admin
Harare, 10 April 2024 – Leading financial services institution, Stanbic Bank, has established a
financial fitness academy aimed at equipping Small to Medium Enterprises (SMEs) with the requisite
skills to handle their finances and grow their businesses.
The financial fitness academy will be an annual event that will equip entrepreneurs with the relevant
skills that will see them grow their business while compliant with the financial inclusion requirements
in line with the National Financial Inclusion Strategy II, 2022- 2026 (NFIS II).
Stanbic Bank’s Head of Enterprise Banking, Auxilia Kambasha said the financial fitness academy will
be in the form of training workshops countrywide through which customers are equipped with
financial modeling to assist them in drawing up financial statements and tax compliance requirements,
among other administrative and governance procedures.
“The overarching goal of the bank is to partner with our clients for growth. We are offering the training so
that our clients develop and grow their business as they would have been equipped with financial
basics that will assist them in making the right decisions.
The financial fitness academy will equip
entrepreneurs with relevant skills that are critical and sustainable in achieving growth of their
business while being compliant,” said Kambasha.
She said the first series of the training workshops recently kicked off in Gweru, Kwekwe and
Chegutu.
Kambasha said that investing in critical skills in the promotion of SMEs will result in ripple effects
in the growth of the economy which is the thrust of NFIS II.
Financial inclusion is on the rise globally and continues to be a key enabler in wealth creation,
poverty reduction, and improving the livelihoods of people in low-income groups.
Kambasha said Stanbic Bank is inspired by the quest to bring people and institutions together and
maximise their interconnectedness for mutual benefit.
Stanbic Bank is aware that SMEs play a pivotal role in driving both developing and developed
economies, contributing significantly to poverty reduction, employment creation, value addition,
and economic resilience.
As Stanbic Bank, we believe that developing economies must prioritise
financial literacy, access to financial products, and supporting frameworks that ensure holistic growth
and development,” said Kambasha.
To that end, the Standard Bank Group subsidiary is committed to equipping SMEs with the key growth
drivers on the back of the knowledge.
Key factors that promote inclusion for SMEs include the cost of products and services; the
complexity of financial products and services and the treatment received from service providers
during the attempted access.
“As Stanbic Bank Zimbabwe Enterprise Banking, we are eager to train our customers in financial
modeling to assist them in drawing up financial statements and tax compliance requirements, so that
every business small or big moves together ushering in an era of development, poverty alleviation
and resilience.
“Our vision is “to achieve universal access and usage of a broad range of quality and affordable
financial services that meet the needs of both individuals and enterprises.”,” she said.
Kambasha said Stanbic Bank wants to ensure that every segment of Zimbabwean society has access
to basic financial services irrespective of social or economic status, gender, or level of education.
She said access to, and usage of a broad range of quality and affordable financial products and
services would open up opportunities for better livelihoods. It provides a platform for low-income
populations with the mechanisms to borrow, save and invest, and make payments. Further, it
enables them to plan ahead and better manage their finances,
“Our financial fitness model provides a framework that will lead to the development of a stable,
resilient, competitive, and inclusive financial sector that contributes to economic growth and broad-
based wealth creation,” said Kambasha adding that Stanbic Bank understands that it has a role to play
and is committed to actively work toward the attainment of enabling the growth of SMEs.
Mathew Masinge
Online Reporter