STANBIC Bank Zimbabwe has reiterated its dedication to the growth of the nation's tourism sector, highlighting a suite of tailored financial products designed to support businesses at every stage of their development.
As a leading financial services institution, the bank provides a spectrum of loan facilities and plays a strategic role in assisting tourism enterprises with currency management and investment needs.
Betty Murambadoro, Stanbic Bank’s executive director for corporate and investment banking, stated that the Standard Bank Group subsidiary is focused on delivering solutions that are responsive to specific industry needs.
She emphasised that a deep understanding of sector cycles guides the bank's structuring approach.
“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.
Illustrating this commitment, Murambadoro pointed to the bank's interventions during the COVID-19 pandemic, where it recognised the unique challenges facing tourism and responded with accommodative and flexible solutions to support recovery and build resilience.
The bank’s offerings for the sector include 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.
Stanbic Bank has a proven track record of facilitating hotel upgrades, supporting new ventures, and arranging syndicated loans.
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On the international front, Murambadoro explained the bank’s strategic role in helping tourism businesses navigate currency and investment matters.
This is achieved through multi-currency accounts for transactions in US dollars, Euros, South African Rand, and other major currencies, alongside foreign exchange advisory services to manage volatility.
“These services are designed to help tourism operators remain competitive and resilient in a globalised market. 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,” she said.
“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 settlements a few years ago,” Murambadoro added.
Further bolstering this support, Vongai Mhazo, Stanbic Bank’s Vice President for Telecoms and Tourism, highlighted a recently secured €20 million credit line from the European Investment Bank.
While broadly targeted at SMEs and women-led businesses, the facility is also accessible to tourism-related enterprises.
“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.
Stanbic Bank’s commitment extends beyond financing, as evidenced by its involvement in key sector events. The bank acted as the platinum sponsor for the 3rd Annual AESATA Travel Agents' Conference held from 1 to 3 October, 2025.
Mhazo stated that Stanbic’s participation aligns with its broader strategy to promote sector-wide collaboration, support ecosystem development, and champion financial inclusion.
“We view platforms such as AESATA not just as branding opportunities, but as strategic investments in sector transformation. Our participation is a demonstration that we understand the sector and want to grow with it,” Mhazo said.
She noted that such events provide invaluable insights into the drivers and influences of sector growth, which in turn inform the bank's solution structuring.
“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 stated.
