Tinotenda Hove – Stanbic Bank Zimbabwe has officially opened its 17th branch in Masvingo as the financial institution continues expanding its footprint across the country.

The launch of the Masvingo branch comes shortly after the opening of the Chiredzi branch in September, marking another milestone in Stanbic’s nationwide growth.

Stanbic Head of Personal and Private Banking, Nelson Muhau, said the two new branches are part of a strategy to improve accessibility for customers across Zimbabwe.
Muhau explained that the Masvingo branch was built around a modern, customer-focused model designed to enhance convenience and personalised service.

“Both Masvingo and Chiredzi branches cater for personal and business customers,” he said. “Other services offered include a round-the-clock ATM for withdrawals using Stanbic Visa, Mastercard and Zimswitch-enabled cards, as well as for deposits.” He added that MoneyGram services also have a dedicated space within the branch.

Stanbic Bank, which was recently named the Best Bank in Zimbabwe, now operates branches in Harare, Gweru, Kwekwe, Mutare, Chegutu, Ngezi, Victoria Falls, Hwange, Chiredzi and Beitbridge, supported by 51 ATMs and 17 bulk cash deposit machines.

Muhau said the newly opened branches will provide personalised financial advice, support, and advisory services for customers seeking loans or investment options.
“The opening of the Masvingo branch demonstrates that the Stanbic Bank Zimbabwe brand is growing as we venture into these untapped geographic areas, a situation which helps us reach a wider target market and enhance market share,” he said.

He noted that the new branches also offer convenience for clients who prefer face-to-face services, even as they continue using mobile or online banking for everyday transactions.

Beyond traditional branches, Stanbic Bank has also been establishing several “tobacco implants” – remote banking stations located in key tobacco-growing regions. These facilities support farmers during the tobacco-selling season by bringing banking services closer to production areas, reducing travel costs, and improving convenience.

Through these implants, the bank offers services such as opening specialised tobacco farmers’ accounts, registering clients on digital platforms, and providing access to both USD and ZWG cash withdrawals.

Stanbic Bank remains a major player in Zimbabwe’s tobacco sector, offering significant funding to merchants and producers along the value chain. Over the last three years, the institution has set up 15 such facilities, ensuring real-time support for stakeholders involved in the production, processing, and marketing of the crop.