonstrates how Stanbic is geared to drive Zimbabwe and Africa’s agribusiness and become the leading Agribusiness bank in Zimbabwe and on the continent. Said Tawanda Maposah the Head of Agribusiness:
<blockquote>
We aspire to make a real difference in reducing food insecurity, solving for unemployment and helping grow the GDPs in the countries in which we operate.
We do this by supporting our Agribusiness clients’ ecosystems, through deep sector expertise and driving sustainable agriculture.
</blockquote>
Maposha outlined six growth drivers in the continent namely: Infrastructure; technology; trade FDI and processing; population growth and climate change.
On infrastructure, Maposah highlighted that an estimated 40% of the food produced in Africa is lost, noting that improved infrastructure can greatly reduce this loss, enhancing productivity. He said:
<blockquote>
Our partnership with the world’s biggest bank, the Industrial &amp; Commercial Bank of China (ICBC), has resulted in a powerful strategic collaboration that enables us to provide our customers with direct access to one of the world’s strongest economies. Not only has this partnership already grown trade and investment between Africa and China, but we also continue to work together on various initiatives to build and strengthen unique import and export propositions for increased business between Africa and China.
</blockquote>
Businesses are encouraged to proactively pursue China which is described as “the land of opportunity”.
Meanwhile, the two-day China Stanbic event was well supported with over 30 companies across the full spectrum of Zimbabwe’s industry, commerce and agri-business sectors participating.
Standard Bank Head of Business and Commercial Banking Southern and Central Africa Leina Gabaraane said trade was at the core of the financial services institution’s mission.
Gabaraane said China stands as a strategic corridor for Zimbabwe, and by extension, for the entire African continent. Said Gabaraane:
<blockquote>
The economic dynamism, technological prowess and global reach of China present a wealth of opportunities.
Standard Bank recognises this strategic positioning and has been dedicated to tapping into the immense potential this corridor offers.
</blockquote>
He said exporting to China should not just be an option but a critical pathway for the growth and prosperity of Zimbabwe.
Companies need to take advantage of how vast, diverse and continually evolving the Chinese market is.
Gabaraane said the Group has an unwavering commitment to pushing for Zimbabwe’s growth through exporting to China as this would empower Zimbabwean companies to reach new heights. Said Gabaraane:
<blockquote>
We take pride in being deliberate in our approach to facilitating imports and exports with China. Through our valued partnerships such as ICBC and the Zhejiang International Supply Chain Company, we have been able to create seamless trade corridors that empower business from both strides to thrive.
</blockquote>
Standard Bank believes in partnering for growth and fully understands that Africa is not just a place of business but a home and the institution is resolute in its commitment to drive her growth.
Gabaraane said Standard Bank’s ambition is not only to participate in Africa’s development but to lead the way, set the standard and pioneer innovative solutions that empower businesses and communities across the continent. He concluded:
<blockquote>
Together, we can unlock the potential of trade between Zimbabwe and China, and together we can shape a future of shared prosperity and sustainable growth.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Launches Electronic Exporters' Guide To Promote Chinese Trade

Stanbic Bank has donated two haemodialysis machines worth US$50 000 to Marondera Hospital, in Mashonaland East Province, easing the burden faced by renal patients within the province.
The handover ceremony, attended by hospital staff and representatives from Stanbic Bank Zimbabwe, emphasized the bank’s commitment to improving healthcare access across the country.
The machines are advanced medical equipment used for blood purification in patients with kidney problems and are set to make a lasting impact on the hospital’s ability to provide life-saving treatments.
The haemodialysis machines will not only improve the quality of life of patients but will see the number of patients receiving treatment increase significantly.
Stanbic Bank Chief Executive (CE), Solomon Nyanhongo said the financial services institution was pleased to play its part in relieving patients and their families from the logistical and financial strains associated with seeking treatment in far-flung areas.
He said the decision to donate Haemodialysis machines came about after a visit by the bank’s officials in September last year to assess the needs of the hospital. Said Nyanhongo:
<blockquote>
Our needs assessment coupled with the passion to serve patients shown by the Marondera Hospital team during the visit in September last year left a lasting impression on us. There was a consensus that we needed to contribute through life-changing equipment, and this saw us settle on buying the haemodialysis machines.
</blockquote>
He said the donation of the hemodialysis machines was born out of a commitment by the Standard Bank Group subsidiary’s quest to drive Zimbabwe and Africa’s growth through a combination of top-level banking offerings and comprehensive Corporate Social Investment (CSI) initiatives.
Nyanhongo said the CSI initiatives span education, the environment and health and sanitation with a particular focus on equipment for public health institutions. He said:
<blockquote>
We are not only committed to offering the best banking products and services but we are fully absorbed in contributing to the well-being of the societies in which we operate.
That commitment saw us launch Ruyamuro-Usizo through which we put our shoulder to the wheel towards supporting national efforts to improve health delivery in the country.
</blockquote>
He said through Ruyamuro-Usizo the Bank in 2021 resuscitated a maternity operating theatre at Sally Mugabe Hospital as well as refurbished the recovery room at a cost of US$67 000.00. Said Nyanhongo:
<blockquote>
In 2021, the first recipient of a Haemodialysis machine worth US15 000 was Gwanda Hospital, in Matabeleland South, as the bank saw it fit to alleviate the plight of patients who faced kidney failure.
Just last year we handed over a Solar Powered Borehole to Mt St Mary’s Hospital in Hwedza as we continue to support the growth and sustainable development of public health services in Zimbabwe through Ruyamuro-Usizo.
</blockquote>
Mashonaland East Acting Provincial Medical Director Dr Michelle Gadzayi applauded Stanbic Bank for its gesture saying it would improve the quality of life for renal patients in the province.
Dr Gadzayi said the Hospital had two functional renal machines and the addition of two more would enable them to attend to more patients from every corner of the province and beyond.
She said currently the hospital attends to 14 patients per week with each patient receiving treatment twice a week and 10 more patients can now be added to the roster. Said Dr Gadzayi:
<blockquote>
We attend to six patients per day but now the number is going to increase to 10 per day.
</blockquote>
Marondera Hospital has been in operation since 1939, catering for nine districts such as Uzumba Maramba Pfungwe (UMP), Nyamapanda, and Chivhu and has a bed capacity of 300 beds.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Donates Two Haemodialysis Machines To Marondera Hospital

Stanbic Bank has facilitated a mutually beneficial and cooperative relationship between two top Zimbabwean and Chinese universities as the leading financial services institution lives up to its commitment to drive Zimbabwe and Africa’s growth.
The Standard Bank subsidiary played a pivotal role in orchestrating the introductions between the two universities which culminated in the signing of a Memorandum of Understanding (MoU). 
The five-year tenure MoU between the University of Zimbabwe Faculty of Medicine and Health Services (UZ-FMHS) and leading Chinese University, Zhenjiang University- International School of Medicine (ZJU-ISM) is aimed at fostering scholarly activities and international collaboration.
The non-binding MoU is set to establish a framework through which the two educational institutions can establish and develop a cooperative relationship in pursuit of a number of objectives which include mobility of faculty and/or staff; mobility of graduate and/or undergraduate students and joint research activities and publications.
The objectives also include participating in seminars and academic meetings; exchange academic materials and other information and establishing short-term academic programs.
Speaking at the signing of the MoU, Stanbic Bank Head Business and Commercial Banking, Patson Mahatchi said the leading financial institution was pleased to continue contributing significantly towards driving Africa and in particular Zimbabwe’s growth across all sectors.
Mahatchi said the partnership between UZ and ZJU-ISM was beneficial especially regarding capacity building and would contribute significantly towards achieving Education 5.0 goals for the UZ. He said:
One of our strengths as a financial services institution is our dedicated offering to the education sector, on the back of unparalleled experience in banking solutions in general. 
The UZ-FMHS is an integral link to both the education and health sectors as it is a leading medical training institution in the country. 
Additionally, the role of academia in the health sector cannot be downplayed as the medical fraternity is underpinned by continuous research.
ZJU-ISM is rated 42 on the QS world rankings and is in China’s top three. They operate 37 colleges across seven campuses. 
They also operate a Class A-rated hospital with a 1 200-bed capacity and perform approximately 30 000 surgeries annually. 
The partnership with UZ will result in capacity building for UZ-FMHS strategic projects such as the construction of a state-of-the-art medical specialists centre and quinary hospital. 
This is in line with international best practices whereby medical training universities also operate hospitals with the aim of increasing teaching and research opportunities for the students whilst improving access to and lowering medical costs for the communities in which they operate. Guomao Director for Africa, Chaofeng Deng said:
<blockquote>
Our quest to foster mutually beneficial relationships with Africa is premised on our commitment to ensure that the continent is the future and we want to grow with it.
</blockquote>
ZJU-ISM Director for International Affairs Xing Chen said the MoU would see the leading Chinese educational institution offering medicine and healthcare systematic solutions. Said Xing:
<blockquote>
We are committed to pursuing excellence in clinical research and care and particularly contribute in building Africa’s own capacity. 
</blockquote>
Guomao is a Chinese supply chain management company and Stanbic’s partner for the Africa-China Trade Solution. The entity also played a key role in the matchmaking of the two universities.
She said ZJU-ISM, which opened its doors in 2014 but was built on Zhejiang University’s 100-year history, has aimed high since its inception.
ZJU-ISM’s medicine is listed as a national First-Class discipline a situation which augurs well for the successful implementation and execution of the objectives of the MoU.
University of Zimbabwe Dean of the Faculty of Medicine and Health Services (FMHS), Dr Fiona Makoni said the MoU gives both institutions opportunities for knowledge exchange through student and staff exchange, research collaborations, and tapping from the experience of the colleagues from Zhejiang in setting up and operating hospitals that service medical schools. 
Dr Makoni said this is in line with the UZ strategic objective 3, which seeks to develop partnerships to leverage knowledge-sharing, resource mobilisation and investments for advancement of innovative research, outreach, teaching and business development.
She paid tribute to Stanbic Bank for approaching the faculty through the faculty research management centre to introduce Zhejiang University. 
The introduction of Zhejiang University to the UZFMHS culminated in the opening of communication between the two educational institutions through online meetings leading to the visit by the delegation from Zhejiang that culminated in the signing of the MoU. Said Makoni:
<blockquote>
We are grateful to Stanbic for introducing us and being involved in ensuring that the visit takes place and being present in the meetings to demonstrate their support. 
We look forward to the bank’s support during the tenure of this MoU as we meet our strategic objectives of partnerships as well as internationalisation of our programmes.
</blockquote>
She said the MoU is a great opportunity to demonstrate the implementation of public/private partnerships as the University of Zimbabwe, through the Faculty of Medicine and Health Sciences, responds to the needs of the Zimbabwean population in the training of health professionals.
Dr Makoni said the MoU will be instrumental in facilitating research collaborations and post-graduate medical training as well as opportunities for electives for students. Said Makoni:
 The faculty has a wealth of research experience in wide areas of health including HIV, Cancers and other non-communicable diseases and this will be useful in the collaborations.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Facilitates MoU Between Two Zimbabwean and Chinese Universities

Stanbic Bank Zimbabwe has facilitated life-changing surgical operations for 15 children living with correctible disabilities through a US$22 500 grant as part of its commitment to offer affordable quality health care to Zimbabweans.
The grant was given to Cure Children’s Hospital of Zimbabwe (CCHOZ), which is the only healthcare organisation that offers free paediatric surgical interventions for children between the ages of 0-18 with treatable disabilities.
CURE Zimbabwe is a Christian non-profit making organisation that opened its doors in 2021 and, so far, has been a place of hope and healing for over 1700 children living with treatable disabilities.
It operates a global network of children’s hospitals pairing world-class surgical and spiritual care to serve children with treatable disabilities and their families regardless of their economic status, ethnicity, religious background, or gender.
CURE Zimbabwe engages partners such as Stanbic Bank to fund surgical operations for treatable disabilities such as bowed legs, knock knees, clubfoot, brittle bones, windswept, neglected trauma, and burn contractures.
The 15 children who underwent the surgeries last week include boys and girls who had lost all hope of ever healing or recovering from their conditions.
One of the children had been wheelchair-bound since birth and suffering from crouch gait – an abnormal walking condition characterised by the upward bending of the ankles (ankle dorsiflexion); bent knees (knee flexion), and bent hips (hip flexion) – is now on his way to full recovery and walking properly after Stanbic bank’s intervention.
Stanbic Bank Chief Executive (CE), Solomon Nyanhongo, speaking at the official signing ceremony, said the financial services institution derived deep satisfaction from changing the fortunes of the 15 children whose lives would normally have been problematic due to the nurture of their disabilities.
Speaking shortly after visiting the 15 children who were recovering at CURE Zimbabwe Hospital wards, Nyanhongo said the surgical and spiritual care offered by CURE Zimbabwe resonated with Stanbic Bank’s quest to not only drive Africa and, in particular, Zimbabwe’s growth but make a difference within the communities in which it operates. He said:
<blockquote>
Our tour of the wards has been an eye-opener for the Stanbic Bank staff. This life-changing and transformational work CURE Zimbabwe is doing is astonishing.
To see someone come in literally unable to do anything and leave full of life and hope through surgical operations gives us satisfaction that we are indeed contributing to the welfare of the members of the community in which we operate.
</blockquote>
He said such transformation for the beneficiaries was a source of inspiration for the Standard Bank Group subsidiary, whose well-thought-out Corporate Social Investment (CSI) initiatives included propping up health care delivery, provision of education, water, sanitation, and looking after the environment.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Helps 15 Children With Disabilities Undergo Life-changing Surgery

Nyarutombo Primary School in Mt Darwin, Mbire District, Mashonaland Central Province, has now been designated a Zimbabwe Schools Examination Centre (ZIMSEC) thanks to the construction of a classroom block, toilets and a borehole by Stanbic Bank Zimbabwe.
The construction of the block with two classrooms changed the face of the educational institution which was previously avoided by parents from nearby areas who opted to have their children walk long distances to attend examination registered schools.
Nyarutombo Primary School, some 230 km north-west of Harare, is a Methodist Church of Zimbabwe (MCZ) institution and has seen its fortunes change following the facelift by Stanbic Bank.
Run under the auspices of the MCZ’s Methodist Development and Relief Agency (MeDRA) the school now has a solarized borehole and a 10 000-litre tank ensuring the pupils have clean water all year round.
MeDRA acting National Director Tariro Washaya said the facelift by Stanbic Bank raised the profile of the school and has driven growth in the institution’s pass rate over the last two years.
The classroom block and toilets were constructed in 2019 and began functioning in December 2020. Stanbic Bank also managed to furnish the classrooms with desks and chairs.
Washaya said the fruits of Stanbic Bank’s work started manifesting in the first quarter of 2021 when the institution was inundated with applications for enrolment while the process for the school to be a recognized as a ZIMSEC centre took effect. Said Washaya:
<blockquote>
The story of Nyarutombo Primary School is a typical rags-to-riches story in many ways and the transformation of this school is all thanks to Stanbic Bank.
The school had a low enrollment because there were no classrooms. It was a satellite school whose pass rate was very low.
I am proud to say that the pass rate has since improved significantly and the school is now an exam centre.
</blockquote>
She said the biggest beneficiaries of the facelift by Stanbic Bank were grade 7 pupils who previously had to travel long distances during examinations, oftentimes sleeping at the schools which were registered for ZIMSEC during the examination days. Added Washaya:
From the school’s inception in 2011, till Stanbic Bank intervened, the institution has been well below the radar of any key stakeholder in the community, but its profile has just shot up and we understand some reputable headmasters now want to preside over the running of the school.
Stanbic Bank Acting Head Brand and Marketing, Tariro Memo said the leading financial services institution was pleased to have played its part in uplifting the lives and fortunes of the pupils, the community and its environs. She said:
<blockquote>
Stanbic Bank has well thought out Corporate Social Investment (CSI) initiatives whose key attribute is premised on changing the lives of its beneficiaries in a sustainable way.
Education is one of the pillars under this initiative and the plight of the students moved Stanbic Bank to construct the classroom block, toilets, provide furniture, borehole and water tank.
</blockquote>
She said that it was heartening to note that the pass rate for the school had improved.
The relationship between Stanbic Bank and Nyarutombo began when the financial services institution went to donate mosquito repellent material in 2018.
The visit was an eye-opener as it exposed the bank’s executives to the state of the school.
The pupils attended classes in run-down grass-thatched classrooms and had no safe ablution facilities.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Rural School Upgraded To ZIMSEC Exams Centre After Facelift By Stanbic Bank

Stanbic Bank donated 1 600 reusable sanitary pads and 800 undergarments to 400 girls at Nyava Secondary School in Mashambanhaka, Shamva District over the weekend.
Each of the 400 girls got a packet consisting of four reusable sanitary pads and two undergarments as Stanbic Bank consolidated its longstanding partnership with Talia Women’s Network in its quest to look after the needs of the girl child.
The 400 girls, from forms one to Upper Six, not only received reusable sanitary pads and undergarments but were also given invaluable information on how to look after the pads as well as hygiene issues from representatives of Talia Women’s Network.
Stanbic Bank Acting Head of Brand and Marketing, Tariro Memo said menstruation and access to sanitary pads was one of the biggest challenges faced by girls particularly in the rural areas and those who were financially disadvantaged.
To that end, Stanbic Bank made a deliberate decision to play its part in alleviating the plight of the underprivileged girl child in not only accessing sanitary pads but in their educational welfare as well. Said Memo:
<blockquote>
Stanbic Bank has comprehensive Corporate Social Investment (CSI) initiatives some of which are carefully designed to cater for the needs of the girl child through educational scholarships and, as in today’s case, support for menstrual health challenges.
</blockquote>
She said Stanbic’s support stemmed from the knowledge that young girls often missed school during their menstrual cycle due to lack of access to sanitary wear hence the institution moved in to ensure that the beneficiaries attended school all year round.
Memo noted that even when some girls braved the lack of pads and used alternatives, they still had considerable difficulty in going about their lives due to both practical reasons and the stigma frequently attached.
Last year Stanbic Bank donated 775 sanitary pads to girls from primary and secondary schools around the country while in 2018 the institution’s female employees voluntarily raised 900 disposable pads for the girl child in commemoration of International Women’s Day.
Stanbic Bank complimented the gesture by the women and added 2500 reusable sanitary pads.
Talia Women’s Network Director, Saliwe Zakariya said it is important to take note of the fact that menstruation affects everyone including boys and men.
Zakariya said to that end boys and men need to be acquainted with challenges the girl child and women at large face during their periods to support them.
Zakariya took the girls through a question-and-answer session shedding light on the transition into puberty and signs to be aware of when one is about to start their periods. She said:
<blockquote>
The most important aspect of menstruation is attention to detail regarding hygiene. It is important to bath twice a day especially when one is on their period.
</blockquote>

Stanbic Bank Donates Reusable Sanitary Pads To 400 Schoolgirls In Shamva

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:
<blockquote>
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. 
</blockquote>
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:
<blockquote>
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.
</blockquote>
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.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Calls For Unity Of Purpose In Mining

Stanbic Bank has facilitated US$400 000 worth of imported products for its clients through its African China Import Solution facility.
The financial services institution launched the Africa-China Trade Solutions (ACTS) facility for its clients towards the end of 2021 and to date US$400 000 orders have been made while several others are under discussion.
The first batch of orders is expected to be received towards the end of this month.
Stanbic Bank Head Trade and Africa China Banking, Tapuwa Nyika said the facility has helped importers save between 20 % – 40 % when compared to their traditional suppliers both within Zimbabwe and internationally. Said Nyika:
<blockquote>
These cost savings have made Stanbic clients more competitive in the respective industries that they compete in.
Through the solution, we have facilitated the importation of machinery, raw materials, and packaging materials.
These goods are for the construction, medical, mining and manufacturing sectors.
</blockquote>
He said the Standard Bank Group of South Africa subsidiary launched the facility to build a trusted trading bridge and help individuals and businesses steer through the diversity of suppliers in China.
Through the facility, Stanbic Bank’s clients are guaranteed tailor-made solutions which meet their requirements and production flow and they are linked directly with Original Equipment manufacturers in China. Said Nyika:
<blockquote>
As Stanbic Bank, we understand that importing from China has unique challenges and risks for Zimbabwean businesses and as such the China import solution is designed to support businesses at every stage of the import journey…Stanbic Bank’s Africa-China Trade Solutions (ACTS) offers customers assistance with cross-border trade requirements from start to finish.
</blockquote>
This service is being offered free of charge by Stanbic Bank Zimbabwe as the institution seeks to support its clients’ access to quality products from China. The clients are, however, charged between 3-5% commission by the agent in China depending on the product and value of the products.
Nyika said Stanbic Bank’s thrust in 2022 is to partner with its clients for growth and the institution identified a need for its clients through the import solution and aims to make importing from China seamless. He said:
<blockquote>
The service not only allows for seamless trade but also provides the best prices for quality products.
As a bank, we believe that this offering will be of immense value to the clients that we serve and allow them to compete effectively in their chosen areas of operation.
</blockquote>
He said the Africa China Import Solution has succeeded in boosting import quality for Stanbic Bank importing clients through guaranteed quality assurance, testing and certification.

Stanbic Makes Inroads With Its China Import Solution Service

Leading financial services institution, Stanbic Bank, has adopted a growth strategy for the mining sector as it seeks to play a pivotal role in boosting the sector in line with Government targets.
Stanbic Bank CEO, Solomon Nyanhongo told the Chamber of Mines dinner attendees that the institution was committed to finding lasting solutions toward consolidating growth drivers for the mining industry.
Nyanhongo said Stanbic’s core purpose was to champion Africa and in particular, Zimbabwe’s growth across key sectors including mining. Said Nyanhongo:
<blockquote>
Our institution has adopted a growth strategy for the sector cognizant of the fact that mining alone provides over 70% foreign currency receipts for the country.
The strategy is premised on the realization that we need foreign currency for our economy to assist the nation to achieve its goal of a medium-income earning economy,” said Nyanhongo.
</blockquote>
He said given that the mining sector is targeting US$12 billion in annual revenue by 2023, Stanbic Bank is geared to provide solutions to assist its clients to attain this.
Stanbic Bank already has a significant role to play in the market and contributed over US$20 million in 2021 alone. He said:
<blockquote>
Stanbic Bank is well placed to play a key role in achieving the aforementioned targets on the back of the strength obtained from its parent company, Standard Bank Group.
Standard Bank Group recently participated in the just-ended Mining Indaba in South Africa and as Stanbic Bank, we piggyback on its expertise to contribute meaningfully toward national development.
</blockquote>
Nyanhongo added that Stanbic Bank’s capabilities add value to the mining sector supported by knowledge, experience and insights – industry experts.
The institution has mining specialists at Group level and locally as well who help continuously monitor clients’ business activities to proffer solutions relevant to them.
He noted that mining is subject to global markets volatilities, and it is imperative to rely on experts with their finger on the pulse, taking a long-term view, while consistently monitoring trends in international commodity prices. He said:
<blockquote>
Over the 30 years that Stanbic Bank has operated in Zimbabwe, we have supported corporate entities and related ecosystem partners feeding into the sector.
Some of the ways we have provided support is through expert advice to clients and also sponsorship of calendar events such as these, that bring together thought leaders in the industry.
</blockquote>
Nyanhongo said as much as Stanbic supports the mining sector, there are challenges which need the input of all stakeholders to overcome.
The challenges in the operating environment call for continued engagement to come up with acceptable mitigants as key stakeholders structure solutions and in consultation with authorities, where necessary. Said Nyanhongo:
<blockquote>
Despite these challenges, we see a positive outlook for the mining sector hence our significant investment.
Mining is a key sector of the economy significantly contributing through forex, employment and other add-ons.
Africa and indeed Zimbabwe is our home and as Stanbic Bank, we are here to drive her growth and will continue to play our part in achieving national targets.
</blockquote>
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Stanbic Bank Committed To Boosting Mining Prospects

Stanbic Bank Zimbabwe’s exclusive annual Wine, Gin &amp; Craft Beer Festival resumes this week after a two-year break caused by the COVID 19 pandemic.
The annual Wine Tasting festival, which is sponsored by Stanbic Bank and its partners, kicked off in 2018 and was scheduled to enter its third year in 2020 before being postponed owing to the restriction of gatherings caused by the menacing COVID 19.
Exhibitors at the Wine Festival, which kicks off tomorrow (Friday) and ends on Saturday, are drawn from South Africa.
The restriction on movement then made it impossible for them to come and display their products leading to its postponement over the last two years.
Stanbic Bank’s Head of Brand and Marketing, Palmer Mugavha expressed delight at hosting the event after the two-year break.
“The Festival was a permanent fixture on our calendar pre-COVID and being the biggest event of its kind in the country, it was a blow not having it over the last two years, but we understood perfectly that the COVID protocols needed to be observed. We are now all set to host the Festival of all festivals as we make up for lost time,” said Mugavha.
Mugavha said Stanbic was determined to make up for lost time by hosting a memorable Festival which should thrill wine and beer enthusiasts who had hitherto been starved of such top-line events.
This year hundreds of budding connoisseurs will come together over two days to sample the different wines, Gin and Craft Beer predominantly from Cape Town and Southern Africa.
He said the Wine Festival provided an opportunity for Stanbic Bank to entertain some of its customers and the general public who appreciate great wines through this unique event.
“We are well aware that due to the restrictions on travelling and gatherings our stakeholders have not yet had much fun in the last two years, so we are putting all stops to make sure this weekend’s event makes up for the two lost years as we seek to demonstrate our appreciation of our clients,” he said.
Wineries from Cape Town, and Gin and Craft Beer producers from the region grace the event displaying their wide range of products. 
In 2019, wine and beer enthusiasts were treated to top-shelf handcrafted beers and wines produced by some of Southern Africa’s best vintners and sommeliers at the event’s usual Queen of Hearts venue.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Stanbic's Exclusive Wine Tasting Festival Resumes After Two-year COVID-19 Induced Break

Stanbic Bank Zimbabwe was part of a stellar team of stakeholders led by the Rotary Club of Harare City, who chipped in with assistance in cash or kind during the construction of the Shavanhowe footbridge in Murehwa about 90 km northeast of Harare.
The leading financial services institution contributed US$35 000 towards purchasing steel products for the construction of the bridge as stakeholders sought to curb the persistent deaths of children and adults intending to cross the river to go to school.
The life-saving footbridge was officially handed over to the community over the weekend.
Stanbic Head of Brand and Marketing, Palmer Mugavha said the donation was part of the leading financial services institution’s assistance to the community in which it operates.
Mugavha said Stanbic Bank did not hesitate to put its shoulder on the wheel in response to the plea by Rotary Club of Harare to help build the bridge.
In its plea, Rotary Club of Harare had indicated that over one thousand school children risked their lives crossing the river to attend school and Stanbic saw it fit to chip in with the financial support. Said Mugavha:
<blockquote>
Ladies and gentlemen, Stanbic Bank attaches great importance to ensuring that children and students especially from socially challenged backgrounds receive adequate education for them to sustain their lives in the future hence the quick response to assist.
We did not hesitate to come on board as soon as we learnt that the construction of the bridge would go a long way in providing safe access to school for children from nearby communities.
</blockquote>
He said the donation is in keeping with the Standard Bank Group’s subsidiary to support children, education and communities through a comprehensive Corporate Social Investment (CSI) strategy.
Over 1300 children from Chemhondoro School, which is on the Western Side of the Shavanhowe River in Murehwa District face difficulties going to school due to flooding of the river during the rainy season.
Mugavha said Stanbic Bank was also concerned that not only children were at risk while crossing the flooded river but families who lived on the west bank who use makeshift ropes to cross the river. Said Mugavha:
<blockquote>
We were spurred to help in the construction of the bridge by the worrying statistics that at least 14 students and five adults were reported to have drowned in this river in 2018 as they attempted to get to Chemhondoro School.
This moved us to not only save lives but also ensure that the children pursued their dreams through education.
</blockquote>
He thanked Rotary Club of Harare for taking the lead in facilitating the construction of the bridge for this community.
The coordinators of the project, Rotary Club of Harare, roped in other stakeholders such as Rotary Club of Du Pont Circle W.A. USA, NJR Steel RSA, Key Logistics, Gwaze Quantity Surveyor, National Arts Gallery, Zimplats Mining, Ascon Africa, Masimba Holdings, Steve Margolis Resort, Arundel Village Shopping Centre, Delta Resources Scaffolding and Mangwende Community.
Flooded rivers in remote areas present a hazard to human beings who walk on foot to access different parts of the rural districts in order to attain essential services such as medical assistance and education amongst others.
Mugavha said Stanbic Bank had also constructed the US$100 000 Mothers’ Waiting Home at Nyamuzuwe Hospital in Mutoko, also in Mashonaland East.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Stanbic Chips In For Life-saving Bridge Construction

Stanbic Bank’s parent company, Standard Bank Group, has emerged as Best Bank in Africa in Global Finance’s 29th World’s Best Banks 2022 Awards for the second consecutive year thanks to its evolving platform business strategy
The bank was also named the best bank in Malawi and South Africa. Chief Executive of Standard Bank Group, Sim Tshabalala, said:
<blockquote>
Receiving the highest recognition on the continent from an authoritative institution such as Global Finance is a great honour and an affirmation of the hard work that each of our colleagues across the continent contributes daily.
</blockquote>
Standard Bank was recognised for its strong business performance, driven by underlying economic recovery in its countries of operation, as well innovation in its client positioning and key transactions driving its expanding platform strategy.
In 2021, the Group outlined its 2025 Ambition of being a platform business through a new operating structure, including plans to ‘transform client experience’.
By building out from a solid foundation in traditional financial services, the Group seeks to meet its clients on the digital platforms where they are shopping, socialising and doing business.
Global Finance winning selections were made by the publication’s editors in consultation with corporate financial executives, bankers and banking consultants and analysts.
In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective. Added Tshabalala:
<blockquote>
We are aiming to build 10 ‘ecosystems’ adjacent to traditional financial services where we can add more value to our client’s personal and business lives – for example, by providing home services, connecting small traders to suppliers, by linking suppliers and consumers of renewable energy, and by helping Arica’s exporters to access international markets.
As we continue to build these capabilities, we will stay close to the evolving needs of our clients across Africa to ensure that we deliver relevant and impactful solutions that drive inclusive and sustainable growth.
</blockquote>
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Standard Bank Named Best Bank In Africa

Stanbic Bank’s parent company, Standard Bank Group, has emerged as the most valuable banking brand on the African continent for 2022 in Brand Finance’s annual ranking of the world’s Top 500 Banking Brands, after increasing its brand value by 26% to USD1.583 billion.
This significant increase in brand value has seen Africa’s largest financial services organisation by assets jump 17 places to rank 145th globally.
For a third consecutive year, Standard Bank has also increased its reputation score above the South African banking sector average, according to Brand Finance’s Global Brand Equity Monitor.
Every year, Brand Finance puts 5 000 of the biggest brands to the test and publishes nearly 100 reports, ranking brands across different sectors and countries.
The world’s top 500 most valuable and strongest banking brands are included in the annual Brand Finance Banking 500 ranking. Sim Tshabalala, Standard Bank Group Chief Executive, says:
<blockquote>
We’re delighted by our brand’s performance as it spotlights the hard work undertaken over the past few years to radically overhaul our business model and transform experiences for clients.
The Group has invested heavily in disruptive technologies to provide our clients with banking, asset management and insurance solutions to enable them to achieve their unique goals and ambitions.
</blockquote>
In 2019, Standard Bank began a journey that fundamentally redefined its business. As it undertook a future-ready transformation and the expansion into a platform business, it also introduced a comprehensive brand repositioning, the first in 10 years, culminating in the launch of the ‘It Can Be’ brand promise in 2020. Thulani Sibeko, Standard Bank’s Chief Brand and Marketing Officer, says:
<blockquote>
Our brand positioning aligns with our organisation’s ambition to transform client experiences based on researched client insights.
Our people are inspired and committed to providing solutions and experiences that matter and create value for our clients.
</blockquote>
Recently, Standard Bank reached the 10 million customer mark in South Africa, which Sibeko says has been driven in part by gaining momentum within the mass market. Said Sibeko:
<blockquote>
The introduction of our value banking solution MyMo, for example, has enabled more people to access our brand for the first time.
</blockquote>
He adds that the increase in customer acquisition can also be attributed to the continuous introduction of new and innovative solutions to make the lives of clients easier.
An example is FlexiFuneral, which allows customers to choose their level of benefits and amount of cover. Also recently introduced is Unayo, a digital payments platform that connects the higher and lower ends of the value chain, thereby stimulating economic activity across Africa. Sibeko said:
<blockquote>
We are enormously proud of our treasure chest of innovations and achievements, all of which impact individuals, businesses, or communities.
</blockquote>
The trust that consumers have in the Standard Bank brand continues to serve it well, believes Sibeko. He adds:
<blockquote>
Our clients think of us as a safe bank, and we take the role of financial custodianship extremely seriously, in the systems and processes we implement to safeguard our clients from increasingly sophisticated fraudulent threats.”
We are both proud and honoured to be awarded the title of Africa’s most valuable bank brand. The most successful brands are often the most relevant, and remaining relevant means constantly evolving, and changing with developing client requirements.
This year, Standard Bank will be celebrating its 160th year of enabling individuals and businesses to achieve their ambitions – a testament to our innovation, resilience, commitment and adaptability.
</blockquote>
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Standard Bank Ranked As Africa’s Most Valuable Banking Brand

Stanbic Bank is committed to playing its part in assisting Zimbabweans in the diaspora to build and own houses back home through its mortgage finance facility tailor-made for people living abroad.
The facility called “Diaspora Home Loans” is part of a wider mortgage finance plan by the leading financial services institution whose goal is to ensure that Zimbabweans at home and abroad enjoy the basic human right of having a roof over their heads.
Stanbic Bank Zimbabwe Head of Client Solutions, Tich Zuze said the leading financial services institution is committed to contributing towards ensuring that Zimbabweans in the diaspora build or purchase a house back home through its Diaspora Home Loans facility.
“We have established a well thought out Diaspora Home Loans facility through which Zimbabweans living abroad can acquire completed houses, construct new properties, undertake property improvements and equity release,” said Zuze.
He said the Diaspora Home Loans package has flexible terms and conditions and is backed up by Stanbic’s Home Loans desk which is available to attend to them in need.
“Stanbic is aware that a house is one of the most important investments anyone can make and the Diaspora Home Loans facility plays a pivotal role in ensuring Zimbabweans in the diaspora enjoy a sense of belonging and achievement in the knowledge that they have a house back home,” said Zuze.
For one to be eligible for the Diaspora Home Loans facility they need to provide the usual Know Your Clients (KYC) documents together with proof that one has a secure job in the diaspora such as a stamped letter of introduction from employer- confirming salary, retirement age, and contract of employment which should be long enough to cover loan term and certified 6 months bank statements through which salary is paid.
The applicant of the diaspora home loan would also need to provide a local address to which Stanbic Bank will serve documents and or notices and service of process when need arise.
Other documents include a completed Home Loan application form and having a minimum of 24 months duration of employment with the same employer while proof of extra income is an advantage. 
The comprehensive list of the requirements are accessible via the bank’s website and one can visit any Stanbic branch to get further assistance.
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Stanbic Bank Targets Diasporans To Build Houses Back Home

Stanbic Bank has transcended the macroeconomic challenges bedevilling the country to post an inflation-adjusted profit after tax of ZWL 1.2 billion for the half-year to June 2021.
The Standard Bank Group subsidiary has sustained its impressive performance which has defied the prevailing economic conditions having rebounded from a loss position in the half-year in 2019 to a profit position in 2020 in the comparable period.
One year down the line, the top-ranking financial services provider has consolidated that steady performance although the ZWL 1.2 billion was slightly below the ZWL1.3 billion inflation-adjusted profit achieved in the prior comparable period last year.
In a statement accompanying the results, Stanbic’s Chairman, Gregory Sebborn, attributed the slight drop in profit to the depressed performance of the trading revenue line owing to subdued trading activity during the interim period.
Sebborn said the foreign currency shortages in the market combined with periods of lockdown also contributed to the marginal reduction in profit for the Standard Bank Group subsidiary.
“In addition, operating expenses increased in comparison to the prior year driven by the expenditure of ZWL 430 million in the staff optimization exercise,” said Sebborn.
Stanbic Bank ended the six months period to June 2021 with a qualifying core capital of ZWL5.7 billion, outpacing the local currency equivalent of the required US$30 million regulatory minimum core capital to be achieved by Tier 1 banks by 31 December 2021.
Stanbic’s stellar performance comes at a time when the economy is still stifled by a number of challenges, chief among them being the resurgence in COVID 19 cases, high inflation, foreign currency shortages, and low disposable incomes and unstable energy supply.
“The policy environment and fiscal space are likely to remain constrained to contain these challenges in the short to medium-term outlook,” said Sebborn.
Giving a business performance overview for the six months to June 2021, Stanbic Chief Executive (CE), Solomon Nyanhongo, said the institution recorded a 218% growth in its net interest income, closing the period at ZWL 2.6 billion and surpassing the income of ZWL 803 million for the prior period.
“The uplift in interest income was largely buttressed by the strong growth in interest-earning assets during the period as new lending assets were written.
“Fee and commission income for the period had grown by 167% from ZWL 1 billion in 2020 to ZWL 2.7 billion, largely spurred by the improved volumes of transactions which were being processed on our service channels after the two month lockdown period (January and February 2021) as most businesses were operational again,” said Nyanhongo.
The Bank’s credit impairments ended in a net release of ZWL 105 million, improving from a prior period charge of ZWL797 million, largely reinforced by better recoveries on foreign currency denominated financial assets.
Nyanhongo said Stanbic embarked on a staff optimization exercise during the first half of the year which led to the increase in its total operating expenses from ZWL 2.7 billion in the comparative period to ZWL 3.2 billion.
“This was on the back of progress in the Bank’s digitization strategy which saw an expansion in the digital solutions available for our transacting customers,” said Nyanhongo.
He said the demand for local currency funding continued on an upward trend during the period as working capital requirements swelled.
This saw the bank’s net lending book increasing in real terms from ZWL10.7 billion as at the end of December 2020 to ZWL12.2 billion as at the end of June 2021.
The year started on a distressing note as the second wave of the deadly COVID 19 pandemic led to a spike in the number of infections which led to the reinstatement of national lockdown periods for the first two months of the year.
Nyanhongo said the level of business was adversely affected as the country grappled to contain the spread of the disease the severity of which led to a third wave which in turn led to tighter lockdown conditions being introduced.
Sebborn said that despite the various challenges, there were notable developments in the period under review such as improved economic performance, an improvement in capacity utilisation from 36.4% to 47% in 2020, the slowing down of the inflation rate from 837% in July to 106% by June 2021, an improvement in the international commodity prices of the country’s major exports and improved diaspora remittances.
The International Monetary Fund (IMF) and World Bank reviewed the Gross Domestic Product (GDP) growth forecast for Zimbabwe to 6% and 3.9% respectively.
The Bretton Woods institutions, however, warned that the sustainability of the growth forecast is dependent on addressing other key operational challenges being faced by the productive sector.
According to the CZI Manufacturing Sector Report capacity utilisation is expected to further improve to 61% in 2021, albeit with a warning that the improvement is heavily dependent on foreign exchange supply, particularly after the tobacco selling season, and policy inconsistencies.
Sebborn said that notwithstanding the slowdown in inflation from 837% to 106%, the current levels hamper economic planning and growth, and policies are required to improve productivity and foster price stability.
“Major inflation drivers include high money supply growth, rapid depreciation of the local currency (“ZWL”) especially on the alternative foreign currency markets and policy volatility which have eroded confidence in the ZWL,” said Sebborn.
Nyanhongo said Stanbic Bank continued with its Corporate Social Investment (CSI) programmes even in the challenging operating environment exacerbated by the prevalence of the menacing COVID-19 pandemic and lockdowns.
Stanbic Bank donated state of the art operating theatre equipment to Sally Mugabe Hospital Maternity Wing valued at US$65 000 in addition to refurbishing the theatre area.
He paid special tribute to all the Stanbic members of staff for their continued hard work, diligence, commitment, resilience and relentless application and effort which have culminated in the achievement of the commendable results in the midst of increasing headwinds intensified by the resurgence of the pandemic in this half-year.
<h4>More: <a href="https://news.pindula.co.zw/">Pindula News</a></h4>

Stanbic Maintains Steady Performance In H1

Stanbic Bank’s parent company, Standard Bank Group has provided R10.9 billion in relief to personal and SME clients across Africa in recognition of the challenges faced by SMEs as well as help them get through this difficult period.
Standard Bank Group recognises that Small &amp; medium enterprises (SMEs) are the engine of economic growth in Africa, particularly when small businesses develop their potential to expand and contribute to job creation.
According to the World Bank, formal SMEs contribute up to 40% of GDP in emerging economies, and this number is much higher when including informal businesses.
The Brookings Institute expects that consumer spending in Africa will reach $6.66 trillion in 2030, up from $4 trillion in 2015, and a large portion of this will be driven by small businesses.
During the COVID-19 pandemic, SMEs have been hit hard by economic lockdowns, curfews and cash-strapped consumers.
The crisis also highlighted the importance of small businesses in our communities as many quickly adapted to serve evolved customer needs.
“During the pandemic, it was essential that SMEs and entrepreneurs continued to receive business development support and training, and leads to markets through our business incubators in Botswana, Mozambique, Zambia, Uganda and Zimbabwe,” says Leon Barnard, Head: Business &amp; Commercial Enablement at Standard Bank Group.
He adds that Standard Bank’s incubators were also able to support SMEs with trade innovations by guiding them on import and export requirements and regulations.
Growing entrepreneurship in Africa should be a priority for corporates and governments as the continent responds to and recovers from the economic fallout of the pandemic. 
Entrepreneurs will need access to the practical tools, knowledge, advice, skills, and connections to markets that are essential for their growth.
“There are five strategic pillars that need to be considered for enterprise development support across Africa, if we can empower small business owners across all these pillars they will be on the road to success”, says Barnard.
With a focused effort on these five strategic pillars, small businesses can position themselves for growth:
<ol>
<li>Platform to nurture businesses ideas for growth and empowerment. In Botswana, ACCELERATE serves as a dynamic platform for entrepreneurs to develop innovation, business development, thought leadership and networking opportunities. Standard Bank and ACCELERATE work with partners and stakeholders across the public and private sectors towards finding solutions for the empowerment of the Batswana people.</li>
<li>Incubation as an innovative approach to helping businesses transform ideas into a minimum viable product. Incubation supports the de-risking of seed and early-stage businesses and thereby improve sustainability as well as improved access to finance. Five digital iDeate bootcamps that hosted a total of 178 entrepreneurs were held in Mozambique in 2020, led by Standard Bank and supported by their delivery partner Ideialab. The virtual format opened participation to SMEs from across the country and accessibility to the programme was enabled through a sponsorship of data bundles by the bank in partnership with Vodacom.</li>
<li>Acceleration of assistance that leads to improved business operations for profitability and growth. 
The Stanbic Bank Zimbabwe Incubator Hub was set up to help young people tackle the challenges they faced when starting or growing a business, as well as to support the Central Bank’s National Financial Inclusion Strategy as it relates to SMEs. Through workshops, training, coaching and mentoring, the hub provides support for young businesses to access markets and finance.</li>
<li>Value chain development by supporting high potential, local SMEs to access supply chain integration opportunities. In Mozambique, a virtual iDeate bootcamp was held over five days, in partnership with ENI Rovuma Basin, to build SMEs’ from 14 different sectors, in their technical and managerial capacity as well as to enable them to access the value chains of oil and gas multinationals. The virtual format empowered SMEs from across the country to participate.</li>
<li>Financial Inclusion that supports gender, youth and informal sector empowerment. 
In Uganda, the Stanbic Business Incubator was able reach more entrepreneurs across 10 districts by taking training online during the pandemic. Since its inception in 2018, A total of 1,219 small and medium enterprises benefited from the Business Development Services and coaching support.</li>
</ol>
Job creation is critical to the growth of Africa, and if small businesses have access to information and mentorship across these pillars, they will more likely be able to scale their businesses and increase employment opportunities in their community.
While the pandemic has had a devastating impact on lives and livelihoods, it has also created new opportunities to accelerate change.
“Africa’s small business owners have proven themselves as inventive and resilient in the face of an unprecedented crisis, and we believe that they are well-positioned to make great progress as the continent emerges from this pandemic,” says Barnard. 
Ends

How Business Incubators Are Helping Entrepreneurs In Africa

Leading financial services institution, Stanbic Bank has purchased equipment to resuscitate operating procedures in theatre number 1 at the maternity wing, and also refurbished its recovery room at Sally Mugabe Central Hospital as part of its Corporate Social Investment (CSI) initiative.
This work by Stanbic Bank, for which the theatre equipment was imported at a cost of USD37000 and the refurbishment worth ZW$ 2 million, was pivotal in rescuing the dire situation for expecting mothers from across the Harare Metropolitan Province and beyond.
The purchase of this equipment will ensure that the two operating theatres are fully functional following the collapse of the anaesthesia equipment in theatre 1 a few years ago.
Stanbic Bank Chief Executive (CE), Solomon Nyanhongo said the donation by Stanbic Bank is part of its comprehensive CSI health-related initiative whose flagship project is called USIZO-RUYAMURO launched in 2019. USIZO-RUYAMURO was launched at the reopening of the Cancer Association of Zimbabwe halfway house located at Sally Mugabe Central Hospital, where Stanbic Bank refurbished the facility.
The flagship project seeks to support and facilitate the growth and sustainable development of public health services in Zimbabwe.
Nyanhongo said Stanbic Bank also supported Sally Mugabe Central Hospital with a donation of analgesics in January 2019 which went a long way in alleviating the shortages that were at the hospital at the time.
He said it is at that donation in 2019, that hospital authorities alerted Stanbic representatives to the need for anaesthesia equipment for theatre 1 as only one of the two theatres was functioning. This situation was resulting in an increased number of stillbirths and other avoidable maternity-related complications.
The hospital authorities also requested the renovation of the recovery room which had a leaking roof, as this would help further reduce the lag time between patients coming in and out of the operating theatres.
“Stanbic Bank purchased the theatre equipment, refurbished the entrance hall; internal passage; boots room; sluce room; maternity theatre; scrub room; Sister-In-Charge’s Office and outside passage,” said Nyanhongo.
He said Stanbic Bank was pleased to have been able to make such a donation during the COVID-19 pandemic is causing havoc not only in this country but throughout the globe. The Bank had to persevere through the lockdowns to ensure that the theatre is up and running as soon as possible.
“Such determination and never-say-die spirit is the hallmark of Stanbic Bank which has seen us introduce numerous products to ensure that our customers are not compromised by COVID-19. While COVID-19 has affected our operations like any other entity, Stanbic Bank’s comprehensive CSI initiatives will continue as we fulfil our commitment to supporting the communities in which we operate,” he said.
The equipment purchased included an anaesthesia machine, suction pumps; a conventional laryngoscope set; an infant weighing scale; a fluid warmer; an IV pole; a surgical table, an electrosurgical unit, an infant warmer; defibrillator; eco patient monitors; infusion pump and a patient monitor rolling stand.
He said the refurbishment exercise included fitting of two sets of double action doors; painting of walls, replacing Formica tops to wall edge protection, supplying and fitting cupboards and shelves.
The Sluce Room’s whitewash trough and leaking p-trap was removed and replaced while the mosaic tiles were replaced with new ceramic floor tiles. The Maternity theatre was fitted with a table, stainless steel rail and dropped poles for hanging drips.
The scrub room had new equipment installed which included PVC waste pipes, washbasins were re-enamelled, new sink mixers; new ceramic wall tiles, and painting of walls.
Also installed were purpose-made soap dispensers for scrubbing; edge strip to cupboards; new hand paper towel holder; new LED tubes. Broken glazing was replaced with new obscure glazing while the damaged curtain rails were also replaced.
“To ensure a conducive working environment, we painted the Sister-In-Charge’s office and fitted it with new wall cupboards and curtain rail. We also gave a fresh coat of paint to the outside passage,” said Nyanhongo.
Stanbic Bank’s CSI initiatives are not only aligned to health but span a broad spectrum of areas such as the environment, education, the environment, sports among other areas.
Sally Mugabe Hospital Acting Chief Executive Officer (CEO), Christopher Pasi said the donation by Stanbic bank will contributing significantly in preserving the lives of newly born babies and the mothers who would have just delivered as well as during delivery.
He said it had been a tough few years utilising one operating theatre and the new equipment has lifted the gloom that had surrounded the maternity wing.
“Words fail us to describe the impact these machines have on the maternity wing. When people say congratulations after a baby is born they will be celebrating the survival of both the mother and child due to potential complications aligned to giving birth and these machines will ensure many mothers are congratulated for bringing life into the world. We are so grateful to the blossoming partnership between ourselves and Stanbic Bank which is now spanning years with the bank having rescued us when we need pain killers for mothers after their operations,” said Dr Pasi.
He said being a central referral health institution they receive some of the most challenging cases of expecting mothers and the equipment will be pivotal in attending to these cases.

Stanbic Resuscitates Sally Mugabe Hospital Maternity Theatre

Stanbic Bank Zimbabwe’s South African-based parent company, Standard Bank Group, has been named the Best Bank in Africa in Global Finance’s 28th annual awards for the World’s Best Banks.
Additionally, Standard Bank South Africa and Stanbic Bank Uganda were named the best banks in their respective markets.
The awards come at a time when the banking industry has played a supportive role in assisting clients and societies through the COVID-19 crisis.
They demonstrate Standard Bank Group’s commitment to driving positive socio-economic impacts across its markets in Africa.
The winners of this year’s awards are those banks that attended carefully to their customers’ needs in difficult markets and accomplished strong results while laying the foundations for future success, according to Global Finance, which has a circulation of 50,000 and readers in 189 countries. Joseph D. Giarraputo, publisher and editorial director of Global Finance said:
<blockquote>
Banks are playing a key role in economic recovery around the world. Our Best Bank awards highlight the leaders in restoring growth and mapping a way forward.
This year’s evaluations are more important and valuable than at any point in their 28-year history, given the unprecedented economic conditions wrought by the global pandemic.
</blockquote>
All selections were made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world.
In selecting these top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
Objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products.
Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.

Stanbic Bank has posted an inflation-adjusted profit after tax of ZWL1.1 billion for the year ended 31 December 2020, recovering from a ZW$44 million loss in the prior year.
The Standard Bank subsidiary posted a ZW$ 3.1 billion profit for the year under review in historical cost terms, exceeding the comparative period performance of ZW$477 million.
In a statement accompanying the results, Stanbic’s Chairman, Gregory Sebborn, said the Bank ended the year with a qualifying core capital of ZWL3.8 billion up from the 2019 figure of ZW$651.2 million, well ahead of the regulatory minimum of ZW$25 million.
The leading financial services institution has remained ahead of the 2021 minimum capital threshold which is the local currency equivalent of USD30 million.
Sebborn bemoaned the adverse effects COVID-19 had on the economy particularly during the lockdown periods. Sebborn said:
<blockquote>
The outlook for 2021 remains grim on account of the resurgence in the number of COVID-19 infections. Sustenance of the positive developments achieved in the second half of 2020 will be hugely dependent on the impact of COVID-19 in the outlook and potential Government interventions to control any adverse developments.
The GDP growth rate of 7.4% projected by Government for 2021 could be at risk if the impact of COVID-19 on economic performance is not significantly mitigated through the availability of a sustainable and affordable vaccine.
</blockquote>
In an accompanying statement, Stanbic Bank Chief Executive (CE), Solomon Nyanhongo said inflation-adjusted net interest income declined by 18% from ZW$2 billion in 2019 to ZW$1.7 billion, despite the strong growth in the bank’s gross lending book from an inflation-adjusted balance of ZW$4.3 billion to ZW$9 billion as demand for local currency funding continued to increase in line with growing working capital requirements.
Nyanhongo said lending rates remained subdued during the year and could not match the 14% average month on month inflation on account of market and regulatory constraints and, in turn, contributed to the receding interest income. Said Nyanhongo:
<blockquote>
The Bank recorded a 53% increase in its net fee and commission income, growing from ZW$1.7 billion in 2019 to ZW$2.6 billion.
The improvement in our fee and commission income was largely underpinned by the impact of the rapid depreciation of the local currency against the USD on our foreign denominated commission income.
</blockquote>
The bank remains resolute and dedicated to its five strategic pillars, with Client Centricity being the bedrock.

Stanbic Recovers From Loss To Post A Profit For Year Ended 2020

Stanbic Bank has appointed seasoned banker, Tafadzwa Mahachi as their new Chief Financial Officer (CFO), with effect from 1 March 2021.
Mahachi, who is a Chartered Accountant and a holder of a Bachelor of Accounting Science Honours (Hons BCompt) and a Post Graduate Diploma in Auditing, replaces Solomon Nyanhongo who was appointed Chief Executive (CE) in January this year.
In a statement, the bank’s Board Chairman, Gregory Sebborn, said Mahachi will also join the Board of Directors as Executive Board Member of the Standard Bank Group subsidiary. Said Sebborn:
<blockquote>
I am pleased to announce the promotion of Tafadzwa Mahachi to the role of Chief Financial Officer and Executive Board Member of Stanbic Bank Zimbabwe, effective 1 March 2021.
</blockquote>
Mahachi, who has been with Stanbic Bank since 2008 was serving as the Head of Finance before this recent development.
He brings with him a wealth of banking experience which is envisaged to drive the leading financial services institution forward.
In earlier years, he was seconded as Head of Finance for Standard Bank Eswatini for almost a year, a move which can be said to signify the Standard Bank Group’s confidence in his capabilities.
In an accompanying statement, Stanbic’s recently appointed CE, Solomon Nyanhongo, congratulated Mahachi on his appointment and indicated that Mahachi has an exceptional understanding of the wider financial services industry and has become an integral player in the banking sector at large.
Mahachi’s appointment comes two months after the appointment of Nyanhongo as substantive CE following the retirement of his predecessor Joshua Tapambgwa in December last year.

Stanbic Bank Appoints New Chief Financial Officer

Stanbic Bank, Chief Executive (CE), Joshua Tapambgwa has stepped down from the helm of the leading financial services institution, effective 31 December 2020, after an illustrious 18 years at the Standard Bank Group subsidiary
Tapambgwa joined Stanbic Bank on 1 September 2002 as Head of Finance and rose through the ranks to become CE in 2008.
It is the softly spoken Tapambgwa’s sterling work that saw him being promoted first to Executive Director, Finance in 2005 then Chief Executive in 2008, a position in which he has steered the bank to greater heights during his 13-year reign as head of the institution.
He has been replaced by Chief Financial Officer, Solomon Nyanhongo, effective 1 January 2021. Nyanhongo joined Stanbic Bank in 2003 as a Senior Manager and was later appointed Head of Finance in 2009 and then Chief Financial Officer, the same year, a position he has held till his recent appointment.
Tapambgwa is credited with steering the leading financial services institution through the toughest economic periods the country has seen in its 40-year history.
Zimbabwe’s economy was at an all-time low when Tapambgwa was appointed as CE in 2008, with the banking sector tumbling from one crisis to another, chief among them being the collapse of the Zimbabwe dollar and spiralling inflation. Tapambgwa said:
<blockquote>
My appointment was akin to being thrown into the deep end as the economy was heading south and I would definitely say steering the ship during some of the country’s worst economic times gave me great satisfaction. Obviously, I had a great team around me so that lessened the burden.
</blockquote>
Stanbic Bank defied the economic challenges bedevilling the country during Tapambgwa’s tenure to perform admirably with some of the major highlights being awarded Best Bank in Zimbabwe not only as judged by leading analysts, media houses and financial institutions in the country but also by respected global pundits and institutions.
In 2020 alone, Stanbic Bank was named Best Bank in Zimbabwe by two reputable institutions Europe, Middle East and Africa Finance and The Banker respectively. The later award is the second year running that Stanbic scooped the prized accolade.
As much as Tapambgwa did well during the harsh economic times in Zimbabwe, he has been instrumental in guiding Stanbic Bank in these trying COVID 19 times with the institution introducing a myriad of products aimed at protecting its customers from the pandemic while ensuring that they received top-notch service.
The need to keep a social distance while having to ensure customers’ needs were not compromised, saw Stanbic Bank introducing highly innovative products such as the contactless debit cards to protect its clients from contracting the virus among other measures. Tapambgwa added:
<blockquote>
Every institution is judged by its performance and I’m humbled to have played a pivotal role in positioning Stanbic as one of the top performers in Profit After Tax, Return on Equity and governance issues
</blockquote>
He said leading a team trusted with responsibilities to hold dual roles (Zimbabwean and Regional roles) such as Head of Finance, Head of Audit, Head of Risk, Head of Projects, Head of Group Physical Security was one of his proud moments in life as it demonstrates the extent to which the team he has developed had expanded their capacity to lead across the Group.
As such Tapambgwa is confident that the group of leaders that he has extensively groomed are more than capable to take the bank forward.

Stanbic Bank Boss Tapambgwa Steps Down

Stanbic Bank Zimbabwe has taken the cost of accessing some of its digital banking platforms charges from the customer to the bank.
As a way of enabling its customers to enjoy the convenience of digital banking, the financial institution has taken on the internet data cost as they pursue a customer-centricity approach to implementing their digital bank strategy.
In recognition of the escalating data bundle costs among others, the Standard Bank Group subsidiary has zero-rated the platforms for all their customers who are Econet subscribers.
Stanbic Bank Head of Personal and Business Banking, Patson Mahatchi said the move was meant to cushion the customers in line with the institution’s thrust to put the interest of its customers first. Said Mahatchi:
<blockquote>
Customer centricity is of utmost importance to our business and in keeping with this key pillar, we have seen it fit to ensure that our customers are able to access essential services on our digital banking platforms at no data costs. Therefore, we now subsidize the internet service.
</blockquote>
Mahatchi added that the bank is still working with other mobile network service providers to make the same service available to Netone and Telecel subscribers. He said:
<blockquote>
This move also demonstrates our dedication to becoming a digital bank and how we are focused on ensuring that our customers get the services as conveniently as possible, and we continue to encourage our customers to embrace digital banking platforms.
</blockquote>
The platforms that have been zero-rated are – Stanbic Bank Zimbabwe website, Stanbic App, Online Banking and the SlydePay app.
SlydePay is a technologically advanced application which allows account holders to pay bills and make in-store purchases on their phone using QR code scanning technology.
Launched in July this year, the App is a platform which uses wallet technology to connect one’s bank account to the payment platform, allowing customers to click on an already listed biller and instantly process payments in real-time.
This gesture by Stanbic Bank comes as the institution is celebrating multiple awards of being “The Best Bank in Zimbabwe” by The Banker and by Europe, Middle East and Africa Finance.
Both are reputable global institutions who recognise top banks in Africa and Worldwide respectively. They commended Stanbic Bank’s innovative approach to its operations and products especially under the difficult operating environment brought about by COVID 19.

Stanbic Bank Zero-rates Digital Banking Platform For Clients

<div class="hide">
<div>Leading financial services institution, Stanbic Bank, has been awarded the 2020 Bank of the Year 2020 accolade for the second year running by top banking magazine – The Banker.</div>
<div> </div>
<div>Given the travel and social distancing constraints imposed this year by the COVID-19 pandemic, the Banker hosted the prestigious annual event virtually.</div>
</div>
<div>
The Standard Bank Group subsidiary’s award comes barely a month after winning the Best Bank in Zimbabwe at the African Banking Awards hosted by leading financial services journal, Europe, Middle East and Africa (EMEA) Finance.
Stanbic Bank joined other Standard Bank subsidiary country banks Ghana and Tanzania in maintaining the dominance of Africa’s leading banking group in the financial services sector as they have representation in 20 countries across the continent.
The Banker “Bank of the Year” accolades are among the most coveted and widely regarded awards in the banking industry. The Banker is a member of the Financial Times Group renowned for being one of the most trusted sources of global banking information since 1926.
Last year Stanbic Bank won the award, regarded as the industry standard for assessing banks globally since 1926, together with stable countries South Africa, Lesotho, Zambia, and Angola.
Stanbic was recognised for its resilience and innovation in the face of the operational challenges brought about by the menacing COVID 19 which has caused havoc worldwide. The pandemic presented the banking sector with challenges beyond any previous experience and Stanbic Bank was commended for “providing stability and putting the needs of its clients and employees at the forefront of its operations”. The Banker magazine added:
<blockquote>
The industry has been at the forefront of providing stability and access to vital services at this critical time. The judges this year have placed particular emphasis on which banks have led the way in meeting client needs and maintaining resilience in the face of the pandemic.
A rigorous and highly analytical process is made to reach each Bank of the Year decision and our reputation for independence, authority and integrity is applied to each submission. More banks apply for the Bank of the Year Awards than any other similar process and our access to data on each bank and our focus on transformation, inclusion and diversity in the industry is well known.”
</blockquote>
Stanbic Bank Chief Executive, Joshua Tapambgwa, said the institution had to adopt an “It can be” attitude in the face of COVID-19 and was determined not to let their clients and employees down.
Tapambgwa said this award was even more humbling than last year’s one, owing to the challenges posed by COVID-19 and the determination by the institution’s board, management and staff to ensure the clients received the most innovative, effective and efficient services even under the difficult circumstances. Said Tapambgwa:
<blockquote>
COVID-19 was an unknown virus which took all and sundry by surprise and we really had to think on our toes with our clients and employees in mind. As much as most of our staff members had to work from home, the fact that we are an essential service gave us the determination to overcome our fears of the pandemic, knuckle down and work for our clients.
</blockquote>
He said the bank introduced contactless debit cards to protect its clients from contracting the virus among a host of other innovative measures to mitigate against the spread of the virus.
Tapambgwa said Stanbic Bank not only took care of its clients and employees but went the extra mile to purchase US$200 000 worth of 5 ventilators; 32 500 Personal Protective Equipment (PPEs) which include suits, masks, face shields and goggles; 2 400 PCR tests, 3 000 sanitizers for frontline workers from six referral hospitals and COVID-19 centres throughout the country. Tapambgwa added:
<blockquote>
Our contribution went well beyond the purchase of PPEs and other equipment as we provided US$2.8 million worth of credit and allocation of foreign currency to our clients in the medical and associated industries to facilitate the acquisition of health care items to help fight the pandemic.
</blockquote>
St Anne’s Hospital, Wilkins Hospital in Harare, Gweru Provincial Hospital, Masvingo Provincial, Thorngrove and Mutare Infectious hospitals all received their share of PPEs in June this year.
The Banker celebrates 95 years in January 2021.
</div>

Stanbic Named Bank Of The Year 2020

Stanbic Bank continues to implement its digitization strategy as it seeks to remain in sync with the futuristic need for technological advancement as well as the dictates of the new normal brought about by COVID-19.
In line with this digitization journey, Stanbic Bank is set to discontinue its physical operations at Hwange and Westgate branches with effect from December 31, 2020.
The bank advised of this development in a statement which also assured their customers that they would continue accessing all services on the bank’s various digital banking platforms.
Stanbic Bank’s digitization exercise kicked off in earnest last year with the closure of Chitungwiza and Beitbridge branches and the two pending closures will leave the Standard bank Group subsidiary with 15 branches countrywide down from 19 last year.
Stanbic Bank Head of Personal and Business Banking, Patson Mahatchi, said the branch closures will not affect the banking needs of existing and potential clients as they will be adequately catered for at other branches and the various digital platforms available.
Mahatchi said accounts currently maintained at Hwange and Westgate branches will be automatically transferred to Victoria Falls and Belgravia branches respectively. He said:
<blockquote>Our customers can still access self-service digital channels and in-branch services at any of our remaining 15 branches country-wide. We always have our clients’ needs at heart and this digitization exercise will benefit them significantly.</blockquote>
He said the digitization drive was already work in progress but was accelerated by the “new normal” brought in by the Covid-19, whereby clients needed to stay safe, oftentimes even working from home, but still enjoy innovative banking solutions. Added Mahatchi
<blockquote>Our digitization drive is not only ideal and relevant during the prevailing operating environment in which customers need to stay safe from COVID-19 but is a hallmark of the dictates of new technological advancement.
As a bank, we have to keep our finger on the pulse of innovation and technological advancement.</blockquote>
He reiterated that Stanbic Bank’s digitization exercise is in line with worldwide technological advancement trends within the financial and non-financial institutions aimed at enhancing the ease of banking to its customers.
As part of its digitization strategy, Stanbic Bank launched contactless debit cards and POS machines becoming the first financial services institution to introduce this highly secure innovative technology onto the Zimbabwean market.
Apart from the “contactless” debit cards and point of sale machines, Stanbic bank, stepped up the functionality of FCAs on its digital banking platforms in addition to launching a technologically advanced application which allows account holders to pay bills and make in-store purchases on their phone using QR code scanning technology called SlydePay.
All these products are part of a well thought out digitization strategy which offers convenience to customers and ensures that clients are beneficiaries of quality banking technologies.

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