Stanbic Bank Zimbabwe has called for sustainability to be integrated into the country’s economic development strategy saying long-term growth must balance investment, social progress and environmental protection.
The bank made the call at the second edition of its Sustainability Conference, held under the theme “Driving Zimbabwe’s Sustainable Growth” which brought together bankers, corporate executives and sustainability stakeholders.
The conference was attended by United Nations Resident Coordinator Dr Rosemary Kalapurakal, who was the guest of honour.
Opening the conference, Stanbic Bank chief executive Solomon Nyanhongo said sustainable development should strengthen the economy without compromising the opportunities and resources available to future generations.
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“Your presence reflects a shared understanding that sustainability cannot be delivered by one institution, one sector or one set of experts. It requires the deliberate interweaving of people, ideas, partnerships, innovation and responsible action,” he said.
Nyanhongo said collaboration across sectors was essential to building an economy capable of withstanding shocks, creating opportunities and generating lasting value.
He said the bank’s guiding purpose, “Zimbabwe is our home, we drive her growth”, required it to look beyond short-term transactions and consider the long-term effects of its lending decisions, investments and engagement with communities.
Sustainability, he added, was increasingly being integrated into the bank’s governance, business strategy, risk management, credit assessments, product development and daily operations.
To strengthen accountability, Stanbic has established a dedicated Head of Sustainability position to coordinate and drive the implementation of its sustainability agenda.
“The Head of Sustainability is responsible for helping us drive and coordinate our sustainability agenda, ensuring that it is increasingly embedded in how we think, how we make decisions and how we do business. Her role is an important statement of intent for us,” Nyanhongo said.
He said the bank was also committed to strengthening its internal practices and pursuing certification under the Sustainability Standards Certification Initiative.
Stanbic’s sustainability strategy is anchored on three High Impact Goals: infrastructure and economic development, financial inclusion, and entrepreneurship and job creation.
Nyanhongo said these priorities informed the bank’s support for renewable energy, healthcare, agriculture, enterprise development and critical infrastructure, alongside efforts to expand digital banking and access to financial services.
The bank also aims to strengthen financial literacy and work with businesses and partners to widen participation in the formal economy.
Delivering her remarks, Dr Kalapurakal commended Stanbic for convening stakeholders capable of connecting Zimbabwe’s development ambitions with the capital, expertise and implementation needed to turn them into reality.
She said Zimbabwe had significant opportunities in areas linking water security, agriculture, energy, land management, climate resilience and economic development.
However, she said the priority was to translate these opportunities into bankable investments and projects that deliver tangible benefits to communities.
“So, the question that we need to discuss is the following: how do we turn Zimbabwe’s development priorities into investable propositions, financed projects, and ultimately, lasting improvements in people’s lives?” she asked.
Dr Kalapurakal said the challenge was not simply a shortage of financing but also the need to develop credible, well-prepared and scalable projects capable of attracting investment.
She said the focus should therefore shift from asking where the money would come from to establishing the conditions necessary for capital to flow responsibly and at scale.
Zimbabwe had significant assets on which to build, including its human resources, agricultural potential, biodiversity, mineral wealth, renewable energy resources, strategic regional position and businesses that had demonstrated resilience despite difficult operating conditions.
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“For investors, the opportunities are clearly visible in climate-smart agriculture and agro-processing, solar and storage, water, responsible mineral value addition, digital services, logistics and enterprises ready to grow,” she said.
Dr Kalapurakal also highlighted reforms aimed at improving Zimbabwe’s investment climate, including digital licensing, greater transparency through eRegulations and the establishment of the One Stop Investment Services Centre.
She said measures introduced through the Zimbabwe Investment and Development Agency (ZIDA) had reduced licensing turnaround times from 21 days to five.
“These are practical reforms because, for an investor, time, cost, transparency and predictability matter. So, the direction of travel is encouraging. The hard work now is to turn both opportunity and reform into a stronger pipeline of investable transactions,” she said.
The conference underscored the need for stronger partnerships between financial institutions, government, businesses and development partners to ensure that sustainability commitments translate into investment, economic opportunities and improved livelihoods.
