Stanbic Bank deepens mining sector partnership

STAFF WRITER

Stanbic Bank Zimbabwe continues to demonstrate its commitment to uplifting the mining sector in Zimbabwe.

The leading financial services institution’s Chief Executive (CE), Solomon Nyanhongo, told delegates at the just ended Chamber of Mines conference that Stanbic Bank remains deeply committed to supporting Zimbabwe’s mining sector, which continues to play a critical role in driving economic growth, foreign currency generation, and national development.

“Over the past year, Stanbic Bank has significantly strengthened its financial support to the mining sector. In 2025 alone, we extended credit facilities to this critical sector amounting to a total of US$227 million,” said Nyanhongo.

These investments reflect Stanbic Bank’s strong confidence in the resilience and long-term potential of Zimbabwe’s mining industry.

“Our contribution goes beyond financial capital. We continue to provide advisory services, structured solutions, and tailored support across the mining value chain, enabling both large-scale and emerging operators to unlock value, improve efficiencies, and expand sustainably,” said Nyanhongo.

He said the Standard Bank Group subsidiary deeply values its relationship with the Chamber of Mines, which dates back to 2005, meaning over two decades of collaboration.

Over these years, Stanbic Bank has worked closely with the Chamber on key industry engagements, policy dialogue, and initiatives aimed at strengthening the mining sector.

Nyanhongo said this long-standing partnership is anchored on shared goals of sustainability, growth, and value creation for Zimbabwe.

He said Stanbic Bank’s key differentiator lay in its integration within the Standard Bank Group (the largest banking group in Africa) and its strategic alliance with the Industrial and Commercial Bank of China (ICBC), the world’s largest bank by assets.

“This unique positioning enables Stanbic Bank to connect Zimbabwe’s mining sector to global capital, international markets, and technical expertise. It allows us to deliver not only funding, but end-to-end solutions that span advisory, infrastructure financing, and cross-border trade facilitation, unlocking opportunities that extend beyond the domestic market,” he said.

This was demonstrated by the high-powered delegation from Standard Bank Group at the conference which included; Bridget Liu: The Senior Vice President, Mining & Metals China; Sean Evans: The Executive Vice President, Mining & Metals; Jessica Cao: Head of Client Coverage, China; and Nana Asare: Head of Structured Products, Africa Regions.

Through these alliances, Stanbic bank enables investment flows into the Zimbabwe thereby positioning the country as an attractive destination for mining investment. This is supported by a highly experienced Exchange Control team, which helps its clients to comply with the country’s exchange control regulations.

He said looking ahead, Stanbic Bank remain focused on continuing to support the mining sector with innovative financial solutions, strengthening strategic partnerships, and contributing meaningfully to Zimbabwe’s growth agenda.

“In closing, allow me to reaffirm Stanbic Bank’s commitment, we are not just financiers, but long-term partners in the journey towards growth, resilience, and shared prosperity,” said Nyanhongo.