Friday, April 12, 2024
HomeBusinessStanbic Bank Lays Foundation For HQ In Borrowdale

Stanbic Bank Lays Foundation For HQ In Borrowdale

Stanbic Bank Zimbabwe on Monday held a ground breaking ceremony for the construction of a state-of-the-art three-level Head Office in the leafy suburb of Borrowdale.

Construction of the Head Office, which is set to create over 400 direct and downstream jobs, kicked off in February and is scheduled to be completed by December next year.

The Standard Bank Group subsidiary’s Board Chairman, Gregory Sebborn said the construction of the Head Office embraced the institution’s bold strategy for sustainability and employee wellness.

Stanbic Bank Board Chairman Gregory Sebborn (centre) flanked by the institution’s Chief Executive (CE) Solomon Nyanhongo (left) and Chief Financial Officer (CFO) Tafadzwa Mahachi at the ground breaking ceremony. 

Sebborn said the Head Office Building is one of a few in Southern Africa that combines green star certification having engaged both Green Star South Africa and Green Star Zimbabwe and the International WELL Building Institute’s certification. Stanbic will get the first green certificate in Zimbabwe.

“The design of the new Head Office reflects our commitment to innovative water management, sustainable construction materials, energy consumption reduction and responsible water management.

“By embracing these practices, we demonstrate our dedication to leaving a positive impact on the environment and the communities we serve. It demonstrates a commitment to ethical practices and a proactive approach to addressing global environmental challenges,” said Sebborn.

Stanbic Bank Chief executive (CE) Solomon Nyanhongo said the construction of the Head Office was a clear indication that the bank was in Zimbabwe permanently.

He said Stanbic considered Zimbabwe and indeed Africa as its home and the institution had a commitment to drive her growth.

ALSO ON 263Chat:  Red Flag Over Abuse Of Funds At Zim Foreign Missions

Significantly the construction project is committing to support the Zimbabwe economy with the procurement process aiming to drive as much local spending and local job creation as possible.

“All contractors involved in the construction of our new head office are from Zimbabwe – a testament to our dedication to supporting local talent and expertise. In addition to this, we have committed to procuring 50% of the construction materials locally. The decision is not just a logistical choice but a manifestation of our belief that Zimbabwe is our home and we actively contribute to driving its growth,” said Nyanhongo.

He said the vision for the Head office is not just about constructing a building but about shaping a future where innovation, sustainability and employee well being as well as customer care converged.


Nyanhongo said the objective of the head office included consolidation of all administrative functions under one roof, employee wellness, environmental responsibility and clients.

He said by investing in local contractors and materials Stanbic aims to bolster the economy, create employment opportunities and foster a sense of shared prosperity within the community in which the institution operates.

The Head office depointed to a future where innovation, collaboration and responsibility converge to propel the bank its community forward.

ALSO ON 263Chat:  ED To Attend This Year's African Mining Indaba In Cape Town

The Head Office will have a sub-basement, ground floor and two floors and will have an open plan designed to promote seamless communication and teamwork, reflecting the bank’s commitment to a cohesive and dynamic work environment.

To cater for employee wellness, the Head Office will incorporate a gym, dining facilities, meeting rooms and an auditorium to provide the Stanbic team with the tools they need not only to excel professionally but also to thrive personally.

“Equally significant is our dedication to environmental responsibility. The building will be a testament to the bank’s responsibility towards the environment and the communities it serves.

Nyanhongo said the Herad Office will incorporate a private baking suite in line with Stanbic’s strategic commitment to providing personalized and exclusive services to our valued clients.

“This exclusive space will provide and comfortable environment for private consultations, financial services planning discussions and other bespoke services that carter to the unique needs of our private banking clients,” said Nyanhongo.

Land for the Head Office was purchased in 2016 and the ground work for the project began in earnest in 2017 -2019 before being put on hold due to COVID 19. It resumed in 2021 and the design process and final award of the contractor was done last month.

Share this article

No comments

Sorry, the comment form is closed at this time.

You cannot copy content of this page