Standard Chartered Bank committed to Bulawayo industry revival

Published: 10 June 2013
STANDARD Chartered Bank Zimbabwe is committed to supporting the revival of industries in Bulawayo and will continue facilitating the development and growth of the economy, the bank's chairman, Mr Samuel Rushwaya, has said. He said this while officially opening the bank's second branch in Bulawayo on Wednesday evening.

"In 2012, we made the decision to add a second branch for our customers and clients in Bulawayo as we seek to support industry revival initiatives for Bulawayo, a key industrial hub for Zimbabwe," he said. The past decade has seen the city experiencing de-industrialisation due to a host of challenges facing the economy that include liquidity constraints, erratic power supplies and obsolete equipment.

More than 20 000 workers have as a result lost jobs following the scaling down of operations, closure or relocation of companies to other parts of the country. "We remain committed to the long-term interest of our customers and staff in Zimbabwe, and to continuing facilitating growth of the economy," he said.

Mr Rushwaya said their Belmont branch opened its doors to the public on 26 December last year.

He said the branch was designed to meet international standards by ensuring efficient use of space while enhancing the overall customer experience.

"Standard Chartered has a unique brand - we combine our international expertise and capabilities with deep-rooted local knowledge and experience, enabling the bank to deliver on superior financial performance and customer service.

"Indeed our results, announced on Tuesday, show record financial performance for Africa - 15 percent average growth over five years," said Mr Rushwaya.

He said the opening of their Belmont Branch was part of the institution's commitment to invest $100 million over the next three years on the continent expanding its branch network.

"The opening of this branch is testimony that the bank is living up to its brand promise to be here for good".
- TC
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