One could say Stanbic Bank Zambia is the heart of Standard Bank’s presence in sub-Saharan Africa as every single one of its seven neighbours – Angola, Namibia, Zimbabwe, DRC, Malawi, Mozambique and Tanzania – has a Standard Bank presence.
More importantly we are asserting our presence in Zambia through our support for its mining, agricultural and property industries, our expansion of Personal and Business Banking products and our work in the community. When asking Zambians about their country and economy, one of the first items mentioned is the copper price. With much of the economy dependent on this metal it’s no wonder Zambians watch the copper price so closely. In 2009, Stanbic Bank Zambia started to get involved in retail and commercial property transactions in Lusaka and on the copper belt. This further demonstrates Standard Bank Group’s appetite for long-term funding projects.
Individuals and smaller businesses in Zambia benefit from our asset-based lending, such as home loans and vehicle and asset finance – not to mention our transactional products. In addition to the 15 branches, mobile and Internet banking is also gaining ground in the country and is providing added convenience to our well-established ATM network.
Currently, credit cards are not available in Zambia but this is expected to change in 2010. With the banking of Standard Bank’s vast experience in that field, Stanbic Bank Zambia will be ready to take up the opportunity to offer cards to individuals and businesses.
Stanbic Bank Zambia strives to give back to the communities. Our social investment in the country focuses on health and education. Two key projects are Beit Cure, a pediatric hospital for children with special and complicated medical needs, and Junior Achievement this initiative includes job shadowing and careers-with-a-purpose projects.
Our partnership with Junior Achievement gets our staff involved through career mentorship programmes and by conducting classes with schools. This year Junior Achievement targeted rural schools and we supported the move. These partnerships with the community are not about convenience but a partnership of purpose, one ensuring we move forward together for the betterment of society.