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Stanbic targets diaspora property investment


STANBIC Bank Zimbabwe is taking part in two property, trade and investment expositions in the United Kingdom (UK) this week targeting investment in residential and commercial property for Zimbabweans living in the diaspora.

This week Stanbic will be participating at the inaugural Nyaradzo Trade and Investment Fair where it will be exhibiting its home loans product in Herdfordshire.

The Nyaradzo Trade and Investment Fair will run from Friday to Sunday,

Stanbic’s Zimbabwe head of consumer and high net worth clients, Nelson Muhau, said the financial institution would capitalise on the opportunity to meet Zimbabweans in the UK and draw their attention to the institution’s diaspora home loans product.

“Our home loans team will meet clients face-to-face and answer their questions as we advise them on the facilities through which they could build, renovate or purchase homes back home through Stanbic Bank Zimbabwe,” Muhau said.

The Standard Bank Group subsidiary is also the main sponsor of the Vaka-Ekhaya Property Investment Expo scheduled for September 24 in West Bromwich, UK.

He said the Zimbabwean community in the United Kingdom presented a unique investment and development case as Zimbabweans abroad were always seeking ways to have some form of investment back home.

“We believe this property expo, as intended, will afford them a platform to invest in residential and commercial property back home thereby opening streams of income, stimulate the property market as well as bringing the much-needed infrastructural development in the country,” Muhau said.

The bank offers mortgage finance to the diaspora for the acquisition of completed houses, construction of new properties, home and property improvements and equity release.

“We are basically reaching out to our diaspora market, those in the UK who want solutions back home in terms of housing and commercial properties. From a national perspective Stanbic is also playing its part in reducing the housing backlog which is around 1,4 million,” he said.

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