Zimbabwe

Zimbabwe has rich natural resource reserves with a good climate and soils for agricultural production. It also has a strong base of organisational capacity. Zimbabwe is now using the US dollar as its home currency. While this has increased lending costs, it has supported greater stability in local and international trade.
Zimbabwe at a glance

The country has faced a protracted liquidity shortage; therefore it requires deep and patient capital as its industries and markets develops. Zimbabwe is attractive to investors who have the capital to invest due to its abundant natural resources, a skilled and efficient workforce with good education, and high adult literacy rate.

However, growth remains fragile largely owing to inherent political and economic uncertainties, a high debt overhang and deteriorating infrastructure.

Quick view:

  • Population: 14 600 000
  • Current GDP: USD13.7 billion
  • Real GDP growth: 3.2%
  • Consumer inflation: -0.2%

* 2014 World Bank data

Sector expertise in Zimbabwe

In Zimbabwe, as a resource-based economy with reserves in over 60 minerals and non-minerals, thefocus is on the following sectors:

  • Mining – platinum, gold, coal and diamonds. Also, reserves of gas and uranium, although these are currently untapped. With sufficient investment, the development of Zimbabwe’s resources sector stands to transform the economy significantly.
  • Agriculture – sugar, cotton and tobacco are mostly grown for the export market. Maize is mostly produced by small-scale farmers and wheat by commercial farmers, with imports still required to meet demand.
  • Infrastructure – power (with opportunities in thermal, gas, solar and nuclear), freight, road and rail, plus telecommunications; all present opportunities for growth
  • Social infrastructure – health and education remain a focus
  • Financial services – including pension funds and insurance companies, as well as the donor community
  • Utilities – focusing on areas like water reticulation and sewer systems, as well as the needs of local councils
  • Manufacturing

Standard Bank is a leader in commodity-related financial services, and is able to realise significant value for clients in Zimbabwe.

Our sector specialists provide insights into the conditions and challenges faced on-the-ground by our clients. We develop working solutions by understanding all players in the sector value chain, and coordinate and execute our clients’ financing and banking requirements within and across continents. Moreover, we leverage the expertise of sector experts and product specialists at a group level to develop working solutions for our clients.

Read more about Standard Bank Group’s sector specialism.

Products and services in Zimbabwe

We offer a broad range of products and services, including corporate advisory services and transactional services such as cash management, facilitating payments for trade-related services, custodial and securities services, and online banking. Our financing solutions include structured trade and commodity finance, asset and property finance and debt solutions. We also offer trading and risk management solutions. However, due to regulatory requirements certain hedging products may not be available.

We also offer traditional business products and services, including:

  • Transactional banking accounts for businesses
  • Borrowing products, across vehicle and asset financing, bridging finance, agri-finance, letters of credit, bank guarantees, overdrafts and term loans
  • Saving and investing, including call accounts and fixed deposit account
  • Foreign exchange services, including transfers.

Read more about corporate and investment banking solutions for your business.

 

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Contact us

Stanbic Bank Zimbabwe Limited

59 Samora Machel Avenue
Harare
Zimbabwe

 +263 4 759 471

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