Stanbic Bank shows commitment to empowering small businesses
BUSINESS REPORTER
Stanbic Bank has positioned itself as a leader in the Small to Medium Enterprises (SMEs) space through its suite of purpose-built solutions, including the Africa China Trade Agent Proposition, which connects businesses with trusted suppliers in China while mitigating trade risks.
This commitment to empowering Zimbabwean entrepreneurs has earned Stanbic Bank recognition as the Best Pan-African Bank for SMEs at the EMEA Finance African Banking Awards 2024.
The Bank has also won various awards last year including the ZNCC Financial institution supporting MSMEs Award – National Winner, Overall winner SME Financial services award from SME Service excellence awards in Zimbabwe 2024.
“We are dedicated to supporting and leveraging the power of the country’s SME sector and understand that entrepreneurs don’t just need a bank-they need a financial partner that evolves alongside them. We share our ambitions to fuel growth on the continent by unlocking opportunities and providing enabling solutions which are built with real business realities in mind, addressing the critical challenges SMEs face daily,” said Patson Mahatchi, Head of Business and Commercial Banking.
The EMEA Finance awards highlight institutions that deliver excellence despite challenging macroeconomic conditions, with a particular focus on innovation in digital services and commitment to supporting economic development.
Earlier this year Stanbic Bank in partnership with The European Investment Bank (EIB Global) launched a €20 million credit line, to provide longer-term loans at favourable conditions to small and medium-sized businesses (SMEs) in Zimbabwe.
Looking ahead, Stanbic Bank continues to focus on expanding financial inclusion for underserved entrepreneurs and developing Al-powered business insights to help SMEs make informed decisions in an increasingly competitive landscape.
Small and medium enterprises across Africa continue to drive economic growth and innovation despite facing significant challenges which require financial institutions to develop tailored approaches that address the unique needs of entrepreneurs at various stages of growth.
From affordable banking options for startups to integrated payment solutions for expanding businesses, SMEs need partners who understand their specific requirements.
Stanbic Bank established the Incubator Hub, which nurtures entrepreneurship by providing a collaborative space and structured programs to support SME growth.
Additionally, Stanbic’s Employee Value Banking, Digital Banking, Insurance, and Financial Planning solutions offer tailored financial services that empower individuals and businesses to thrive in Zimbabwe’s evolving economic landscape.
The institution’s Relationship Managers have a detailed understanding of the value of partnership on the journey of entrepreneurship, and hence establish deep, personal connections with clients by understanding their business models and growth trajectories and providing tailored support to their ambitions.