STANBIC Bank Zimbabwe has reaffirmed its commitment to supporting the telecommunications industry.
The leading financial services institution made this commitment at a breakfast meeting attended by key players in the telecommunications sector in Harare recently.
The event, which brought together various telecommunications companies, underscored the bank’s focus on driving growth and innovation within this critical industry.
In his welcome remarks, Stanbic Bank board chairperson Mucha Mkanganwi commended the sector for its vital role in enabling businesses to foster innovation and expand their reach as well as driving information democracy and connecting the world globally.
“We understand the pivotal role telecommunications plays in driving economic growth, digital transformation, and connecting communities hence we are committed to support this sector as much as we can,” Mkanganwi said.
He said this commitment was driven by the group’s thrust to prop up Africa’s growth through its presence in various countries.
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Stanbic Bank telecommunications sector specialist, Vongai Mhazo, said the institution realised that there is need to establish collaborations with fintechs given that they operate in different frontiers.
“Fintechs are critical part of our value chain, and we will continue to partner them to deliver value to our clients,” she said.
She said the bank offers a comprehensive suite of financial products and services, including escrow account management, letters of credit, Export Credit Insurance Corporation-funded structures and asset-backed funding, to support companies within this sector.
“Stanbic Bank Zimbabwe remains committed to ensuring the telecommunications industry has access to the financial support needed to invest in infrastructure, facilitate cross-border transactions and expand their services,” Mhazo said.
She said as Zimbabwe continues to enhance its digital infrastructure, the bank stands ready to support the sector’s growth, reinforcing its role as a key enabler of connectivity and prosperity in the country.