Stanbic Bank funds Zimbabwe mining with US$227m as gold, lithium projects expand

Stanbic Bank funds Zimbabwe mining with US$227m as gold, lithium projects expand

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Stanbic Bank says it provided US$227 million in financing to Zimbabwe’s mining sector in 2025, as companies pursued expansion projects, production upgrades and efficiency improvements in minerals including gold, lithium, platinum and chrome.

The bank’s chief executive, Solomon Nyanhongo, said the scale of support reflected confidence in the mining industry’s ability to generate foreign currency and sustain long-term growth.

“Over the past year, Stanbic Bank has significantly strengthened its financial support to the mining sector. In 2025 alone, we extended credit facilities to this critical sector amounting to a total of US$227 million,” Nyanhongo said.

He said the bank’s role was not limited to providing capital, but also included advisory work and structured financial solutions aimed at supporting both established and emerging mining operators.

“Our contribution goes beyond financial capital. We continue to provide advisory services, structured solutions, and tailored support across the mining value chain, enabling both large-scale and emerging operators to unlock value, improve efficiencies, and expand sustainably,” he said.

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Mining remains one of Zimbabwe’s largest economic sectors, contributing to export receipts, employment creation and industrial development. The industry has also attracted increased interest from local and foreign investors seeking opportunities in critical minerals.

Nyanhongo said Stanbic’s engagement with the Chamber of Mines dates back to 2005, with the bank working with the organisation on industry engagements and policy dialogue.

He added that Stanbic’s position within the Standard Bank Group and its strategic alliance with the Industrial and Commercial Bank of China was helping link Zimbabwean mining firms to international markets, capital and technical expertise.

“This unique positioning enables Stanbic Bank to connect Zimbabwe’s mining sector to global capital, international markets, and technical expertise. It allows us to deliver not only funding, but end-to-end solutions that span advisory, infrastructure financing, and cross-border trade facilitation, unlocking opportunities that extend beyond the domestic market,” he said.

Nyanhongo said Stanbic would continue backing the sector through what he called innovative financial solutions and partnerships designed to support growth and sustainability.

“Stanbic Bank remains focused on continuing to support the mining sector with innovative financial solutions, strengthening strategic partnerships, and contributing meaningfully to Zimbabwe’s growth agenda,” he said.

He added: “We are not just financiers, but long-term partners in the journey towards growth, resilience, and shared prosperity.”

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