…UN Resident Coordinator Dr Rosemary Kalapurakal (left) receives a gift from Stanbic Bank Chief Executive (CE) Solomon Nyanhongo at the Sustainability Conference.
Business Writer
Leading financial services institution, Stanbic Bank Zimbabwe, has hosted the second edition of the Sustainability Conference as it seeks to play a pivotal role in pushing for economic growth through sustainability.
The Sustainability Conference was held under the theme, “Driving Zimbabwe’s Sustainable Growth,” underpinned by the recognition that economic growth needs to be pursued on the back of key pillars such as inclusivity, sustainability and responsibility. It was attended by key sustainability stakeholders, bankers, corporate executives and anchored by United Nations (UN) Resident Coordinator, Her Excellency Dr Rosemary Kalapurakal, who was guest of honour.
In his opening remarks at the conference, Stanbic Bank Chief Executive (CE), Solomon Nyanhongo said the drive for sustainable growth must strengthen the economy today without compromising the opportunities, resources and wellbeing of future generations.
“Your presence reflects a shared understanding that sustainability cannot be delivered by one institution, one sector or one set of experts. It requires the deliberate interweaving of people, ideas, partnerships, innovation and responsible action,” said Nyanhongo.
He said when these threads come together, they create a Zimbabwe that is better equipped to withstand shocks, unlock opportunity and generate lasting value. Nyanhongo said Stanbic Bank Zimbabwe has a clear purpose: “Zimbabwe is our home, we drive her growth”, adding that this purpose calls on the Standard Bank Group subsidiary to look beyond short-term transactions and to consider the enduring impact of the decisions it makes, the capital it deploys, the businesses it supports and the communities it serves.
He said sustainability at Stanbic Bank is not a separate programme that sits on the margins of the business, but is increasingly woven into its governance, strategy, risk management, credit assessment, product development and daily operations, shaping how it balances economic growth, social progress, environmental stewardship and sound governance.
Nyanhongo said Stanbic Bank has strengthened its sustainability capability by creating a key post of Head of Sustainability recognising that commitments of this nature require dedicated leadership and accountability, “The Head of Sustainability is responsible for helping us drive and coordinate our sustainability agenda, ensuring that it is increasingly embedded in how we think, how we make decisions and how we do business. Her role is an important statement of intent for us,” said Nyanhongo.
He said Stanbic Bank believes that sustainability cannot simply be something talked about at conferences or reported on once a year. It must have ownership, focus and accountability within the organisation. Nyanhongo said Stanbic remains committed to aligning with this sustainability drive, strengthening its own practices and advancing the journey towards certification under the Sustainability Standards Certification Initiative.
“Our approach is anchored on three High Impact Goals: infrastructure and economic development, financial inclusion, and entrepreneurship and job creation, which guide how we support sustainable infrastructure and energy systems, expand access to financial services, enable enterprise growth and contribute to employment creation,” said Nyanhongo.He said this includes directing capital towards sectors and solutions that strengthen Zimbabwe’s long-term productive capacity, including renewable energy, healthcare, agriculture, enterprise development and critical infrastructure, while expanding digital and inclusive banking solutions, strengthening financial capability, and working with clients and partners to unlock opportunities that broaden participation in the formal economy.
Dr Kalapurakal commended Stanbic Bank for convening the conference and “bringing together the people who can connect national ambition with capital, expertise and execution.”
She said the conference was being held at a moment when Zimbabwe’s development ambitions are clear, as are significant opportunities related to the themes of this conference – linking water security, land, agriculture, energy, climate resilience and economic opportunity.Dr Kalapurakal said the challenge now is to convert that opportunity into investment and implementation.
“So the question that we need to discuss is the following: how do we turn Zimbabwe’s development priorities into investable propositions, financed projects, and ultimately, lasting improvements in people’s lives?” asked Dr Kalapurakal.She said while clearly there is not enough financing for all the needs, the challenge goes beyond, to creating enough credible, well-prepared and scalable opportunities through which capital can reach the real economy.To that end, the focus moves from only “where is the money” to “What must we put in place for capital to move, responsibly and at scale?”Dr Kalapurakal said Zimbabwe was endowed with real assets on which to build such as: human capability, agricultural, biodiversity and mineral endowments, renewable-energy potential, a strategic regional location, and businesses that have demonstrated resilience under difficult conditions.“For investors, the opportunities are clearly visible in climate-smart agriculture and agro-processing, solar and storage, water, responsible mineral value addition, digital services, logistics and enterprises ready to grow,” said Dr Kalapurakal.
She said it is commendable that a lot of work has been done in record time to improve the environment in which those assets can attract investment. Dr Kalapurakal noted that among ZIDA’s investment facilitation reforms include the move to digital licensing, greater transparency through eRegulations, the One Stop Investment Services Centre, and a dramatic reduction in licensing turnaround from 21 days to five. “These are practical reforms because, for an investor, time, cost, transparency and predictability matter. So, the direction of travel is encouraging.
The hard work now is to turn both opportunity and reform into a stronger pipeline of investable transactions,” said Dr Kalapurakal.