Stanbic Bank opens 17th branch in Masvingo
STAFF WRITER
Stanbic Bank Zimbabwe has opened a branch in Masvingo as the financial services institution spreads its wings throughout the country.
The opening of the Masvingo Branch comes hard on the heels of the Chiredzi branch opened in September bringing the total branch network to 17 in Zimbabwe.
Stanbic Head Personal and Private Banking, Nelson Muhau said the opening of the Masvingo and Chiredzi branches is aimed at making banking easy and accessible for its customers countrywide.
Muhau said the Masvingo branch was designed in keeping with a new customer- centric concept designed to create an experience that prioritizes convenience, personalised service, and engagement for customers.
“Both Masvingo and Chiredzi branches cater for personal and business customers. Other services offered include a round-the-clock ATM for both withdrawals for Stanbic Visa, Mastercard and Zimswitch enabled cards as well as for deposits,” said Muhau adding that MoneyGram services have a dedicated area within the branch.
Fresh from being named the Best Bank in Zimbabwe, the Standard Bank Group subsidiary has other branches in Harare, Gweru, Kwekwe, Mutare, Chegutu, Ngezi, Victoria Falls, Hwange, Chiredzi and Beitbridge with a total of 51 ATMs and 17 Bulk cash deposit machines.
Muhau said in addition to the conventional simple transactions, the branches will offer personalised financial advice, support and advisory services for loans or investments.
“The opening of the Masvingo branch demonstrates that the Stanbic Bank Zimbabwe brand is growing as we venture into these untapped geographic areas, a situation which helps us reach a wider target market and enhance market share,” said Muhau.
He said the opening of the Masvingo and Chiredzi branches was crucial as it provided convenience for clients who prefer in-person interactions even while using mobile or online banking for daily tasks.
In addition to conventional branches, Stanbic Bank has been opening several “tobacco implants,” which are remote bank branches in key tobacco-growing regions of Zimbabwe to provide financial services to farmers during the tobacco selling season.
These remote branches are part of the bank’s commitment to supporting Zimbabwe’s crucial tobacco industry, a major source of foreign currency earnings.
The implants bring banking facilities, financial services, and support closer to the farmers in production areas, minimizing transport costs and offering convenience.
Through the implants, Stanbic offers services such as opening specialized tobacco farmers’ accounts, registering clients on digital banking channels, and providing access to USD and ZWG cash withdrawals at these locations.
Stanbic Bank is a major financial player in the sector, providing significant funding to merchants and producers within the tobacco value chain.
The institution now has 15 facilities set up over the last three years as it seeks to offer real-time value and banking convenience to players in the sector involved in the production, processing and marketing of the crop.