Stanbic Bank Zimbabwe has stepped up efforts to promote sustainable healthcare growth in Zimbabwe by connecting key Zimbabwean health sector players with those from across the globe.
Stanbic recently hosted a high-level cocktail event that brought together key stakeholders across Zimbabwe’s medical value chain including representatives from the Ministry of Health and Child Care, executives from Stanbic Bank Zimbabwe, senior health professionals, and strategic partners such as the Chinese Embassy and Zhejiang International Supply Chain Company (Guomao); reaffirming its commitment to supporting the health sector through sustainable international partnerships- particularly in China.
Stanbic Bank also took advantage of the event to announce a trade mission to China for healthcare players later this year as part of new initiatives aimed at strengthening Zimbabwe’s health systems.
The stakeholders converged over a cocktail in Harare, themed “Strengthening Zimbabwe’s Healthcare: Financing Growth and Empowering Communities.”
Head of Business and Commercial Banking at Stanbic Bank, Patson Mahatchi, told participants that the importance of a well-functioning health delivery system can never be over emphasised hence the institution has an unwavering commitment to play a pivotal role in championing this cause.
Mahatchi said the theme of the event summed up Stanbic Bank’s commitment adding that it was all encompassing, touching on the need to improve healthcare delivery, facilitating growth for service providers, while ensuring a healthy and empowered populace.
He said the healthcare cocktail was not just a celebration of what has been achieved, but —is a bold statement about Stanbic Bank’s future-facing approach to national development.
Mahatchi said by combining smart financing solutions, strategic partnerships, and a deep understanding of sector needs, Stanbic Bank continues to play a transformative role in empowering communities and industries across Zimbabwe.
“Stanbic Bank has an unwavering commitment to prop up the welfare of Zimbabwean businesses and the people in general underpinned by our core philosophy that ‘Zimbabwe is our home, we drive her growth’. This philosophy drives us to offer funding to the health sector cognisant of the fact that this will enable it to deliver health solutions to the population,” said Mahatchi.
Stanbic Bank Executive Director, Betty Murambadoro said the health sector is one of the leading financial services institution’s priority areas adding that the Standard Bank Group Subsidiary is a true growth partner for the health sector ecosystem with a commitment to facilitate the scaling up of operations and modernising equipment among others.
“Stanbic Bank has recognised that a modern, efficient and accessible healthcare sector is not only essential for improving the lives of Zimbabweans but also fundamental to the country’s broader economic growth. As such, the bank has positioned healthcare as one of its strategic focus sectors,” said Murambadoro.
She said apart from direct financing, Stanbic Bank has well thought out Corporate Social Responsibility (CSR) initiatives aligned to the health sector which include direct financing for health institutions.
Murambadoro encouraged players in the health delivery sector to take advantage of the planned health sector trade mission to China around the second half of this year.
The trip is being organised in collaboration with Zhejiang International Trading Supply Chain Co. Ltd, commonly known as (Guomao), a leading foreign trade enterprise based in Yiwu, with an annual export of more than US$500 million.
“Guomao is Stanbic Bank’s trusted import partner, and this allows Zimbabwean healthcare players a fully immersive experience in China’s advanced medical manufacturing landscape. Participants in the trade mission will have the opportunity to visit leading Chinese hospitals, medical equipment manufacturers, and technology hubs; interact directly with suppliers of quality and affordable healthcare solutions; and build partnerships that can help modernise Zimbabwe’s healthcare infrastructure,” Murambadoro said.
She said Stanbic will use its partnership with Guomao to coordinate the itinerary and logistics to ensure maximum value from the mission.
Stanbic Bank Zimbabwe is a wholly owned subsidiary of Standard Bank Group (South Africa), which has the Industrial and Commercial Bank of China (ICBC)—the world’s largest bank—as its largest shareholder.
Murambadoro said Stanbic Bank leverages on this powerful network to access unmatched capabilities to facilitate Africa-China trade, especially in sectors as critical as healthcare.
Zhejiang International Trading Supply Chain Co. Ltd, Africa Director, Becky Wang said the company is committed to providing quality products at affordable prices.
“Over the past 21 years, we have been engaged in African trade, serving the needs of African customers in the process of industrialization, agricultural modernization, infrastructure construction and medical upgrading. We have delivered products such as production and processing equipment, construction machinery, automobiles and medical equipment made in China to Africa and provided after-sales service support,” said Wang.
In a speech read on his behalf the Ministry of Health and Child Care Deputy Minister, Hon Sleiman Kwidini challenged health sector players to take advantage of existing gaps in the sector to contribute to an improved health delivery system.
He also placed emphasis on the government’s commitment to accelerate delivery of the national health strategy and universal health coverage.
The importance of public-private partnerships was also highlighted, and the ministry stands ready to partner with the private sector to enhance the health sector.

Pindula News

Stanbic Bank Zimbabwe is working with partners to improve healthcare in Zimbabwe. They hosted an event to connect different health sector players and announced a trade mission to China for healthcare workers. The event focused on strengthening healthcare and empowering communities. Stanbic Bank is committed to supporting the health sector and providing funding. They want to modernize equipment and improve healthcare delivery. The Ministry of Health supports public-private partnerships to enhance the health sector. The trade mission to China will allow healthcare players to learn from advanced medical manufacturers and build partnerships for Zimbabwe's healthcare system.

Stanbic Bank Drives Healthcare Sustainability Through International Partnerships

An elderly couple from Bulawayo, Frank Sibanda and his wife, Francisca Netsai, both 65, were sentenced to seven years in prison on March 26, 2025, for embezzling over US$30,000 from Stanbic Bank Zimbabwe.
Due to a technical glitch, the bank mistakenly deposited the funds into Francisca’s account, and the couple exploited the error, withdrawing US$34,110.47 and spending it on extravagant shopping trips in Zimbabwe and South Africa.
The couple was convicted on 47 counts of theft, and the court suspended four years of their sentence for five years on the condition of no similar offences.
The remaining three years are suspended if they repay the stolen amount to the bank by June 20.
In her ruling, Bulawayo regional magistrate Dambudzo Malunga said that the court considered their advanced age, Francisca’s health problems, and their responsibility for their six-year-old grandchild, and the fact that they are first-time offenders, in reducing the sentence. She said:
<blockquote>
You committed a very serious offence, prejudicing Stanbic Bank of a substantial sum. However, the court has tempered justice with mercy in the interest of fairness.
</blockquote>
The Sibandas’ lawyer, Jabulani Ndubiwa of Mashayamombe and Company Attorneys, argued for a non-custodial sentence due to Francisca’s health complications and their caregiving responsibilities.
The couple’s crime was discovered during a routine audit by Stanbic Bank. The bank noticed some strange transactions in their records, which led to an investigation and the couple’s arrest.
The story started on February 5 2024, when Francisca opened a bank account at Stanbic Bank in Bulawayo. 
Her daughter, Rudo, lied about Francisca working for a company in Harare to help open the account. Francisca was then given a Visa card linked to the account.
On April 5, Francisca tried to make a purchase for about US$17.95 at a store in Bulawayo, but the transaction didn’t go through. 
However, due to a mistake during the bank’s process, Francisca’s account was wrongly credited with more than US$40,000 (US$40,850.86) instead of the correct amount.
Realising the mistake, the couple decided to spend the money. Between April 30 and May 1, they withdrew US$2,025 in cash from Stanbic Bank in Bulawayo and spent US$32,085.47 in South Africa. 
They went on shopping trips to places like Sandton and Maboneng, known for their markets and trendy spots.
The bank later noticed the irregular transactions and reported it to the police. After investigating, the couple was arrested. In total, they stole US$34,110.47, and the money was never recovered.
More: <a href="https://www.herald.co.zw/elderly-couple-jailed-for-theft/">The Herald</a>

An elderly couple, Frank and Francisca, stole $34,000 because of a bank mistake. They were sentenced to seven years in jail. They spent the stolen money on shopping trips in Zimbabwe and South Africa. The court was easier on them because they are old and have health problems. Their lawyer said they shouldn't go to jail. The bank found out about the theft during an audit. The couple's daughter helped them open the bank account. Francisca's account was wrongly credited with too much money. The couple spent all the money and were caught by the police. They have to pay back the stolen money by June 20.

Elderly Couple Jailed For Exploiting Bank Glitch To Steal US$34,000

Established and upcoming artists are set to learn business and networking ropes during the well-structured two-day Stanbic Bank Jacaranda Business Conference which precedes the Stanbic Bank Jacaranda Music Festival from the second to the third of October.
The Stanbic Bank Jacaranda Business Conference will see top artists, and established business executives impart invaluable insights into how artists can maximise their talents to become successful businesspersons.
Stanbic Bank Jacaranda Music Festival spokesperson Tariro Chaniwa said the conference was established to create a platform for industry professionals, musicians, and stakeholders to discuss challenges, opportunities, and innovations within the music business. Said Chaniwa:
<blockquote>
The Stanbic Bank Jacaranda Music Business Conference started in 2018 and has grown significantly over the years. It aims to foster collaboration, share knowledge, and enhance the overall growth of the music industry in the region.
</blockquote>
The Business Conference precedes the country’s premier music festival, Stanbic Bank Jacaranda Music Festival which kicks off on the fourth and ends on the sixth of October.
Stanbic Bank is the headline sponsor of the Music festival to be held at the Thorn Park Polo Grounds. 
Chaniwa said the Stanbic Bank Jacaranda Business Conference is succeeding in achieving its intended goals with each year seeing increased participation from industry experts and emerging artists alike. 
She said the feedback from attendees reflects a growing awareness of music business issues, as well as an increase in networking and collaboration opportunities.
Chaniwa said the Conference is evolving but will retain some core elements from previous editions. She said:
This year, we are introducing more interactive sessions and panel discussions to encourage active participation. Additionally, there will be a greater focus on digital engagement and hybrid attendance options to accommodate a wider audience.
Chaniwa said the Ministry of Sports, Recreation Arts and Culture will deliver the keynote speech adding that there will be workshops focused on cultural infrastructure, music distribution, and IP issues.
The conference will also have networking sessions designed to connect emerging artists with established professionals. She said:
<blockquote>
The event slots have filled up so quickly to capacity, showing the hunger by artists to learn and develop themselves. This is pushing us to make this platform bigger and better to accommodate more people.
</blockquote>
Stanbic Bank Head of Enterprise Banking, Auxilia Kambasha said the Standard Bank Group subsidiary is pleased to expand its span of beneficiaries to include artists.
Kambasha said the Enterprise Banking unit caters for the needs of small to medium enterprises (SMEs) who benefit from well-thought-out initiatives by Stanbic Bank. Said Kambasha:
<blockquote>
To that end, artists both established and emerging are a perfect fit for us to work with as we seek to nurture and grow them into fully fledged businesses and entrepreneurs drawing from their talents.
Stanbic Bank organises financial fitness academies aimed at equipping SMEs with skills to handle their finances and artists fall perfectly into this category hence we are fully engaged in this business conference.
</blockquote>
Among speakers are local and regional artists such as Mantwa Chinoamadi (Standard Bank Joy of Jazz Festival Festival South Africa Creative Director); Connie Mazani, Artist Manager and Event Producer; Possenti N Sikosana (Skyz Metro FM; Tanaka Kachara, Scanlen and Holderness; David Molotlhanyi, Channel O South Africa); Prudence Mbofana; Gus Le Breton, Mlombo Music Festival among others.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Upcoming and established artists can learn about business at the Stanbic Bank Jacaranda Business Conference before the music festival. The conference will have talks on how artists can be successful. It aims to help the music industry grow. The conference will have interactive sessions and networking opportunities. There will be workshops on important topics. The conference is becoming more popular each year. Stanbic Bank is happy to support the artists and help them grow their businesses. The conference will have speakers from different fields in the music industry. It is a great opportunity for artists to learn and grow.

Stanbic Bank Conference Offers Business Insights For Artists

Stanbic Bank Zimbabwe has once again come to the rescue of people living with albinism by donating an assortment of sun protection products worth US$ 25,000 to the Albino Charity Organisation of Zimbabwe (ALCOZ).
On Wednesday, the institution handed over 1000 units of sunscreen lotion; 1000 units of antibacterial soap; 1000 units of antiseptic liquid; 1000 units of lip balm and 1000 sunhats.
Stanbic Bank Head of Brand and Marketing, Palmer Mugavha said the institution was pleased to have supported people living with albinism for the last 9 years through the partnership with ALCOZ. 
Mugavha said Stanbic Bank is happy to meet the crucial needs of people living with albinism as the hot season sets in. Said Mugavha:
<blockquote>
Our partnership with ALCOZ is well calculated as Stanbic Bank fully understands the challenges people living with albinism face throughout the year such as weather elements, particularly the heat as summer sets in.
</blockquote>
He noted that people living with albinism need protection from the harmful effects of the sun owing to the lack of melanin in their skin which serves as a shield from the sun.
People living with albinism rely on sunscreen lotions, special oils and lip balm for protection from the sun hence Stanbic Bank has stepped in to meet their needs, especially in these challenging economic times.
Albinism is a rare, non-contagious, genetically inherited condition which occurs worldwide regardless of ethnicity or gender.
It commonly results in the lack of melanin in the hair, skin, and eyes, causing vulnerability to sun exposure.
ALCOZ Projects and Programmes Manager, George Mafararikwa said Stanbic Bank had now proved to be “an all-weather friend” given that the partnership was now in its ninth year in support of people living with albinism. He said:
<blockquote>
Stanbic Bank, our major partner in this worthy cause, has stood by us all these years in support of our initiatives.
We in turn as ALCOZ always see to it that the Stanbic Bank’s hand is well extended not only to beneficiaries in Harare and surrounding areas but that it reaches the most marginalized remote areas such as Binga in Matabeleland North, Matobo in Mat. South, Chiredzi Masvingo, Gokwe in Midlands, Chipinge in Manicaland, Mbire in Mashonaland central just to mention but a few.
</blockquote>
He said ALCOZ, just like Stanbic Bank, is committed to putting its shoulder to the wheel in supporting the government’s efforts to alleviate some of the challenges faced by people living with albinism.
Mafararikwa said the sun protection products will help the beneficiaries to integrate easily into their respective communities and see them doing their daily chores safely in the knowledge that their sensitive skin is protected from the harsh weather conditions that have been exacerbated by climate change due to global warming. He said:
<blockquote>
This support from Stanbic Bank resonates well with one of our program thematic areas running under the theme “MELTING UNDER THE DYING OZONE” which focuses mainly on mitigating the effects of climate change on persons with albinism.
Thank you to Stanbic Bank and the entire team that has been behind this compassionate gesture towards the albinism society for the past nine years.
We pray that this partnership continues at an even larger scale as we serve this marginalized society.
</blockquote>
Mugavha said the donation by Stanbic Bank was part of a broader and comprehensive Corporate Social Investment (CSI) strategy by the Standard Bank Group subsidiary to plough back into the communities in which it operates.
Stanbic Bank’s CSI initiatives cover four pillars namely Health and Sanitation, Education, the Environment and Sports.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Zimbabwe gave $25,000 worth of sun protection items to Albino Charity Organisation of Zimbabwe (ALCOZ). This includes sunscreen, soap, lip balm, and sunhats. The bank has helped people with albinism for nine years. People with albinism have little melanin, so they need protection from the sun. ALCOZ will share the donation with people in remote areas too. Albinism is a genetic condition where people lack melanin, affecting their skin, hair, and eyes. They may also have vision problems and are more sensitive to sunlight and risk skin cancer. ALCOZ thanks Stanbic Bank for supporting them and hopes for more support in the future.

Stanbic Bank Donates $25,000 To The Albino Charity Organisation

Stanbic Bank has opened three additional remote branches in Harare and Karoi as it plays a pivotal role in giving tobacco stakeholders real-time value and banking solutions during the ongoing selling season which opened mid-last month.
The three additional branches bring to 15 the total number of facilities the financial services institution has set up over the last three years as it seeks to offer banking convenience to farmers.
The Standard Bank Group subsidiary plays a significant role in the tobacco sector in Zimbabwe, by providing crucial financial services and support to various stakeholders involved in the production, processing, and marketing of tobacco.
Stanbic Head of Personal and Private Banking, Nelson Muhau said the institution is committed to delivering value to tobacco farmers, transporters, and value chain players in alignment with its vision of delivering exceptional client experiences and superior value.
Muhau said the setting up of three more implants was one such way of living up to that commitment as it brings banking facilities closer to the regions of production. Said Muhau:
<blockquote>
By actively engaging with value chain players and offering tailored financial products and services to the farmers in Zimbabwe, Stanbic Bank is playing a vital role in supporting the growth and sustainability of the agricultural sector and improving the livelihoods of farmers.
</blockquote>
He advised that by actively engaging the customers and understanding their unique challenges through multiple touch points, the bank is playing a key role in the development of the country.
Overall, customer service plays a vital role in fostering client relationships, ensuring satisfaction, building trust, and ultimately contributing to the success and growth of the bank.
Stanbic Bank’s Head of Agriculture Tawanda Maposah noted that the bank’s investment in the tobacco industry in Zimbabwe is unparalleled with the institution availing USD535m to tobacco merchants and primary producers linked to the major tobacco merchants and their value chains.
There are over 105,000 tobacco farmers growing tobacco while more than 95% of production is done through contract farming. Maposah said:
<blockquote>
We understand the importance of agriculture to the country’s economy, and we are committed to supporting the sector in every sustainable way possible.
Our crop financing and payment solutions are designed to meet the unique needs of farmers, and we have a team of experts who understand the sector and can provide tailored financial advice to our clients.
</blockquote>
Stanbic Bank is cognisant of the environment and encourages merchants through various interactions to adopt sustainable agricultural practices to ensure environmental preservation.
Zimbabwe is Africa’s largest tobacco producer. The annual tobacco-selling season opened in mid-March amid concerns by farmers of a sharp decline in harvest and quality induced by the drought and other weather elements such as El Nino.
Last year farmers produced 296 million kilograms and production is estimated to fall to around 235 million kilograms.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Opens Additional Remote Branches For Tobacco Players

Stanbic Bank has established a financial fitness academy aimed at equipping Small to Medium Enterprises (SMEs) with the requisite skills to handle their finances and grow their businesses.
The financial fitness academy will be an annual event that will equip entrepreneurs with the relevant skills that will see them grow their business while compliant with the financial inclusion requirements in line with the National Financial Inclusion Strategy II, 2022- 2026 (NFIS II).
Stanbic Bank’s Head of Enterprise Banking, Auxilia Kambasha said the financial fitness academy will be in the form of training workshops countrywide through which customers are equipped with financial modelling to assist them in drawing up financial statements and tax compliance requirements, among other administrative and governance procedures. Said Kambasha:
<blockquote>
The overarching goal of the bank is to partner with our clients for growth. We are offering the training so that our clients develop and grow their businesses as they would have been equipped with financial basics that will assist them in making the right decisions.
The financial fitness academy will equip entrepreneurs with relevant skills that are critical and sustainable in achieving the growth of their business while being compliant.
</blockquote>
She said the first series of the training workshops recently kicked off in Gweru, Kwekwe and Chegutu.
Kambasha said that investing in critical skills in the promotion of SMEs will result in ripple effects in the growth of the economy which is the thrust of NFIS II. 
Financial inclusion is on the rise globally and continues to be a key enabler in wealth creation, poverty reduction, and improving the livelihoods of people in low-income groups.
Kambasha said Stanbic Bank is inspired by the quest to bring people and institutions together and maximise their interconnectedness for mutual benefit. She said:
<blockquote>
Stanbic Bank is aware that SMEs play a pivotal role in driving both developing and developed economies, contributing significantly to poverty reduction, employment creation, value addition, and economic resilience.
As Stanbic Bank we believe that developing economies must prioritise financial literacy, access to financial products and supporting frameworks that ensure holistic growth and development. 
</blockquote>
To that end, the Standard Bank Group subsidiary is committed to equipping SMEs with the key growth drivers on the back of the knowledge. 
Key factors that promote inclusion for SMEs include the cost of products and services; the complexity of financial products and services and the treatment received from service providers during the attempted access. Said Kambasha:
<blockquote>
As Stanbic Bank Zimbabwe Enterprise Banking, we are eager to train our customers in financial modelling to assist them in drawing up financial statements and tax compliance requirements, so that every business small or big moves together ushering in an era of development, poverty alleviation and resilience.
Our vision is “to achieve universal access and usage of a broad range of quality and affordable financial services that meet the needs of both individuals and enterprises.
</blockquote>
Kambasha said Stanbic Bank wants to ensure that every segment of Zimbabwean society has access to basic financial services irrespective of social or economic status, gender, or level of education.
She said access to, and usage of a broad range of quality and affordable financial products and services would open up opportunities for better livelihoods.
It provides a platform for low-income populations with the mechanisms to borrow, save and invest, and make payments. Further, it enables them to plan ahead and better manage their finances. Kambasha said:
<blockquote>
Our financial fitness model provides a framework that will lead to the development of a stable, resilient, competitive, and inclusive financial sector that contributes to economic growth and broad-based wealth creation.
</blockquote>
She added that Stanbic Bank understands that it has a role to play and is committed to actively working toward the attainment of enabling growth of SMEs.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Embarks On Financial Fitness Workshops For SMEs

Leading financial services institution, Stanbic Bank has launched an innovative programme aimed at propping up the operations and welfare of small to medium enterprises (SMEs).
Named “Rise Above Incubator Programme”, the initiative will see 15 small to medium entrepreneurs, who have promising ideas and early-stage businesses, undergo a rigorous but rewarding 3-month intensive training and capacitation programme on how to run their operations sustainably and efficiently in Zimbabwe and beyond.
Stanbic Bank Head of Enterprise Banking, Auxilia Kambasha said the programme seeks to support innovative and driven entrepreneurs and unlock their potential to create employment opportunities as well as play a pivotal role in driving economic growth in Zimbabwe.
Kambasha said the term “Rise Above” was coined as a way of encouraging SMEs and the business community at large to excel against the odds. Said Kambasha:
<blockquote>
SMEs are being encouraged to “Rise Above” the pitfalls and challenges they face in their day-to-day operations.
We envisage the programme to give a holistic approach for SMEs to understand how businesses operate and how to run a sustainable business.
Participants will learn the best practices of how to run businesses efficiently over and above financial support.
</blockquote>
She said the programme is targeting to mould early-stage startups that have been in operation for 
no more than four years to become sustainable enterprises through technical training, mentorship 
and access to debt financing.
Entrepreneurs between 18-40 years are eligible for the programme. She said:
This programme is crucial in developing and retooling the skill levels of SME players countrywide given that participants are going to be drawn from throughout the country.
It was mooted in response to the challenges that most SMEs who visit the Stanbic Bank Incubator Hub face in their 
operations.
Ultimately the Programme will see three winners being given access to finance their projects, subject to them meeting the terms and conditions as well as being assigned a relationship manager.
Stanbic Bank Head of Business and Commercial Banking, Patson Mahatchi, said the Rise Above Programme was a testament to the bank’s commitment to drive Zimbabwe’s growth.
Mahatchi said Stanbic is aware that SMEs contribute close to 45% towards the country’s Gross Domestic Product (GDP) hence it is a key economic sector. He said:
<blockquote>
Unfortunately, due to various challenges, most of these businesses fail within their first and second year of operating.
As a bank, we realised that constraints were not solely limited to funding but included capacitation. From that notion, Stanbic Bank came up with the Incubator Hub.
</blockquote>
Stanbic Bank launched the Incubator Hub in 2019 to provide capacitation and support to budding small to medium businesses after realising the existing gap in the running of their operations.
The Incubator Hub offers SMEs a formal working area, a platform for entrepreneurs to meet and network among themselves, as well as rub shoulders with Stanbic Bank executives and other executives aligned to the institution.
Interested participants to the Rise Above Incubator Programme are currently going through an application and selection process which is being done strictly online.
The application period opened last week and closes on 19 March. After 19 March, the applications will be screened for eligibility by two selection committees with the first one rating the online applications and scaling them down to 50 applications.
The second committee will then rate the 50 applications online and take the best-scoring businesses and scale 
them down to 15 who will then undergo the training.
Applications will be screened according to their viability, sustainability, growth potential and scope 
for job creation.
The incubation programme will cover topics such as Business models; Feasibility Analysis; Needs assessment; Legal and Governance and Business financials and will end with a Business Award Ceremony where the three SMEs will be rewarded for their excellence during the three-month programme.
Participants will be equipped to ensure that they deliver value to their customers whilst being profitable enterprises as well as be helped to interrogate if their business model is adaptive to the business environment and if the timing of the business is correct.
The format of this incubation programme will combine workshop format, masterclasses and peer-to-peer collaboration, for the participants to benefit from the most practical trainings and examples and they can also learn best practices from each other.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Launches Innovative Programme To Prop Up Small To Medium Enterprises

Stanbic Bank has donated US$20 000 to the Cancer Association of Zimbabwe (CAZ) towards the purchasing of chemotherapy drugs for its members.
This year is the 10th consecutive year in which the Standard Bank Group subsidiary has assisted with the acquisition of drugs for CAZ as the institution demonstrates that it values not only financial success but the well-being of the communities it serves.
Stanbic Bank Manager, Brand and Advertising, Tariro Memo said the leading financial services institution is privileged to support the CAZ in its relentless fight against cancer. Said Memo:
<blockquote>
Our commitment to this cause goes beyond mere philanthropy; it is a testament to our dedication to the health and welfare of the people of Zimbabwe.
This contribution is a tangible expression of our solidarity with those battling cancer and a reaffirmation of our belief in the importance of healthcare initiatives.
</blockquote>
She said CAZ has been an unwavering force in the face of this formidable challenge, and Stanbic Bank is proud to stand by them as they make a difference in the lives of countless individuals.
Memo emphasized that Stanbic Bank’s support extended beyond financial donations adding that it reflected a shared vision of a healthier, more resilient society hence the 10 years of partnership, collaboration and shared determination with CAZ. Said Memo:
<blockquote>
CAZ’s work is a beacon of hope, and Stanbic is honoured to contribute to its cause. As we hand over these chemotherapy drugs, let it symbolize not just a material donation but a collective commitment to combating and fostering future wellness.
</blockquote>
She noted that Zimbabwean Cancer patients continue to face several challenges such as the breakdown of machinery at public cancer treatment centres, the high cost of medication and cancer services, centralization of cancer services which results in some patients having to travel long distances to visit the treatment centres.
CAZ general manager, Junior Mavu, said the 10-year-long partnership with Stanbic Bank served as a source of inspiration for the association to keep going despite the prevailing harsh operating environment.
Mavu said the donation plays a pivotal role in sustaining the lives of over 150 cancer patients who have undergone up to eight sessions of cancer treatment each with its course of drugs. Said Mavu:
<blockquote>
The Chemo Fund by Stanbic Bank has assisted 151 cancer patients made up of 127 women and 24 men to purchase drugs before and after chemotherapy.
We are proud to be associated with Stanbic Bank and are pleased to have this decade-long journey which has also seen the institution refurbish our Home for Cancer patients at Sally Mugabe Hospital – Tariro Hostel.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Donates US$20 000 To Cancer Association Of Zimbabwe

Stanbic Bank Zimbabwe is rolling out USD Cash Deposit Machines across the country as the financial services institution continues its innovative digitization journey.
The machines allow anyone to deposit cash into a Stanbic Bank account at any time of the day, round the clock, whether it be a working day or a weekend including Sundays.
Stanbic Bank Head of Personal and Private Banking (PPB), Nelson Muhau said the state-of-the-art cash deposit machines can be utilised without a bank representative or teller by simply following the promptings once one starts the process of depositing.
Muhau said the institution is amongst the first in the country to roll out these devices that can take deposits 24/7, 365 days a year. He said:
<blockquote>
The game-changing machines have a variety of benefits, chief among them being 24-hour and 7-day (24/7) access to deposit; safe, fast and effective bulk deposit services with real-time updating of one’s balance, convenience and support through our various 24-hour customer service platforms.
</blockquote>
He said the machines are currently available in the following branches, Harare (Nelson Mandela, Samora Machel Msasa, Belgravia, Borrowdale and Southerton); Bulawayo (JMN Nkomo and Belmont Branches); Gweru and Mutare.
Muhau said the machines will be available 24/7 with the exception of Borrowdale and Belgravia branches where they will only be available during branch operating hours from 0800 hrs to 1500 hrs. He said:
<blockquote>
The machines are designed for pure convenience; our customers will not have to worry about missing the official bank operating hours to make their deposits.
Additionally, they can deposit even on Sunday without any hustle or pressure.
</blockquote>
Stanbic Bank clients no longer need to enter the banking halls as the machines are situated next to ATM machines and the depositing process is self-service, while there will be a security guard in attendance for the protection of depositors.
Muhau said the machines were part of Stanbic’s strategy for innovation underpinned by digitisation.
He said the Standard Bank Group subsidiary adopted a digitisation strategy years ago aimed at staying on the pulse of future technological advancements needs and the cash deposits machines were part of that drive.
Stanbic Bank’s digitization exercise is in line with worldwide technological advancement trends within the financial and non-financial institutions aimed at enhancing ease of banking to its customers.
As part of its digitization strategy, Stanbic Bank launched contactless debit cards and POS machines becoming the first financial services institution to introduce this highly secure innovative technology to the Zimbabwean market.
Apart from the “contactless” debit cards and point-of-sale machines, Stanbic Bank stepped up the functionality of FCAs on its digital banking platforms in addition to launching a technologically advanced application that allows account holders to pay bills and make in-store purchases on their phones using QR code scanning through its SlydePay app.
All these products are part of a well-thought-out digitization strategy that offers convenience to customers and ensures that clients are beneficiaries of quality banking technologies.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Rolls Out Cash Deposit Machines

Stanbic Bank has donated two haemodialysis machines worth US$50 000 to Marondera Hospital, in Mashonaland East Province, easing the burden faced by renal patients within the province.
The handover ceremony, attended by hospital staff and representatives from Stanbic Bank Zimbabwe, emphasized the bank’s commitment to improving healthcare access across the country.
The machines are advanced medical equipment used for blood purification in patients with kidney problems and are set to make a lasting impact on the hospital’s ability to provide life-saving treatments.
The haemodialysis machines will not only improve the quality of life of patients but will see the number of patients receiving treatment increase significantly.
Stanbic Bank Chief Executive (CE), Solomon Nyanhongo said the financial services institution was pleased to play its part in relieving patients and their families from the logistical and financial strains associated with seeking treatment in far-flung areas.
He said the decision to donate Haemodialysis machines came about after a visit by the bank’s officials in September last year to assess the needs of the hospital. Said Nyanhongo:
<blockquote>
Our needs assessment coupled with the passion to serve patients shown by the Marondera Hospital team during the visit in September last year left a lasting impression on us. There was a consensus that we needed to contribute through life-changing equipment, and this saw us settle on buying the haemodialysis machines.
</blockquote>
He said the donation of the hemodialysis machines was born out of a commitment by the Standard Bank Group subsidiary’s quest to drive Zimbabwe and Africa’s growth through a combination of top-level banking offerings and comprehensive Corporate Social Investment (CSI) initiatives.
Nyanhongo said the CSI initiatives span education, the environment and health and sanitation with a particular focus on equipment for public health institutions. He said:
<blockquote>
We are not only committed to offering the best banking products and services but we are fully absorbed in contributing to the well-being of the societies in which we operate.
That commitment saw us launch Ruyamuro-Usizo through which we put our shoulder to the wheel towards supporting national efforts to improve health delivery in the country.
</blockquote>
He said through Ruyamuro-Usizo the Bank in 2021 resuscitated a maternity operating theatre at Sally Mugabe Hospital as well as refurbished the recovery room at a cost of US$67 000.00. Said Nyanhongo:
<blockquote>
In 2021, the first recipient of a Haemodialysis machine worth US15 000 was Gwanda Hospital, in Matabeleland South, as the bank saw it fit to alleviate the plight of patients who faced kidney failure.
Just last year we handed over a Solar Powered Borehole to Mt St Mary’s Hospital in Hwedza as we continue to support the growth and sustainable development of public health services in Zimbabwe through Ruyamuro-Usizo.
</blockquote>
Mashonaland East Acting Provincial Medical Director Dr Michelle Gadzayi applauded Stanbic Bank for its gesture saying it would improve the quality of life for renal patients in the province.
Dr Gadzayi said the Hospital had two functional renal machines and the addition of two more would enable them to attend to more patients from every corner of the province and beyond.
She said currently the hospital attends to 14 patients per week with each patient receiving treatment twice a week and 10 more patients can now be added to the roster. Said Dr Gadzayi:
<blockquote>
We attend to six patients per day but now the number is going to increase to 10 per day.
</blockquote>
Marondera Hospital has been in operation since 1939, catering for nine districts such as Uzumba Maramba Pfungwe (UMP), Nyamapanda, and Chivhu and has a bed capacity of 300 beds.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Donates Two Haemodialysis Machines To Marondera Hospital

Stanbic Bank has been commended for its contribution towards junior cricket development by sponsoring the annual Stragglers Junior Cricket Week.
The Stanbic Bank-sponsored Stragglers Junior Cricket Week roars into life this morning as the financial services institution plays its part in grassroots cricket development.
Stragglers Chairlady, Win Ives said Stanbic’s contribution is imperative to the success of Stragglers Junior Cricket Week.  She said:
<blockquote>
Among many other areas, Stanbic Bank assists greatly in hosting the development sides that join us. It is the one event of the year where 500 young cricketers can showcase their abilities.
</blockquote>
She said this cricket week has been running for over 60 years and applauded Stanbic Bank for being involved for almost half of that period.
During the weeklong event, the budding cricketers from different socio-economic backgrounds rub shoulders in a well-planned cricket experience with youngsters coming from areas as far as Bindura, Shamva and Bulawayo to play limited-overs cricket.
The grade 4 and 5 cricketers play in the morning and the grade 6 and 7s in the afternoon. The players are placed into teams named after cricketing countries – Zimbabwe, West Indies, India, England, Australia, and Sri Lanka to name a few.
Each Country challenges a different country every day during the week in limited overs matches. All cricketers are rotated and every player has a chance to bat and bowl. Certificates are awarded to high-achieving cricketers.
Ives said while this successful model remains, it is fine-tuned every year to ensure its smooth running. She said:
<blockquote>
Every year we have budding cricketers who are successful in their school cricketing careers and endeavour to go further after school.
While we do not keep track of all of them, it is always exciting to see some familiar names in the senior school age groups and at national level.
</blockquote>

She said Stragglers exposes the development sides to all levels of talent and gives them the opportunity to play the game with sides they would not normally play against.
Ives said Stragglers Junior Cricket Week was designed to share the passion and the love of the cricket game adding that this is achieved annually as the young cricketers leave the week wanting to play more and having established firm friendships around the game. Said Ives:
<blockquote>
Every year, Stragglers Junior Cricket Week showcases a huge amount of talent and passion, which we feel is essential for the survival and future of cricket in Zimbabwe.
The demographics of Stragglers Junior Cricket Week are very broad and lifetime friendships are created during the week thanks to this wonderful game of cricket and of course Stanbic Bank.
</blockquote>
Stanbic Bank Acting Head, Brand and Marketing, Tariro Memo said they are committed to playing its part in shaping the future of cricket in the country through the programme.
She said the beauty about Stragglers Junior Cricket week is that the players get to play as many as five games throughout the week as well as getting to bat and bowl, shaping the young ones into all-round players.
The junior cricketers are exposed to high-level cricket under the guidance of some of the country’s top coaches as well as some members of the Chevrons who come to give some cricketing tips.
Stragglers Junior Cricket Week takes place every August during School holidays at Hartmann House and St George’s College as a way of allowing the young players to let off steam after a demanding second school term.
Stanbic’s CSI initiatives span education, environment and sanitation as well as education.
In sports, Stanbic Bank has assisted national hockey and tennis teams in participating in key tournaments.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Commended For Promoting Junior Cricket Development

Stanbic Bank Zimbabwe has facilitated life-changing surgical operations for 15 children living with correctible disabilities through a US$22 500 grant as part of its commitment to offer affordable quality health care to Zimbabweans.
The grant was given to Cure Children’s Hospital of Zimbabwe (CCHOZ), which is the only healthcare organisation that offers free paediatric surgical interventions for children between the ages of 0-18 with treatable disabilities.
CURE Zimbabwe is a Christian non-profit making organisation that opened its doors in 2021 and, so far, has been a place of hope and healing for over 1700 children living with treatable disabilities.
It operates a global network of children’s hospitals pairing world-class surgical and spiritual care to serve children with treatable disabilities and their families regardless of their economic status, ethnicity, religious background, or gender.
CURE Zimbabwe engages partners such as Stanbic Bank to fund surgical operations for treatable disabilities such as bowed legs, knock knees, clubfoot, brittle bones, windswept, neglected trauma, and burn contractures.
The 15 children who underwent the surgeries last week include boys and girls who had lost all hope of ever healing or recovering from their conditions.
One of the children had been wheelchair-bound since birth and suffering from crouch gait – an abnormal walking condition characterised by the upward bending of the ankles (ankle dorsiflexion); bent knees (knee flexion), and bent hips (hip flexion) – is now on his way to full recovery and walking properly after Stanbic bank’s intervention.
Stanbic Bank Chief Executive (CE), Solomon Nyanhongo, speaking at the official signing ceremony, said the financial services institution derived deep satisfaction from changing the fortunes of the 15 children whose lives would normally have been problematic due to the nurture of their disabilities.
Speaking shortly after visiting the 15 children who were recovering at CURE Zimbabwe Hospital wards, Nyanhongo said the surgical and spiritual care offered by CURE Zimbabwe resonated with Stanbic Bank’s quest to not only drive Africa and, in particular, Zimbabwe’s growth but make a difference within the communities in which it operates. He said:
<blockquote>
Our tour of the wards has been an eye-opener for the Stanbic Bank staff. This life-changing and transformational work CURE Zimbabwe is doing is astonishing.
To see someone come in literally unable to do anything and leave full of life and hope through surgical operations gives us satisfaction that we are indeed contributing to the welfare of the members of the community in which we operate.
</blockquote>
He said such transformation for the beneficiaries was a source of inspiration for the Standard Bank Group subsidiary, whose well-thought-out Corporate Social Investment (CSI) initiatives included propping up health care delivery, provision of education, water, sanitation, and looking after the environment.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Helps 15 Children With Disabilities Undergo Life-changing Surgery

Stanbic Bank has developed a deceased estate chatbot that can be accessed via WhatsApp and on the Stanbic Bank website in its quest to support the surviving family members of deceased clients.
The Chatbot was carefully designed to provide information on frequently asked questions regarding the handling of deceased estates.
Stanbic Bank Head Legal &amp; Governance and Company Secretary, Advocate Neeta Joshi, said the Chatbot was established in line with how the institution placed value on the essence of being truly human in dealing with its clients and members of the public.
Joshi said the Chatbot will address all pressing and frequently asked questions relating to the deceased’s account. Said Joshi:
<blockquote>
The provision of information on this platform aims to provide support to the deceased client’s family members and illustrate a guided flow chart of how they can finalize their deceased loved one’s estate.
Additionally, the Chatbot will bring convenience to clients/ deceased client’s relatives at the click of a button on any questions they may have on the Bank’s processes in the handling of deceased estates.
</blockquote>
The service is available on WhatsApp number +263 731 360 360 and option 8 on the services provided by the Bank’s Chatbot.
Further options are provided to address any specific questions relating to the handling of a deceased’s account.
She said the move to assist clients to wind up the estates of their deceased loved ones also comes out of Stanbic’s realization that surviving family members often face challenges in collating all the information required by the Bank and by the Master/Assistant Master of the High Court owing to the burden of bereavement and related pressures. Said Joshi:
<blockquote>
As a financial services provider the Bank receives deceased estates enquiries and requests for information from the respective executors in the branch network as part of the deceased estate winding-up process.
</blockquote>
The Chatbot allows Stanbic Bank to play a vital role in rendering support to the surviving family members of the deceased client by providing information on the Bank’s requirements to facilitate access to funds from the deceased’s client’s account and subsequent closure of the relevant account.
The Chatbot is also part of the Standard Bank Group subsidiary’s quest to promote financial inclusion and improve customer experience.
Some of the common deceased estate challenges include claims that a dependent has not been properly provided for under the Will; a dispute arises with respect to the care of children; beneficiaries feel the Executor’s or Administrator’s fees are too high or not appropriate; a dispute arises over the sale of property or personal assets’ a creditor alleges that a disputed debt is owed to them and that someone refuses to turn over an asset belonging to the estate.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Develops WhatsApp Deceased Estate Chatbot

Nyarutombo Primary School in Mt Darwin, Mbire District, Mashonaland Central Province, has now been designated a Zimbabwe Schools Examination Centre (ZIMSEC) thanks to the construction of a classroom block, toilets and a borehole by Stanbic Bank Zimbabwe.
The construction of the block with two classrooms changed the face of the educational institution which was previously avoided by parents from nearby areas who opted to have their children walk long distances to attend examination registered schools.
Nyarutombo Primary School, some 230 km north-west of Harare, is a Methodist Church of Zimbabwe (MCZ) institution and has seen its fortunes change following the facelift by Stanbic Bank.
Run under the auspices of the MCZ’s Methodist Development and Relief Agency (MeDRA) the school now has a solarized borehole and a 10 000-litre tank ensuring the pupils have clean water all year round.
MeDRA acting National Director Tariro Washaya said the facelift by Stanbic Bank raised the profile of the school and has driven growth in the institution’s pass rate over the last two years.
The classroom block and toilets were constructed in 2019 and began functioning in December 2020. Stanbic Bank also managed to furnish the classrooms with desks and chairs.
Washaya said the fruits of Stanbic Bank’s work started manifesting in the first quarter of 2021 when the institution was inundated with applications for enrolment while the process for the school to be a recognized as a ZIMSEC centre took effect. Said Washaya:
<blockquote>
The story of Nyarutombo Primary School is a typical rags-to-riches story in many ways and the transformation of this school is all thanks to Stanbic Bank.
The school had a low enrollment because there were no classrooms. It was a satellite school whose pass rate was very low.
I am proud to say that the pass rate has since improved significantly and the school is now an exam centre.
</blockquote>
She said the biggest beneficiaries of the facelift by Stanbic Bank were grade 7 pupils who previously had to travel long distances during examinations, oftentimes sleeping at the schools which were registered for ZIMSEC during the examination days. Added Washaya:
From the school’s inception in 2011, till Stanbic Bank intervened, the institution has been well below the radar of any key stakeholder in the community, but its profile has just shot up and we understand some reputable headmasters now want to preside over the running of the school.
Stanbic Bank Acting Head Brand and Marketing, Tariro Memo said the leading financial services institution was pleased to have played its part in uplifting the lives and fortunes of the pupils, the community and its environs. She said:
<blockquote>
Stanbic Bank has well thought out Corporate Social Investment (CSI) initiatives whose key attribute is premised on changing the lives of its beneficiaries in a sustainable way.
Education is one of the pillars under this initiative and the plight of the students moved Stanbic Bank to construct the classroom block, toilets, provide furniture, borehole and water tank.
</blockquote>
She said that it was heartening to note that the pass rate for the school had improved.
The relationship between Stanbic Bank and Nyarutombo began when the financial services institution went to donate mosquito repellent material in 2018.
The visit was an eye-opener as it exposed the bank’s executives to the state of the school.
The pupils attended classes in run-down grass-thatched classrooms and had no safe ablution facilities.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Rural School Upgraded To ZIMSEC Exams Centre After Facelift By Stanbic Bank

Stanbic Bank donated 1 600 reusable sanitary pads and 800 undergarments to 400 girls at Nyava Secondary School in Mashambanhaka, Shamva District over the weekend.
Each of the 400 girls got a packet consisting of four reusable sanitary pads and two undergarments as Stanbic Bank consolidated its longstanding partnership with Talia Women’s Network in its quest to look after the needs of the girl child.
The 400 girls, from forms one to Upper Six, not only received reusable sanitary pads and undergarments but were also given invaluable information on how to look after the pads as well as hygiene issues from representatives of Talia Women’s Network.
Stanbic Bank Acting Head of Brand and Marketing, Tariro Memo said menstruation and access to sanitary pads was one of the biggest challenges faced by girls particularly in the rural areas and those who were financially disadvantaged.
To that end, Stanbic Bank made a deliberate decision to play its part in alleviating the plight of the underprivileged girl child in not only accessing sanitary pads but in their educational welfare as well. Said Memo:
<blockquote>
Stanbic Bank has comprehensive Corporate Social Investment (CSI) initiatives some of which are carefully designed to cater for the needs of the girl child through educational scholarships and, as in today’s case, support for menstrual health challenges.
</blockquote>
She said Stanbic’s support stemmed from the knowledge that young girls often missed school during their menstrual cycle due to lack of access to sanitary wear hence the institution moved in to ensure that the beneficiaries attended school all year round.
Memo noted that even when some girls braved the lack of pads and used alternatives, they still had considerable difficulty in going about their lives due to both practical reasons and the stigma frequently attached.
Last year Stanbic Bank donated 775 sanitary pads to girls from primary and secondary schools around the country while in 2018 the institution’s female employees voluntarily raised 900 disposable pads for the girl child in commemoration of International Women’s Day.
Stanbic Bank complimented the gesture by the women and added 2500 reusable sanitary pads.
Talia Women’s Network Director, Saliwe Zakariya said it is important to take note of the fact that menstruation affects everyone including boys and men.
Zakariya said to that end boys and men need to be acquainted with challenges the girl child and women at large face during their periods to support them.
Zakariya took the girls through a question-and-answer session shedding light on the transition into puberty and signs to be aware of when one is about to start their periods. She said:
<blockquote>
The most important aspect of menstruation is attention to detail regarding hygiene. It is important to bath twice a day especially when one is on their period.
</blockquote>

Stanbic Bank Donates Reusable Sanitary Pads To 400 Schoolgirls In Shamva

Stanbic Bank has called on mining stakeholders to work together to unlock the full potential of the sector and its value chain.
The Standard Bank Group Subsidiary’s Chief Executive (CE), Solomon Nyanhongo said the mining sector has the potential to drive sustainable growth and development across Africa and beyond especially if key stakeholders all work together towards achieving this goal.
Nyanhongo told participants at the just-ended Chamber of Mines Conference that Stanbic Bank is on hand to contribute towards this goal through its regional and international partnerships which give it an edge in the industry. Said Nyanhongo:
<blockquote>
Stanbic has dedicated and experienced relationship managers whose sole purpose is to ensure our clients receive all the necessary support.
The bank also leverages the support of a specialised Mining &amp; Metals desk at Standard Bank Group level which helps us to efficiently assess running mining projects and offer specialised advice where required.
Several mining houses have leveraged off facilities which has allowed them to purchase new equipment and refurbish existing plants.
Stanbic Bank has extended its services to assist clients with the understanding of various exchange control and legislative requirements as changes take place.
The Bank has developed customized financial literacy sessions that speak directly to the mining sector and its operations ensuring total compliance for their clients.
He said Stanbic Bank has adopted an intentional growth strategy for the mining industry for the past 30 years as it plays a pivotal role in boosting the sector in line with National Targets.
To that end, the leading financial services institution commands a 40% market share in the mining sector. 
</blockquote>
Nyanhongo said Stanbic Bank understands the vital role that mining plays in Zimbabwe’s economy and is proud and committed to supporting this industry through its banking services and financial expertise. He said:
<blockquote>
It is imperative to utilise and maximise on platforms such as the Conference and its unique opportunity to come together, share insights and experiences, and collaborate on solutions to the challenges facing our sector and hopefully forge new partnerships.
</blockquote>
The attendance by Standard Bank Group representatives – Mark Buncombe, Global Head Mining, and Sean Evans, Mining Executive – Platinum and Diamonds, demonstrated Stanbic’s commitment and involvement with the Chamber of Mines.
Recent statistics show that Zimbabwe’s Mineral Exports topped US$5,6 Billion in 2022 compared to 2.7 billion in 2017 a 100% growth within a space of 5 years.
Nyanhongo said such a growth rate was commendable given the time mining projects take to reach the full production stage adding that more could be achieved with concerted efforts from all stakeholders.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Stanbic Bank Calls For Unity Of Purpose In Mining

<div>
<div>Stanbic Bank has set up nine remote branches at tobacco <a href="https://www.pindula.co.zw/Tobacco_Industry_Marketing_Board">auction floors throughout the country</a> to enable ease of access to funds for tobacco farmers during the tobacco selling season due to kick off this month.</div>
</div>
<div>
The implants, as the branches are termed, are geared to serve the banking needs of tobacco farmers countrywide following the decentralization of tobacco auction floors due to the COVID 19 pandemic.
Stanbic Bank’s Executive Director for Corporate and Investment Banking (CIB), Betty Murambadoro, said the institution responded to the clarion call by its corporate customers to open implants in areas where there is <a href="https://zero.pindula.co.zw/tobacco-farmers-to-retain-60-per-cent-forex-earnings/">high concentration of farmers for ease of transacting.</a>
The implants constructed in partnership with some of the bank’s tobacco clients are located at selected Zimbabwe Leaf Tobacco (ZLT), Mashonaland Tobacco Company (MTC) and Boostafrica (Boost) branches in Karoi, Rusape, Mvurwi, Marondera and Harare, all of which are set to be operational by the beginning of the tobacco selling season. Said Murambadoro:
<blockquote>The implants are seasonal and are set to go a long way in improving operational efficiencies as the country grapples with the relentless COVID 19 which has led to the decentralization of tobacco auction floors.</blockquote>
She said the setting up of the implants at customers’ strategic sites is in line with Stanbic Bank’s distribution strategy and vision which seeks to help its customers perform everyday transactions at a convenient time and place.
Stanbic Bank is the biggest financial investment player in Zimbabwe’s tobacco industry with “USD405m offshore and USD20m onshore tobacco facilities currently being enjoyed by the main tobacco merchants and primary producers linked to the major tobacco merchants and their value chains. Tobacco production is a key component of the agricultural sector in Zimbabwe and contributes 12% of the GDP,” as contextualized by Murambadoro.
Speaking on the matter, the bank’s Head of Personal and Business Banking (PBB), Patson Mahatchi, expressed how they are committed to providing value-added services for their clients by implementing solutions that drive the flawless continuation of their business, making Customer Centricity a key strategy in this initiative. Said Mahatchi:
<blockquote>All the farmers will be registered on our digital banking channels after they open tobacco farmers accounts with the bank at these different locations. The accounts are tailored to cater for the specific needs of tobacco farmers. Plans are also underway to ensure that ATMs dispensing USD and ZWL be made available at the implants to increase ease of access to cash for the farmers by the next tobacco season.</blockquote>
He added that it is also the bank’s obligation to help with minimizing transport costs where possible, and encouraging social distancing by reducing overcrowding during the pandemic through the commissioning of these implants.
Tobacco is a strategic export crop in Zimbabwe which generates foreign currency earnings in excess of USD900 million annually.
</div>

STANBIC Sets Up Remote Branches For Tobacco Season

In a virtual signing event symbolic of the technologically powered new normal, Standard Bank, the parent company of leading financial services institution, Stanbic Bank Zimbabwe, has unveiled an extended agreement with global customer engagement expert Salesforce to deliver positive digital experiences to its clients.
Standard Bank Group Chief Executive, Sim Tshabalala, said the collaboration with Salesforce – together with the complementary cloud capabilities of Microsoft and Amazon Web Services – will power the Standard Bank Group Digital Platform. Said Tshabalala:
<blockquote>Our extended agreement with Salesforce is a major step towards transforming the Standard Bank Group into a client-centred platform business that delivers a range of individualized, instantly available solutions, services and opportunities, enabled by modern digital technologies and delivered in whatever way a client prefers. Our goal is to use our data capabilities to build deeper, better and more enduring relationships with our clients.</blockquote>
He explained that this expanded range of services will be provided directly by Standard Bank Group across its markets, but also in partnerships with others through the networks of relationships known as ecosystems.
The Standard Bank Group platform will be at the centre of the ecosystem that provides services and solutions to support life and business events to its clients.
The capabilities of Salesforce will enable Standard Bank Group to build partnerships with vendors and service providers to co-create customized solutions for its clients.
They will also enable the group’s clients to use the Standard Bank Group platform to create solutions for themselves, and to do so in partnership with the group and its service providers and vendors.

Standard Bank Group Collaborates With Salesforce Towards Becoming A Platform Business

Stanbic Bank Zimbabwe has announced that it will be closing two of its branches, Chitungwiza and Beitbridge effective March 31, 2020, to pave way for a digitisation strategy.
The intended closure was announced by Stanbic Bank chief executive, Mr Joshua Tapambgwa, who told the Chronicle that the digitisation strategy would leave the financial player with a physical footprint of 17 branches across the country. He said:
<blockquote>The model we are following has been adopted by many financial and non-financial institutions in other parts of the world but very few in Southern Africa.
The new banking technologies we are introducing continue to bring ease ofbanking to our customers, which gives us the confidence to move to the next level of banking.</blockquote>
He added that customer accounts which are being maintained at these two branches will be safely migrated to Southerton and Bulawayo Joshua Nkomo Street branches, with the option of visiting any one of their 17 branches should they need service from physical branch facilities.
Tapambgwa also highlighted that all the staff members currently working in these two branches will be redeployed to other departments of the bank, which are driving the digital bank strategy.
More: <a href="https://www.chronicle.co.zw/stanbic-to-close-two-branches/">The Chronicle</a>

Stanbic Bank Zimbabwe Closing 2 Branches In March

STANBIC Bank Limited reportedly paid in advance an allowance of ZWL$1 000 to its employees last week as a way of preventing a strike.
This comes at a time when workers from other banks are protesting over paltry salaries. Last week, Agribank workers reportedly demonstrated over salaries whilst <a href="https://news.pindula.co.zw/2019/07/17/first-capital-bank-workers-in-evening-strike-over-insignificant-salaries/">First Capital workers staged</a> an evening protest yesterday over the same issue. 
The unrelenting economic crisis characterised by the soaring inflation has resulted in an increased cost of living for everyone including workers across industries.
The News Day reports that Stanbic workers at both the Bank’s Jason Moyo branch in Bulawayo and Nelson Mandela branch in Harare had last week planned to camp in the banking halls as a protest over poor salaries.
Speaking to News Day, Zimbabwe Banks and Allied Workers’ Union (Zibawu) secretary-general Shepherd Ngandu said:
<blockquote>We have been advised that they were paid an allowance, which is an advance payment to be deducted from the July payday, just to cushion the staff. Salary 
adjustments will be discussed in the next works council.</blockquote>
The Bank confirmed the development noting that the economic situation and its impact on the general population, including its employees was a reality. Responding to News Day questions through an email, the bank said:
<blockquote>As such, the bank is currently working on sustainable solutions to cushion our employees against the prevailing challenges. During this process, the leadership continues to engage with employees on the same.</blockquote>
More: <a href="https://www.newsday.co.zw/2019/07/stanbic-bank-pays-workers-advance-wage-to-avert-strike/" rel="noopener noreferrer" target="_blank">News Day</a>

STANBIC Bank Pays Workers Allowances In Advance To Avoid A Strike

Bank workers have bemoaned the erosion of their salaries and have, as a result, declared incapacitation. A letter dated 20 June 2019 and written by STANBIC workers to their management reveals the shocking state of affairs obtaining with bank employees.
Reports indicate that the problem has affected workers at most of the banks. Earlier, we reported that POSB workers also wrote a similar letter to their management.
Below is the full text of the letter written by STANBIC employees.
<blockquote>
Dear Mr Greg Sebbon REF: ECONOMIC SITUATION AND IMPLICATIONS TO STANBIC BANK STAFF 
We write to advise of the dire situation that your workers are in. You are fully aware of the economic crisis we are in. Most of the employees are now unable to buy food enough for a week from their salaries let alone paying rentals and rates risking possibility of evictions. The majority are failing not only to meet committed school fees payment plans for their children, but the situation is being further worsened by the top-up requests in foreign currency. Other basic necessities are now beyond the reach of many. 
In addition, the majority are no longer able to pay for transport to and from work. Those able are not able to buy lunch and in most days work without eating anything. The majority of the families of your workers are now living on one meal a day. This situation is now unbearable. We therefore advise that from now Stanbic Bank workers will report for duty as and when they have transport Ores and or breakfast and lunch. Alternatively, most of your workers will start sleeping and staying at the workplace from Mondays to Saturdays in order not to abscond from work. We hope you find this is order. Please note that this is not a collector job action but a measured response to the challenges your workers are facing.</blockquote>
<img decoding="async" src="https://pbs.twimg.com/media/D9iDgG-WwAsepA7.jpg:large"/>

FULL TEXT: "Bank Workers To Report For Duty As & When They Have Transport Fares"

Some workers staged a peaceful protest outside Stanbic Bank in Harare following the the firing of Workers’ Committee chairperson, Verity Mutsamwira, who had informed management about workers’ grievances. They were joined by some members of the Zimbabwe Bankers and Allied Workers’ Union. Watch the video below:
https://twitter.com/ruruemawere/status/905782415435628545

Video: Stanbic Bank workers protest against colleague's firing

Stanbic Bank Zimbabwe manager Tariro Nyazema is in court for swapping bond notes for US dollars after she was caught last week by security personnel of one of the bank’s clients with an amount of US$30 000.
Mrs Nyazema allegedly instructed her colleagues at the branch to exchange her bond notes to US dollars that the branch had received from the bank’s cash depot for tobacco farmers. The Herald reports that Nyazema had a group of “money changers”at Roadport whom she supplies with US dollars from Stanbic in exchange for bond notes. Investigations by the publication also showed that the money changers work with employees from most banks to access US dollars in exchange for bond notes, which they exchange at a premium of between 10-25 percent.
Stanbic chief executive Joshua Tapambgwa was said to be out of office when contacted by The Herald for a comment. Nyazema was initially said to have been transferred but was suspended after pressure from authorities.
More: <a href="http://www.herald.co.zw/stanbic-staffer-in-illicit-currency-dealing/">Herald </a>

Stanbic employee "suspended" for exchanging bond notes to US dollars

Stanbic Bank Zimbabwe made a profit of $21,2 in 2016. This was an 11 percent drop in profit after tax from $23,9 million in 2015.
Income from fees and commission dropped seven percent from $36,1 million in 2015 to $33,5 million last year due to market-wide cash shortages as well as a bank charge reduction ordered by the central bank.
More: <a href="http://www.newzimbabwe.com/business-35509-Stanbic+profit+falls+11pct+to+$21m/business.aspx">New Zimbabwe</a>

Stanbic makes profit of $21 million despite 11 percent drop

Stanbic Bank Zimbabwe Limited has advised clients that it would not be changing its terms and conditions as previously advised on the first of November 2016.
In a statement, Stanbic said:
<blockquote>We refer to our correspondence of November 1, 2016 to our clients concerning our updated terms and conditions. Given the feedback that we have received from our clients and the general public, it is clear to us that our intentions have been misunderstood. As a result of this misunderstanding, we hereby advise that you should disregard these updates and the existing terms and conditions remain effective.</blockquote>
More: <a href="http://www.herald.co.zw/stanbic-bank-not-to-change-its-terms/">Herald</a>

Stanbic Bank reverses decision to change terms and conditions

Aaron Rashama, a Stanbic Bank chief teller, accused of swindling his employer of $165 389, yesterday appeared before provincial magistrate, Elijah Makomo, facing charges of theft of trust property.
He pleaded not guilty to the offence through his lawyer, John Ndomene. The bank is being represented by the head of financial control, Continue Mudekwa. Allegations against the suspect are that on January 18 this year, he received and signed for $245 060 and $14 173,75 from the bank’s vault and canister, respectively. The figures were also reflected in his cash register and computer system.
The State alleges Rashama stole $164 389 and converted it to his own use and in a bid to cover up the offence, he concealed $1 notes among $100, $50 and $20 notes giving the impression that the bundles were of higher denominations. The alleged offence came to light on May 24, when Rashama reported for work and immediately left his workplace without permission from his manager, Joyce Mhlanga.
More: <a href="https://www.newsday.co.zw/2016/10/21/stanbic-chief-teller-trial-160-000-theft/">NewsDay</a>

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