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Stanbic Bank Unveils Health Sector Value Proposition

Harare, 22 August 2023 – Leading financial services institution, Stanbic Bank, recently launched a Health Sector Value proposition which will contribute significantly to the health and well-being of Zimbabweans.

The launch of the Health Sector Value Proposition was held in Harare and attended by health professionals, representatives of medical sector bodies, captains of industry and the academia.

Stanbic Bank’s Health Sector Value Proposition is a holistic suite of solutions which will enable health sector practitioners to focus on the wellbeing of their patients whilst the bank looks after their financial wellbeing.

Speaking at the launch, Stanbic Bank’s Chief Financial Officer (CFO), Tafadzwa Mahachi said the holistic suite of solutions was carefully put together on the realisation that the health sector is one of the most important sectors in any country given its responsibility of ensuring the health and well-being of the population, which has a significant impact on the economy, society, and individual lives.

Mahachi acknowledged the pressures that medical professionals face on a day-to-day basis and said   the health sector’s contribution to a healthy and productive nation should never be underestimated.

He said it was against that background that Stanbic saw it fit to commit to offer seamless banking solutions specifically curated for the health sector through the Health Sector Value Proposition.

Stanbic’s dedication to the health sector was well complimented by the institution’s partnership with Zhejiang International Trading Supply Chain Co Ltd (which trades as Guomao in China) under the Africa China Trade Import Solution.

“Stanbic Bank’s partnership with Guomao through the Africa China Trade Import Solution has been pivotal in ensuring that health sector players intending to import consumables and equipment from China are matched to suppliers and manufacturers. As a financial services institution, we are intentional in going beyond banking to offer holistic banking solutions for the health sector through a well-thought-out Health Sector Value proposition,” said Mahachi.

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He said Stanbic Bank is committed to taking care of its clients in the health sector’s finances and financial wellness so that they can focus on the well-being of their patients.   

The Africa China Trade Solutions (ACTS) – Import Solution is directly linked to Original Equipment Manufacturers (OEMs)Guomao’s scope of services includes sourcing products from verified suppliers, negotiating price and payment terms; quality check and assurance; handling shipping logistics and delivery to destination; clearing documents and after-sale support.

The Chinese entity has broad expertise and can handle procurement of all kinds of products, raw materials, and goods with the focus sectors being agriculture, industrialization, transportation, infrastructure, medical and health; manufacturing; construction and mining.

Each product has a Minimum Order Quantity (MOQ), to meet according to factories’ production requirement. A minimum invoice value of US$2000.00 or equivalent is required for the import solution.

Guomao Managing Director, Chaofeng Deng, said the entity was committed to building a trustworthy bridge between Africa and China cognizant of the fact that industrialization was the key to economic growth for Zimbabwe.

Speaking at the launch, Standard Bank Head of Trade Development for Africa, Luthando Vuba, said the bank was focused on going beyond the traditional approach to banking. “Africa is our home and we drive her growth and healthcare needs to be at the center of this growth,” said Vuba. He emphasised the need for the Group to do more in terms of assisting the healthcare sector, not only through financing quality medical equipment but also to ensure that there is skills transfer and collaboration from some of the best medical institutions from China and across the world.

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Stanbic Bank’s Head-Public Sector, Ms Sarah Charangwa, highlighted that Stanbic Bank serves the health sector through dedicated specialist relationship managers who understand the clients’ needs and are able to effectively proffer relevant solutions to enable the clients’ businesses to grow and succeed.

“There are many benefits that the health sector players will enjoy by banking with Stanbic Bank. We have inclusive solutions that will take care of everything they need to build and grow a health practice. Our dedicated team of healthcare specialists will look after their banking needs with the same level of care that they extend to their patients,”

Stanbic Bank has also been very responsive to the challenges faced by the health sector through its flagship CSI project, Usizo-Ruyamuro. Since its inception in 2019, many public health institutions country-wide have received equipment ranging from dialysis machines, theatre renovations and cancer treatment medications.

The Standard Bank Group subsidiary remains dedicated to playing its part to support the nation’s goals for the health sector as it implements the National Health Strategy 2021-2025.

“Our health care solutions are all inclusive focusing on both the public and private health sector players. We have also been deliberate in including offerings for health sector workers to enable them to reach their financial goals,” said Charangwa.

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