Stanbic Bank boosts growth, development in agric sector

STAFF WRITER

Leading financial services institution, Stanbic Bank Zimbabwe, is committed to play a pivotal role in fostering the growth and development of the agricultural value chain.

The Standard Bank Group subsidiary has made significant strides in providing both medium- and long-term financing solutions tailored to the unique needs of the sector, over the years.

Stanbic Bank Zimbabwe is a key enabler of growth in the agricultural sector, adopting a value chain approach to drive productivity and sustainability. The Bank has arranged annual and revolving facilities amounting to US$800m on-balance sheet funding and group credit lines.

The institution, cognisant of the fact that agriculture remains a key driver of Zimbabwe’s growth, has extended financial services to more than 55 000 farmers across the country while providing 14 service implants and 13 agency booths to provide inclusive, convenient and affordable banking.

Stanbic Bank Chief Executive (CE), Solomon Nyanhongo told a recent Agricultural Dealers and Manufacturers Association (ADMA) gathering that the institution’s strategic focus is centred on mechanisation and climate-proofing farms for year-round production.

“We recognise that sustainable agriculture requires patient capital, and we are proud to play our part in supporting this,” said Nyanhongo.

He said Stanbic Bank firmly believes that improved access to modern equipment and technology is key to enhancing efficiency, boosting productivity, and ultimately increasing farmer profitability.

Nyanhongo said Stanbic Bank recognises that investing in climate-smart mechanisation goes beyond just financing assets but enabling transformation across the entire value chain.

“As an African bank, we also recognise that production alone is not sufficient. Access to markets is critical. Therefore, one of our priorities is to facilitate market linkages for our clients, ensuring that the fruits of their labour translate into meaningful economic returns,” said Nyanhongo.

To that end Stanbic Bank remained focused on unlocking regional and international opportunities for Zimbabwean farmers and agribusinesses.

Nyanhongo commended organisers of the Agricultural Dealers and Manufacturers Association (ADMA) for contributing towards Zimbabwe’s agricultural transformation through the power of collaboration.

He noted that the event’s key stakeholders and the farmers, in particular, had shown insurmountable resilience, dedication, and unwavering commitment to agricultural production despite the challenges posed by the global environment.

“To our farmers, I extend a special word of gratitude. Your determination in the face of uncertainty, be it climate variability, input cost pressures, or market challenges, demonstrates the true spirit of Zimbabwean agriculture. We stand with you and remain committed to supporting your growth and the expansion of your businesses,” he said.

Nyanhongo reaffirmed Stanbic Bank’s commitment that the institution is here not just as financiers, but as partners on the agricultural journey.

“Together, we will continue to strengthen the agricultural value chain, drive innovation, and build a more productive and profitable sector for generations to come. Zimbabwe is our home. We drive her growth,” said Nyanhongo.

Stanbic Bank Head of Agribusiness, Tawanda Maposah said the institution has continued to position itself as a key enabler in the agricultural sector through tailored financing solutions, input support schemes, and advisory services. The agribusiness division provides holistic support for farmers across Zimbabwe.

“Through structured lending models and value chain financing, the bank has helped farmers navigate difficult seasons, mitigate risk and improve cashflow and access to capital and,” said Maposah.