Standard Chartered Bank Zimbabwe, has started working on its optimisation strategy by starting work on refurbishing nine branches across the country this year.
Standard Chartered Bank, which is Zimbabwe’s oldest financial institution, developed a strategy that is aimed at reducing excess space by creating lean and cost effective branches with more emphasis on digital touch points. Lillian Hapanyengwi, the bank’s Head of Corporate Affairs , revealed that the financial institution would spend $6.5 million on the project this year.
A total of 12 branches would be renovated under the optimisation project. Three of the branches have already been completed which are Robert Mugabe Branch in Harare, Gweru and Bulawayo. Outstanding renovations to still be done and completed include branches in Marondera, Mutare, Kadoma, Kwekwe, Bindura, Chiredzi, Victoria Falls, Masvingo and Africa Unity Square.
The bank has a network of 21 branches across the country, most of which are located in major urban centres. The bank’s distribution network includes branches and prestige centres as well as 37 automated teller machines.
Speaking at the launch of the refurbished Robert Mugabe branch last week, which was first opened in 1892, Ralph Watungwa, the bank’s Chief Executive Officer said: “Investing in refurbishing branches is a very important undertaking for us. This is a physical presentation of our desire to spend more years (in Zimbabwe).
It demonstrates our commitment and our confidence in the future. We are here for our customers and here for the long run. We are also here for progress.
This is why we continuously strive to bring innovative solutions to meet our customers’ evolving needs.”
The Reserve Bank of Zimbabwe (RBZ) deputy governor, Charity Dhliwayo, said “The RBZ appreciates the initiative by the bank to enhance its service for convenience of the bank’s customers.
The ambiance, atmospherics and design of a bank’s facilities provide tangible cues about its service quality and capability of the institution to deliver satisfactory products and services. I strongly believe that the refurbished branch will enhance Standard Chartered Bank’s strategic thrust, image and competitive position in the market.”
