Standard Bank plc says business survival during and after the coronavirus (Covid-19) outbreak will depend on how best firms manage the disruption in the supply chain and navigate new opportunities for growth.
The bank’s head of business banking Graham Chipande said this last week during a Facebook Live interaction where he discussed how the banking industry is crucial to the economic recovery and resilience in the face of the Covid-19 pandemic.
The interaction dubbed We Stand With You highlighted key areas of focus if businesses are to come out of the uncertain times with enough leverage to move forward.
Said Chipande: “As a bank, we are driving a new conversation that will help businesses push up their abilities to better respond to the pandemic and navigate their way towards new opportunities.”
He said the Malawi Stock Exchange (MSE)-listed bank’s immediate focus is to help customers manage disruptions to existing supply chains while exploring new areas of growth.
“We are driving growth by ensuring that we partner with our clients to ensure that we open as many doors for Malawians to drive their growth through the various solutions we provide,” said Chipande.
In an earlier interview, Malawi Confederation of Chambers of Commerce and Industry (MCCCI) chief executive officer Chancellor Kaferapanjira warned that firms are likely to experience a slowdown in business arising from Covid-19 pandemic.
He said those that depend on imported raw materials and those involved in export business will likely be hugely affected.
Besides responding to mandatory orders, Standard Bank plc is also serving customers through a range of products and services that already signify a new approach of utilising the digital sphere to serve customers.
These include cash deposit machines, point of sale machines, Aramex shop-and-ship service, digital loans and virtual branches.