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Stanbic Extends Help To Exporters By Funding 60% Of Their Working Capital Needs

By Alvine Chaparadza

Stanbic Bank announced on Monday that it is increasing its support to exporters by offering them 60% of working capital to satisfy their capital needs.

Stanbic’s move is partly a response to the concerns that exporters expressed earlier this year in February concerning their struggle to access export facilities and which in turn is strangling the growth of their exports. Stanbic head of personal and business banking, Patson Mahachi said:

A few players in industries such as horticulture, hides and skin exporters closed shop as they struggled to acquire the required capital to fund their ventures, yet there is …read more

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