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Stanbic launches mining client value proposition to drive economic growth

Chamber of Mines Chief Executive Officer (CEO), Isaac Kwesu commended Stanbic Bank for launching the Mining Client Value Proposition saying it would help enrich the mining space in Zimbabwe.

Leading financial services provider, Stanbic Bank ,last week launched its mining client value proposition on Thursday, reaffirming its commitment to empowering Zimbabwe’s mining industry and promoting sustainable economic growth.

This cements Stanbic Bank’s rich legacy of providing unwavering support to the mining sector.

The driving mantra of Stanbic Bank, according to the lender’s CEO, Solomon Nyanhongo, is “Zimbabwe is our home, we drive her growth,” which highlights the bank’s steadfast dedication to the prosperity of the nation.

For decades, Stanbic Bank has been a key player in the mining sector. Stanbic’s unwavering dedication has seen the institution through cycles of growth and challenges alike culminating in renewing its pledge to this vital industry, reinforcing its role not just as a bank but as a partner in progress through this launch.

“For many years, Stanbic Bank Zimbabwe has stood shoulder-to-shoulder with the mining sector, offering tailored financial solutions and support. Today, we are proud to reaffirm our commitment and unveil our enhanced Mining Client Value Proposition,” said Nyanhongo.

He said central to Stanbic Bank’s approach is a commitment to fostering meaningful partnerships with its clients for mutual growth and success.

Nyanhongo said Stanbic also banks on its global partnerships to foster local growth. He said Stanbic Bank is wholly owned by Standard Bank Group which is the largest bank in Africa by assets and employees and by all sorts of measures.

The Group is represented in 20 countries in Africa with its footprints from south all the way up to the north of Africa.

“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. 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,” said Nyanhongo.

Stanbic’s partnership with the Industrial and Commercial Bank of China (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. As such, our renewed commitment is not just about banking but about galvanising industry growth and driving positive change,” said Mahatchi.

He said 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 Stanbic Bank Zimbabwe 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.

“In line with our vision to go beyond banking, we are committed to being the Zimbabwean bank of choice for the mining sector. Through our renewed commitment, we aim to unlock new opportunities, drive operational excellence, and contribute to the long-term prosperity of Zimbabwe,” said Mahatchi.

He said the launch represents more than just a business initiative for Stanbic Bank but a reaffirmation of its role as a catalyst for growth and development in Zimbabwe’s mining industry.

The Mining Client Value Proposition demonstrates the Standard Bank Group subsidiary’s understanding of the financial intricacies and needs of the mining sector.

Mahatchi said Stanbic believes in the power of partnership adding that the institution’s approach goes beyond transactions

“At Stanbic Bank we invest in relationships, fostering a collaborative environment where every stakeholder thrives. Together, we are not just banking on growth, but we are cultivating it,” said Mahatchi.

Stanbic Bank Zimbabwe is a leading financial institution dedicated to driving economic growth and prosperity in Zimbabwe. With a steadfast commitment to innovation, excellence, and community development, the institution continues to set the standard for banking excellence in the region.

Chamber of Mines Chief Executive Officer (CEO), Isaac Kwesu commended Stanbic Bank for launching the Mining Client Value Proposition saying it would help enrich the mining space in Zimbabwe.

In a speech read on his behalf by Chamber of Mines, Mining Affairs Manager, David Matyanga, Kwesu said the launch 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. Continual improvement of product offerings through innovation and use of cutting-edge technologies is bound to improve the business environment.,” said Kwesu.

He said the Chamber of Mines of Zimbabwe enjoyed a great working relationship with Stanbic Bank. The Chamber appreciates Stanbic’s innovativeness and responsiveness to the needs of the Mining industry.

“We look forward to developing our relationship further in the interest of growth and sustainability off the mining businesses in Zimbabwe,” said Kwesu. – (Business Times)

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