Nedbank Group sees Zimbabwe as a great place for foreign money. Their local branch plans to keep helping important parts of the economy grow. Dr. Terence Sibiya from Nedbank Group said during an online meeting about 2024 money results that his team wants to match funding with what Zimbabwe needs. They believe Zimbabwe remains ready for business deals.
The bank focuses on areas it does well, like building roads, funding projects, backing energy plans, and lending cash to growth drivers. Dr. Sibiya mentioned that it also wants to help small businesses and medium-sized companies in the future. He strongly believes Zimbabwe offers huge chances in key areas that push economic progress, which Nedbank Zimbabwe will support with help from its parent company.
Using US dollars as one main currency lets Nedbank Zimbabwe assist productive areas of the economy. Dr. Sibiya explained that demand from farming, mining, building projects, energy, and their clients continued despite problems. They kept lending through tobacco season to merchants and farmers who drove GDP growth. The bank never stopped serving customers despite challenges.
Nedbank runs businesses across the region beyond South Africa. Each country brings different issues at various times. Mozambique once grew at 6.5 percent yearly but slowed because of political troubles. These problems reduced imports at Maputo and Beira ports. Still, Mozambique offers big opportunities despite current difficulties.
Zimbabwe faced currency problems and sometimes lacked foreign money. The bank switched to digital systems to continue serving people there. Dr. Sibiya said different countries present various opportunities at different moments. Local branches must respond to market needs wherever they operate. Money supply issues happen worldwide, not just in Zimbabwe.
The bank works closely with Zimbabwe's central bank on these matters. Dr. Sibiya explained they help clients change the South African Rand or provide foreign currency support. Their good relationship with Reserve Bank officials means they can assist customers and improve market liquidity. Through partnership with the central bank, they continue playing an important role in supporting Zimbabwe's economy.
The bank focuses on areas it does well, like building roads, funding projects, backing energy plans, and lending cash to growth drivers. Dr. Sibiya mentioned that it also wants to help small businesses and medium-sized companies in the future. He strongly believes Zimbabwe offers huge chances in key areas that push economic progress, which Nedbank Zimbabwe will support with help from its parent company.
Using US dollars as one main currency lets Nedbank Zimbabwe assist productive areas of the economy. Dr. Sibiya explained that demand from farming, mining, building projects, energy, and their clients continued despite problems. They kept lending through tobacco season to merchants and farmers who drove GDP growth. The bank never stopped serving customers despite challenges.
Nedbank runs businesses across the region beyond South Africa. Each country brings different issues at various times. Mozambique once grew at 6.5 percent yearly but slowed because of political troubles. These problems reduced imports at Maputo and Beira ports. Still, Mozambique offers big opportunities despite current difficulties.
Zimbabwe faced currency problems and sometimes lacked foreign money. The bank switched to digital systems to continue serving people there. Dr. Sibiya said different countries present various opportunities at different moments. Local branches must respond to market needs wherever they operate. Money supply issues happen worldwide, not just in Zimbabwe.
The bank works closely with Zimbabwe's central bank on these matters. Dr. Sibiya explained they help clients change the South African Rand or provide foreign currency support. Their good relationship with Reserve Bank officials means they can assist customers and improve market liquidity. Through partnership with the central bank, they continue playing an important role in supporting Zimbabwe's economy.
