Stanbic Bank, HIFA Romance Continues

Stanbic Bank Zimbabwe Limited is partnering the Harare International Festival of the Arts (HIFA) to sponsor the dance program for the second year

The financial institution has been supporting HIFA since 2006 and they will be sponsoring the dance program for the second year in a row.

“Stanbic Bank is a supporter of the arts as we understand the importance of such activities in any country”, said Palmer Mugavha who is the Head of Marketing and Communications for the bank,

“We are part of Standard Bank group which has a presence in over 20 countries and that gives us an understanding of the importance of different cultures coming together, HIFA is one of the events that bring cultural-convergence into reality”, said Mugavha.

He added that “The festival opens up doors of opportunity to local artists as much as it does for local small to medium businesses, as Stanbic Bank, we support this initiative and we hope Zimbabwe is ready to take advantage of the prospects.”

Meanwhile as the cash situation in the country remains constrained, Stanbic Bank Zimbabwe continues to innovate around digitizing all their transactions as they have added 60 more schools to the already existing 69 on their mobile banking platform, an initiative which has been running since September 2017.

Personal and Business Banking Manager, Patson Mahatchi said the bank’s partnership with various early learning, primary, secondary and tertiary institutions is set to benefit customers and the various schools on their mobile banking platform.

“The foundation of this initiative is the relationships we have with different educational institutions which we have leveraged to benefit our personal customers when it comes to payment of tuition, and the schools are guaranteed of a systematic collections strategy,

““Our aim is to simplify banking and our pricing on this specific set of transactions is sensitive to a lot of factors for both the customer and the school. For example, when the customer makes the payment from wherever they are in the country, both the school and the parent get the benefit of being immediately notified by a system alert and SMS respectively,” explained Mahatchi.

The new Stanbic Bank system allows for automated reconciliations of collections which helps eliminate forgeries and reduce wasteful administrative costs such as paperwork.


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