Online Reporter
Zimpapers Reporter
LEADING financial services institution Stanbic Bank Zimbabwe has reaffirmed its commitment to supporting the growth and development of the agricultural sector through tailored financing solutions, mechanisation support and value chain financing.
The bank says agriculture remains a key driver of Zimbabwe’s economic growth and has therefore continued to invest in initiatives that enhance productivity, sustainability and market access for farmers and agribusinesses.
Speaking at a recent Agricultural Dealers and Manufacturers Association (ADMA) gathering, Stanbic Bank chief executive Mr Solomon Nyanhongo said the institution had made significant strides in providing medium and long-term financing solutions designed to meet the unique needs of the agricultural sector.
He said the bank had adopted a value chain approach to agricultural financing, helping drive productivity while supporting sustainability across the sector.
“Stanbic Bank is a key enabler of growth in the agricultural sector. We recognise that sustainable agriculture requires patient capital, and we are proud to play our part in supporting this,” said Mr Nyanhongo.
He said the bank had arranged annual and revolving facilities amounting to US$800 million through on-balance sheet funding and group credit lines to support agricultural production.
According to the bank, more than 55 000 farmers across Zimbabwe have benefited from its financial services, while 14 service implants and 13 agency booths have been established to provide inclusive, convenient and affordable banking services.
Mr Nyanhongo said Stanbic Bank’s strategic focus was centred on mechanisation and climate-proofing farms to enable year-round production.
He noted that improved access to modern equipment and technology was critical in enhancing efficiency, increasing productivity and improving farmer profitability.
“Investing in climate-smart mechanisation goes beyond financing assets. It is about enabling transformation across the entire agricultural value chain,” he said.
Mr Nyanhongo said the bank also recognised that production alone was not enough and that access to markets remained critical for farmers and agribusinesses.
“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,” he said.
He said the bank remained focused on unlocking regional and international market opportunities for Zimbabwean farmers and agribusinesses.
Mr Nyanhongo commended ADMA for promoting collaboration among stakeholders and contributing to Zimbabwe’s agricultural transformation.
He also praised farmers for their resilience in the face of climate variability, rising input costs and market challenges.
“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.
Mr Nyanhongo reaffirmed the bank’s commitment to supporting the sector beyond financing.
“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,” he said.
Stanbic Bank head of agribusiness Mr Tawanda Maposah said the institution had positioned itself as a key enabler in agriculture through tailored financing solutions, input support schemes and advisory services.
He said the agribusiness division continued to provide holistic support to farmers across the country.
“Through structured lending models and value chain financing, the bank has helped farmers navigate difficult seasons, mitigate risk, improve cash flow and enhance access to capital,” said Mr Maposah.
