Stanbic Bank Zimbabwe has expanded its footprint in Zimbabwe’s tobacco sector after adding 13 new remote branches for the 2026 marketing season, bringing the total number of temporary banking facilities countrywide to 27 in a move aimed at easing transactions for thousands of farmers and merchants.

The expansion comes as tobacco deliveries gain momentum following the opening of the marketing season in March, with financial institutions strengthening support services for growers who underpin one of Zimbabwe’s largest export industries.

The new remote branches, commonly referred to as implants, have been established in Marondera, Macheke, Rusape, Banket, Chinhoyi, Bindura, Mhangura, Mutoko, Chivhu, Mt Darwin, Mvurwi, Karoi and Guruve, placing banking services closer to farming communities and major tobacco merchant hubs.

Stanbic introduced the seasonal facilities in 2021, targeting key auction floors and merchant centres to reduce travel costs and improve financial access for farmers operating in remote areas.

The temporary branches are operating from major tobacco sales floors and merchant sites including Zimbabwe Leaf Tobacco, Mashonaland Tobacco Company, Boost Africa, Curverid Tobacco and Northern Tobacco.

Stanbic Bank Head of Personal and Business Banking Nelson Muhau said the expansion was designed to improve convenience and financial inclusion during the peak tobacco marketing season.

“These temporary branches offer easy access to cash for tobacco farmers and merchants, help decongest main sales floors and significantly reduce travel time for those in remote areas,” said Muhau.

Before the rollout of remote banking facilities, farmers from areas such as Chivhu, Mt Darwin, Mutoko and Rusape travelled long distances to Harare to conduct transactions, increasing operational costs and delays.

Muhau said the initiative aligns with the financial inclusion agenda championed by the Reserve Bank of Zimbabwe, which seeks to widen access to affordable financial services among underserved communities.

“These remote branches reinforce our commitment to financial inclusion and inclusive economic growth by ensuring farmers can access banking services at their doorstep rather than crowding major auction floors,” he said.

The bank said the expansion particularly benefits smallholder farmers, who form the backbone of Zimbabwe’s tobacco industry and remain a priority group under the National Financial Inclusion Strategy.

Stanbic Bank remains one of the largest financial investment players in Zimbabwe’s tobacco value chain, providing more than US$405 million in offshore financing and US$20 million in onshore facilities to merchants and producers.

Tobacco remains one of Zimbabwe’s leading agricultural exports, contributing more than 10 percent to the country’s Gross Domestic Product.

Last year, the sector recorded a historic production high of 353 million kilogrammes, a 52.9 percent increase from 2024 levels, generating over US$1.17 billion in export earnings.

Of the total crop marketed, 333.2 million kilogrammes were sold under contract farming arrangements, while 19.8 million kilogrammes passed through auction floors, with China remaining Zimbabwe’s largest export destination.

With more than 135,000 registered tobacco growers — approximately 85 percent of them small-scale farmers — expanded banking access is expected to improve payment efficiency and deepen financial participation across one of Zimbabwe’s most critical economic sectors.