Stanbic bank expands national presence with nrew branch in Geita

GRITA: Stanbic Bank Tanzania has officially opened a branch in Geita, a region of strategic importance in Tanzania’s mining and agricultural sectors.

This becomes the bank’s 15th branch as part of the bank’s ongoing commitment to enhancing financial inclusion and driving sustainable economic development across the country.

The branch was inaugurated over the weekend by the Minister for Minerals, Anthony Mavunde marking a significant milestone as the bank celebrates 30 years of operation in Tanzania.

The move underscores Stanbic Bank’s mission to provide innovative and personalized financial solutions that support local communities, empower businesses, and contribute to national growth.

As the third largest bank in Tanzania, Stanbic Bank continues to demonstrate strength, stability, and leadership in delivering comprehensive financial services.

“Geita was strategically selected for expansion due to its vital contribution to Tanzania’s economy, especially in gold production and agriculture. By establishing a presence in this dynamic region, Stanbic Bank is bridging financial access gaps through tailored services for miners, farmers, entrepreneurs, and individuals—supporting trade, investment, and enterprise development,” said Fredrick Max, Stanbic Bank Head of Business and Commercial Banking during the launch event.

“Now that we have become part of the Geita community, and in line with our commitment to giving back to society, today we have donated 200 school desks that will benefit students in this region, supporting the Government’s efforts to create a better learning environment for our children.

Additionally, we have provided 200 tree seedlings to be planted in schools and community spaces as part of our contribution to environmental preservation and sustainable development for future generations.” he added.

Speaking after officially inaugurating the branch in Geita, the Minister of Minerals, Anthony Mavunde, expressed his appreciation upon learning that the bank aims to serve not only large corporations but also small-scale miners, women entrepreneurs, and farmers who require modern financial services to grow their capital and improve their livelihoods.

“The Government, through the Ministry of Minerals, continues to strengthen the investment environment and foster collaboration between the public and private sectors. We are ready to work with institutions like Stanbic Bank to ensure that every player in the mining value chain is empowered and supported,” he stated.

Stanbic Bank has been a longstanding partner in Tanzania’s key economic sectors. In mining, the bank has provided structured financial support to large-scale operations and SMEs in the value chain—enhancing equipment upgrades, capital investments, and operational sustainability.

In agriculture, the bank’s Agribusiness arm has empowered smallholder farmers and agribusinesses with access to modern tools, irrigation systems, and inclusive financial services, strengthening food security and market access.

Speaking at the event, Geita Regional Commissioner, Martin Shigella, remarked: “The presence of Stanbic Bank here is no small matter. It is a testament that this region is recognized as a place of opportunity, resilience, and significant potential to contribute meaningfully to the national economy.”

“For several years, we have worked to ensure that the investment environment in this region is conducive, transparent, and strongly supported by the regional government. When we welcome institutions like Stanbic, we also embrace the responsibility to ensure they succeed and make a direct impact on the lives of our people,” he concluded.