Stanbic Bank moves to promote international trade

Stanbic Bank Zimbabwe, has stepped up efforts to promote international trade by launching an e-book that guides locals on how to source products from China at the annual Stanbic China Day held recently.

The e-book, titled – the Beginner’s Guide to Importing from China – represents another step towards Stanbic Bank’s commitment to fulfil its purpose to drive Zimbabwe’s growth.

Stanbic Bank chief executive, Solomon Nyanhongo, said the guide is more than just a resource but a practical tool to empower clients to explore new sourcing opportunities, streamline their import processes and increase their competitiveness on the global stage.

“At Stanbic Bank, our commitment remains strong: Zimbabwe is our home and we are dedicated to driving her growth by supporting local enterprises to achieve greater global competitiveness. Stanbic Bank remains dedicated to walking this journey with you. Our support goes beyond transactions. We are here to be your partners in growth, to provide the guidance, expertise and connections that will help you seize new opportunities,” said Nyanhongo.

The annual Stanbic China Day was attended by Economic and Commercial Counsellor of Chinese Embassy, Huang Minghai; CZI chief executive officer, Sekai Kuvarika; ZimTrade director operations, Similo Nkala and China Zimbabwe Exchange Centre (CZEC), Steve Zhou among other stakeholders.

Nyanhongo said the theme for the Stanbic China Day – Empowering Zimbabwean Enterprises: A Gateway to Global Competitiveness – reflects the Standard Bank Group subsidiary’s unwavering commitment to seeing Zimbabwean businesses thrive.

He said Stanbic China Day helps the participating stakeholders unlock the immense potential that lies in industries and take them beyond Zimbabwean borders into the global marketplace.

Nyanhongo said Stanbic Bank’s efforts to promote international trade emanates from years of concerted efforts by the institution to understand the key challenges that Zimbabwean businesses were facing, particularly with international trade.

He said these efforts revealed that while there was an unquestionable desire to grow and compete globally, many enterprises struggled with accessing the right technology, quality machinery and resources to scale up their operations.

“We observed the complexities of navigating international trade, understanding regulatory requirements and sourcing quality products from China and recognised that if we were to truly empower our clients, we needed to find solutions that go beyond just offering banking services. We had to build bridges to help our clients overcome these challenges,” said Nyanhongo.

He said the institution sought to find a solution that would not only help Zimbabwean businesses tap into the Chinese market, but also ensure that they remain competitive on a global scale. The goal was to capacitate local industries to become more self-sufficient, efficient and competitive.

“To achieve this, we formed a strategic partnership with a reputable company in China, which has enabled us to facilitate the importation of quality machinery and materials valued at over US$ 3.4 million within the past two years,” he said.

Nyanhongo said this partnership is not just about bringing in products but about bringing in solutions that empower local businesses with the tools and technologies they need to enhance productivity, improve quality and scale their operations sustainably.

By supporting businesses in acquiring the right equipment, Stanbic Bank is helping to reduce reliance on importing finished products.

“This shift towards local value addition is crucial if we are to transform our economy from being heavily import-dependent to one that is export-oriented and competitive on a global scale,” said Nyanhongo.

He said Stanbic Bank’s commitment to empower local enterprises has seen the institution send a delegation of staff and valued clients to Shanghai for the China International Import Expo (CIIE) held from the 5th to the 10th of November.

Nyanhongo said the event provided a unique opportunity to connect Zimbabwean enterprises with Chinese buyers and partners, opening doors for increased trade and collaboration.

“Our participation in the CIIE is just one of the many initiatives that Stanbic Bank is undertaking to empower local businesses. By facilitating access to international markets, we aim to equip Zimbabwean companies with the tools, networks and insights they need to expand their global footprint,” said Nyanhongo.

Stanbic Bank head business and commercial banking, Patson Mahatchi, said Stanbic China Day has grown to become a vital platform for fostering connections and driving economic collaboration between Zimbabwe and China.

Mahatchi said the theme helps showcase that Stanbic Bank appreciates that in today’s global economy, staying competitive means not only expanding horizons but also embracing new partnerships and opportunities beyond Zimbabwean borders.

“Stanbic Bank Zimbabwe is proud to be part of the Standard Bank Group, which holds 100 percent shareholding in the bank. Our deep-rooted connection with ICBC, our largest shareholder, uniquely positions us to unlock the full potential of Zimbabwe-China trade relations. This relationship is a powerful enabler, allowing us to support our clients in navigating the vast opportunities that exist in the Chinese market,” said Mahatchi.

Huang Minghai commended Stanbic Bank for being a full-fledged participant and promoter of China-Zimbabwe cooperation.

He said Stanbic Bank is a leading financial services institution for Chinese companies in Zimbabwe not only because of its ties with the Industrial and Commercial Bank of China (ICBC) but also because it values its relationship with the Chinese business community in Zimbabwe and attaches significant importance to improve its services.

“Last year Stanbic Bank launched the Exporter’s guide e-book for Zimbabwean exporters and business entities seeking to understand and penetrate the Chinese market. Today Stanbic Bank is unveiling the importers Guide to China, which is another measure of Stanbic bank to facilitate trade between China and Zimbabwe,” said Huang.-ebsinessweekl