Stanbic Bank has recently launched three new remote branches in Harare and Karoi, demonstrating its dedication to offering real-time value and banking solutions to tobacco stakeholders during the ongoing selling season, which commenced in mid-March.
In an effort to improve banking accessibility for farmers, the financial institution has now opened 15 locations in total during the last three years with the addition of these three branches.
A major player in Zimbabwe’s tobacco business, Stanbic Bank Group is a member of the Standard Bank Group and offers crucial financial services and support to a range of players involved in the production, processing, and marketing of tobacco.
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As part of its objective to provide exceptional customer experiences and superior value, Stanbic is committed to offering value to tobacco producers, carriers, and value chain participants, as highlighted by Nelson Muhau, Head of Personal and Private Banking.
In order to maintain the promise made to farmers, Muhau emphasised the significance of adding three more branches, bringing banking services closer to the regions of production.
By providing tailored financial services and products and actively interacting with value chain partners, Stanbic Bank significantly contributes to the viability and growth of Zimbabwe’s agricultural sector, raising farmers’ standards of living in the process.
Head of Agriculture at Stanbic Bank Tawanda Maposah emphasised the bank’s unparalleled dedication to the tobacco industry, stating that it has given tobacco merchants and primary producers linked to significant tobacco merchants and their value chains USD 535 million.
Stanbic Bank is committed to continuing to support the industry using sustainable techniques, given that over 105,000 tobacco producers and contract farming account for over 95% of the production. The bank recognises the essential role that agriculture plays in Zimbabwe’s economy.
