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Five potential investors, including local and regional firms, have made their bids to acquire Standard Chartered Bank Zimbabwe (StanChart), the oldest financial institution in the nation.
On April 14 of 2022, the London-headquartered <a href="https://zero.pindula.co.zw/standard-chartered-bank-group-selling-selling-its-zimbabwean-subsidiary/">bank stated that it would withdraw</a> from Angola, Cameroon, the Gambia, Sierra Leone, Zimbabwe, Jordan, and Lebanon in the Middle East.
According to reports, the company is completely leaving these markets because StanChart accounted for only 1% of its 2021 revenue.
Bill Winters, the chief executive of Standard Bank, stated in April of last year that the financial institution was streamlining its operations while also narrowing its emphasis on the most significant chances for growth.
StanChart’s departure ends a 130-year presence in Zimbabwe.
According to the Independent, five investors have since submitted their bids and the list has since been reduced to three.
Banks which made bids:
<blockquote>
i). CBZ Holdings and 
ii). FBC Holdings 
iii). FNB of South Africa 
iv). South African bank Nedbank through its shareholder, Old Mutual Zimbabwe, 
v). A consortium representing Zimbabwean entrepreneurs (names supplied) is also on the list of bidders.
</blockquote>
StanChart Zimbabwe spokesperson Lillian Hapanyengwi said the process to identify potential buyers is ongoing.
Another source, however, said the finalisation of the transaction could be delayed by the upcoming general elections but confirmed bids from the five bidders.
This is not the first time that an international financial institution has exited the Zimbabwean market. 
On June 2, 2017, Barclays announced the sale of its outpost in Zimbabwe to Malawi-listed lender First Merchant Bank, a continuation of the bank’s exit from Africa.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

Pindula News

5 Investors Make Bids To Acquire Standard Chartered Bank Zimbabwe

In case you want to open a Non-Resident account In South Africa, you can do so at FNB Bank.  To do so you will need to have the following:
<blockquote>
<ul>
<li>Recent certified payslip or proof of income</li>
<li>Certified copy of passport</li>
<li>Three months latest bank statements from your bank abroad.</li>
<li>Proof of physical address aboard, not older than 3 months</li>
</ul>
</blockquote>
The benefits of opening such an account include:
<blockquote>
<ul>
<li>These types of accounts can be funded by foreign currencies. (Documentary evidence might be required in order to prove this.)</li>
<li>Should you want to open a multi – currency bank account, you will need to also open a Rand account at the same time.</li>
<li>Any foreign funds that are deposited into a SA account (non – resident) can be remitted abroad at any given time provided that the transactions occurred within the South African Reserve Bank.</li>
</ul>
</blockquote>
However, banks like <a href="https://www.standardbank.co.za/southafrica/personal/products-and-services/bank-with-us/foreign-nationals/non-residents">Standard Bank </a> and <a href="https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/non-resident-faqs.html">Nedbank</a>, have the same feature you can choose what works for you.
More:<a href="https://www.fnb.co.za/forex/non-resident/cheque-accounts.html"> FNB</a>

How To Open A Non Resident Account With FNB Bank In South Africa Without A Work Permit

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