Stanbic targets diaspora property investment through UK expos
HARARE – Stanbic Bank Zimbabwe is taking part in two property, trade and investment expositions to be held in the United Kingdom (UK) this week and next to unlock investment in residential and commercial property for people living in the diaspora. This week Stanbic will be participating at the Inaugural Nyaradzo Trade and Investment Fair where it will be exhibiting its Home Loans Product in Herdfordshire.
The Nyaradzo Trade & Investment Fair kicks off on Friday – 16 September and ends on Sunday – 18 September. Stanbic Bank Zimbabwe Head, Consumer and High Net Worth Clients, Nelson Muhau, said the institution has a mutually beneficial business partnership with Nyaradzo and this relationship has seen Stanbic Bank being invited to be one of the exhibitors at the Fair.
Muhau said Stanbic Bank will capitalise on the opportunity to meet Zimbabweans in the UK and draw their attention to the institution’s Diaspora Home Loans product. “Our Home Loans team will meet clients face to face and answer their questions as we advise them on the facilities through which they could build, renovate or purchase homes back home through Stanbic Bank Zimbabwe,” said Muhau.
The Standard Bank Group subsidiary is also the main sponsor of the Vaka- Ekhaya Property Investment Expo scheduled for 24 September in West Bromwich, UK. Muhau said the main thrust of the Vaka-Ekhaya Expo is to discuss Property investment opportunities in Zimbabwe. He said the Zimbabwe community in the United Kingdom presents a unique investment and development case as Zimbabweans abroad are always seeking for ways to have some form of investment back home.
“We believe this property expo, as intended, will afford them a platform to invest in residential and commercial property back home thereby opening streams of income, stimulate the property markets as well as bringing the
much-needed infrastructure development in the country,” said Muhau. Muhau will be one of the key note speakers at the Vaka-Ekhaya Expo sharing about property investments back home as the institution also plays its part in
bringing housing solutions for the diaspora.
The Bank offers mortgage finance to the diaspora for the acquisition of completed houses, construction of new properties, home and property improvements and equity release. “We are basically reaching out to our diaspora market. Those in the UK who want solutions back home in terms of housing and commercial properties. From a national perspective Stanbic is also playing its part in reducing the housing backlog which is around 1.4 million,” he said.