Stanbic Bank Pledges Deeper Support for Zimbabwe’s Mining Sector with US$227 Million in 2025 Funding
By Desire Tshuma
VICTORIA FALLS – Stanbic Bank Zimbabwe has reaffirmed its commitment to the mining sector, revealing it extended US$227 million in credit facilities to miners in 2025 alone.
Speaking at the just-ended Chamber of Mines conference, Chief Executive Solomon Nyanhongo said the bank’s support goes beyond funding to include advisory services, structured finance, and tailored solutions across the mining value chain.
“Over the past year, Stanbic Bank has significantly strengthened its financial support to the mining sector. In 2025 alone, we extended credit facilities to this critical sector amounting to a total of US$227 million,” Nyanhongo told delegates.
He said the bank’s 20-year relationship with the Chamber of Mines, dating back to 2005, is anchored on shared goals of sustainability, growth, and value creation. Stanbic also provides technical support through its exchange control team to help clients navigate compliance.
Nyanhongo highlighted Stanbic’s edge as a subsidiary of Standard Bank Group, Africa’s largest banking group, and its alliance with Industrial and Commercial Bank of China, the world’s largest bank by assets.
“This unique positioning enables Stanbic Bank to connect Zimbabwe’s mining sector to global capital, international markets, and technical expertise,” he said, noting that the bank delivers end-to-end solutions from advisory to infrastructure financing and cross-border trade facilitation.
A Standard Bank Group delegation at the conference included Senior Vice President for Mining & Metals China Bridget Liu, Executive Vice President Sean Evans, Head of Client Coverage for China Jessica Cao, and Head of Structured Products for Africa Regions Nana Asare.
Looking ahead, Nyanhongo said Stanbic will continue to roll out innovative financial products and strengthen partnerships to support Zimbabwe’s growth agenda.
“In closing, allow me to reaffirm Stanbic Bank’s commitment – we are not just financiers, but long-term partners in the journey towards growth, resilience, and shared prosperity,” he said.
