STANBIC Bank has positioned itself as a leader in the small-to-medium enterprise (SME) 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.
Last year, the bank also won several awards, including the ZNCC Financial Institution Supporting MSMEs Award, and the Overall Winner SME Financial Services Award at the 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,” Patson Mahatchi, head of business and commercial banking, said in a statement.
“We share our clients’ ambitions to fuel growth on the continent by unlocking opportunities and providing enabling solutions built with real business realities in mind, addressing the critical challenges SMEs face daily.”
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 on favourable terms to SMEs in Zimbabwe.
“Looking ahead, Stanbic Bank continues to focus on expanding financial inclusion for underserved entrepreneurs and developing AI-powered business insights to help SMEs make informed decisions in an increasingly competitive landscape,” the statement reads in part.
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“SMEs 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, it added.
Stanbic Bank established the Incubator Hub, which nurtures entrepreneurship by providing a collaborative space and structured programmes to support SME growth.
Additionally, the bank’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 in the entrepreneurial journey.
They establish deep, personal connections with clients by understanding their business models and growth trajectories, providing tailored support to help them achieve their ambitions.
