Stanbic Bank deepens commitment to tourism sector

SAMANTHA MADE

Stanbic Bank Zimbabwe has reaffirmed its commitment to the growth of the tourism sector, offering a wide range of financial products designed to support the industry’s development and resilience.

The leading financial services institution provides loan facilities for tourism operators while playing a strategic role in helping businesses manage currency, investments, and operational needs.

Stanbic Bank Executive Director for Corporate and Investment Banking (CIB), Betty Murambadoro, said the Standard Bank Group subsidiary is focused on delivering solutions responsive to industry and sector-specific requirements, guided by a deep understanding of sector cycles.

“We value open dialogue and collaboration, enabling us to tailor-make financial structures and solutions that truly align with our customers’ evolving requirements. Our approach is not just transactional, it’s adaptive,” Murambadoro said.

Highlighting the bank’s intervention during the COVID-19 pandemic, Murambadoro noted that Stanbic recognized the unique challenges faced by the tourism sector and responded with flexible solutions that supported recovery and resilience.

“The range of loan facilities that can be accessed by the tourism sector includes asset financing for vehicles and equipment; working capital loans to support operational needs during peak and off-peak seasons, including standby facilities; and infrastructure development loans for expansion projects,” she said.

Stanbic Bank has also been involved in numerous hotel upgrades, new ventures, and syndicated loan arrangements. Murambadoro added that the bank supports tourism businesses in managing currency and investment matters through multi-currency accounts, enabling transactions in United States dollars (USD), Euro (EUR), South African Rand (ZAR), and other major currencies.

“We also provide foreign exchange advisory services to help manage volatility and optimize conversion timing, as well as cross-border trade financing. These services are designed to help tourism operators remain competitive and resilient in a globalized market,” Murambadoro said.

She added, “We are very mindful that some of our clients are venturing into countries across the region where Stanbic Bank has representation, and we get involved at the early stages of Exchange Control. We encourage tourism operators to take advantage of our footprint across Africa and call on us to assist them to enter those markets. In terms of foreign exchange challenges, we have a fully-fledged Treasury function in the bank that supports currency switches across different international currencies. A case in point includes the introduction of trading in Renminbi (RMB) settlements a few years ago.”

Stanbic Bank Vice President for Telecoms and Tourism, Vongai Mhazo, said players in the tourism sector can also benefit from a recently secured €20 million credit line from the European Investment Bank (EIB).

“While the allocation is not sector-specific, the facility can be accessed by tourism-related enterprises, especially those owned or led by women as well as SMEs, with special consideration for those businesses which employ a significant number of women or offer services specifically to women,” Mhazo said, highlighting that the facility provides access to affordable credit with extended tenors.

Mhazo added that Stanbic Bank’s commitment to tourism is also demonstrated through its active participation in key sector events. The bank was the platinum sponsor of the 3rd Annual AESATA Travel Agents’ Conference held from October 1-3, 2025.

“Our participation at the AESATA Conference aligns with our broader strategy to promote sector-wide collaboration, support ecosystem development, as well as champion financial inclusion and innovation across economic sectors,” Mhazo said.

She noted that such events allow Stanbic Bank to understand what drives the sector and influences growth, enabling the bank to structure solutions tailored to industry-specific needs.

“Just by participating at this event, we have seen the opening up of new business opportunities and new clients that we will onboard as a result of our participation,” Mhazo