Precious Manomano
Business Reporter
STANBIC Bank Zimbabwe is stepping up efforts to promote sustainable economic growth through investment in infrastructure, agriculture, renewable energy and financial inclusion, as the country seeks to translate development priorities into tangible economic opportunities.
This emerged at the second edition of the bank’s Sustainability Conference held under the theme, “Driving Zimbabwe’s Sustainable Growth” that brought together bankers, corporate executives and sustainability stakeholders to discuss how investment can support long-term economic development.
United Nations Resident Coordinator, Dr Rosemary Kalapurakal, who was the guest of honour, said Zimbabwe needs to convert its abundant natural and economic resources, coupled with ongoing investment reforms, into viable projects capable of attracting financing and improving people’s livelihoods.
She said the country has significant opportunities in climate-smart agriculture, agro-processing, renewable energy, water security, mineral value addition and digital services, but these needed to be supported by well-prepared projects that investors could finance.
Dr Kalapurakal challenged stakeholders to focus not only on the availability of money, but also on developing credible and scalable investment opportunities.
“So, the question that we need to discuss is the following: how do we turn Zimbabwe’s development priorities into investable propositions, financed projects and ultimately, lasting improvements in people’s lives?” she asked.
She said although financing remains inadequate to meet all development needs, Zimbabwe also needed to strengthen the pipeline of bankable projects to ensure that available capital reached productive sectors of the economy.
The country, she said, has substantial assets on which to build, including its human capital, agricultural potential, biodiversity, mineral resources, renewable energy opportunities, strategic regional location and resilient businesses.
“For investors, the opportunities are clearly visible in climate-smart agriculture and agro-processing, solar and storage, water, responsible mineral value addition, digital services, logistics and enterprises ready to grow,” said Dr Kalapurakal.
She commended the reforms being implemented to improve the investment climate, including digital licensing, electronic regulations and the One Stop Investment Services Centre.
Dr Kalapurakal said reducing licensing turnaround time from 21 days to five days was an important step towards improving efficiency, transparency and predictability for investors.
“These are practical reforms because, for an investor, time, cost, transparency and predictability matter. So, the direction of travel is encouraging. The hard work now is to turn both opportunity and reform into a stronger pipeline of investable transactions,” she said.
Stanbic Bank Zimbabwe chief executive, Mr Solomon Nyanhongo, said sustainable development required economic progress that met the needs of the present without compromising the opportunities and resources available to future generations.
“Your presence reflects a shared understanding that sustainability cannot be delivered by one institution, one sector or one set of experts. It requires the deliberate interweaving of people, ideas, partnerships, innovation and responsible action,” he said.
Mr Nyanhongo said the bank’s purpose, “Zimbabwe is our home, we drive her growth”, guided its commitment to supporting businesses and communities while considering the long-term impact of its lending and investment decisions.
He said sustainability was increasingly being integrated into the bank’s governance, strategy, risk management, credit assessment, product development and daily operations.
To strengthen accountability, the bank had established a Head of Sustainability position to coordinate its sustainability agenda and ensure that responsible business practices were incorporated into its operations.
“The Head of Sustainability is responsible for helping us drive and coordinate our sustainability agenda, ensuring that it is increasingly embedded in how we think, how we make decisions and how we do business. Her role is an important statement of intent for us,” he said.
Mr Nyanhongo said the bank remained committed to strengthening its sustainability practices and advancing towards certification under the Sustainability Standards Certification Initiative.
He said its sustainability approach was anchored on three High Impact Goals, namely infrastructure and economic development, financial inclusion and entrepreneurship and job creation.
These priorities guide the bank’s support for sustainable infrastructure and energy systems, broader access to financial services, enterprise growth and employment creation.
Mr Nyanhongo said the bank was directing capital towards sectors that could strengthen Zimbabwe’s long-term productive capacity, including renewable energy, healthcare, agriculture, enterprise development and critical infrastructure.
The bank was also expanding digital and inclusive banking solutions, strengthening financial capability and working with clients and partners to widen participation in the formal economy.
He said sustainability should not be confined to conference discussions or annual reports, but should be reflected in business decisions, with clear responsibilities and accountability.
The conference provided a platform for stakeholders to examine how responsible investment, stronger partnerships and practical implementation could support Zimbabwe’s development ambitions while balancing economic growth, social progress and environmental protection.
