STANBIC Bank Zimbabwe has reaffirmed its commitment to grow small-to-medium enterprises (SMEs)by providing necessary financial resources to the sector.
The commitement was made at the 7th Sadc Industrialisation Week which ran from July 28 to August 2 in Harare.
The event was a precursor to the 44th Ordinary Summit of Sadc Heads of State and Government, scheduled for August 17.
Speaking during the industrialisation week, Stanbic Business and Commercial Services head Patson Mahatchi said the theme of the event, Promoting innovation to unlock opportunities for sustained economic growth and development towards an industrialised Sadc, resonated with the bank.
“SMEs are vital to our economy. They create jobs, foster innovation, and drive economic growth,” Mahatchi said.
“At Stanbic Bank Zimbabwe, we are dedicated to providing the necessary financial support and resources to help these enterprises succeed. Our mission is clear: Zimbabwe is our home, and we drive her growth.”
Mahatchi told delegates who attended the industrialisation week that the bank understood that SMEs were the country’s engine for growth.
He said the bank’s mission statement was reflected in the tailor-made financial services and products the bank offered to SMEs, enabling them to thrive and contribute to the country’s economic development.
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Mahatchi added that Stanbic had a full-fledged unit that strictly attended to SMEs to foster their growth and development through innovative and well thought out strategies.
Just last month, Stanbic was named National Winner for supporting micro, SMEs in the country by the Zimbabwe National Chamber of Commerce, having won the regional award a few months earlier.
The bank was rewarded for implementing carefully structured measures that promote the formalisation of SMEs and financial inclusion, as well as for having far reaching and sustainable achievements and milestones that support SMEs development.
Stanbic was also recognised for coming up with innovative financial products and strategies for SMEs in 2023.
“We are committed to driving Africa and indeed Zimbabwe’s growth through well thought-out strategies which uplift the operations of SMEs and particularly take them to the next level,” Mahatchi said.
He said the 7th Sadc Industrialisation Week offered valuable insights in fostering collaboration among Sadc member countries.
Mahatchi said Stanbic’s participation underscored the bank’s pivotal role in driving industrial growth and supporting SMEs.
As part of its strategies aligned to the SMEs, Stanbic Bank set up an incubator/innovation hub in Harare, which empowers and nurtures entrepreneurship and innovativeness in SMEs.
The incubator hub has programmes that exist to capacitate and upskill existing entrepreneurs and start-ups, through the model which is based on pillars that include ideation, incubation and acceleration.
