LEADING financial services institution, Stanbic Bank, has launched a mining client value proposition, signalling its renewed dedication to empowering the mining sector and driving sustainable economic growth in Zimbabwe.
The mining client value proposition cements the bank’s rich legacy of providing support to the mining sector.
Speaking during the launch last Thursday, Stanbic Bank chief executive officer Solomon Nyanhongo said for decades, the financial institution has been a key player in the mining sector.
“For many years, Stanbic Bank Zimbabwe has stood shoulder-to-shoulder with the mining sector, offering tailored financial solutions and support,” Nyanhongo said.
“Today, we are proud to reaffirm our commitment and unveil our enhanced mining client value proposition,” he said.
He noted that central to Stanbic Bank’s approach is a commitment to fostering meaningful partnerships with its clients for mutual growth and success.
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“As you expand and outgrow the Zimbabwe market and want to go into other areas in Africa, we are there to introduce you to our banking partners or to our fellow subsidiaries and companies throughout Africa,” the CEO said.
“In that regard, Stanbic is the right choice of a bank as you move out of Zimbabwe. Standard Bank is also an associate of the largest bank in the world, Industrial and Commercial Bank of China (ICBC Bank) domiciled in China. There you are guaranteed again, world class practices, financial discipline and everything which meets the world standards.”
Stanbic’s partnership with the ICBC through its parent company Standard Bank Group is instrumental in securing and facilitating the importation of quality machinery and chemicals from China.
Stanbic head of business and commercial banking Patson Mahatchi said the institution seeks to transcend traditional banking boundaries through collaborative efforts and strategic alliances, which will propel it to being the foremost financial partner for the mining sector in Zimbabwe.
At Stanbic Bank Zimbabwe, we are cognisant of the fact that mining contributes significantly to the economic growth of Zimbabwe,” Mahatchi said.
“ As such, our renewed commitment is not just about banking but about galvanising industry growth and driving positive change.”
The enhanced mining client value proposition offers a comprehensive suite of financial products and services tailored to meet the evolving needs of mining companies.
Mahatchi said the bank remains steadfast in its mission to empower mining clients to achieve their full potential on the back of a cocktail of innovative financial solutions, risk management strategies and digital banking platforms.
“At Stanbic Bank, we invest in relationships, fostering a collaborative environment where every stakeholder thrives,” he said.
“Together, we are not just banking on growth, but we are cultivating it.”
Chamber of Mines of Zimbabwe chief executive officer Isaac Kwesu commended Stanbic Bank for launching the proposition, saying it would help enrich the mining space in Zimbabwe.
In a speech read on his behalf by the Chamber of Mines mining affairs manager David Matyanga, Kwesu said the offering by Stanbic Bank would go a long way in making the business operating environment competitive to attract investments commensurate with its endowments.
“This event by Stanbic is so important,” he said.
“Continual improvement of product offerings through innovation and use of cutting-edge technologies is bound to improve the business environment.
“We look forward to developing our relationship further in the interest of growth and sustainability of the mining businesses in Zimbabwe.”