STANBIC BANK ENCOURAGES RETIREES TO PLAN FOR A SECURE AND DIGNIFIED FUTURE

Some retirees and financial experts listen to Stanbic Bank Senior Sales Manager, Priscus Kavishe, at the Retirees’ Forum organized by Stanbic Bank Tanzania, aimed at providing financial and insurance services to retirees in the country.

Dar es Salaam, September 26, 2025 – Retirees and those approaching retirement in Tanzania have been urged to focus on sound financial planning, insurance solutions, and investment strategies to secure a dignified and prosperous life after their working years.

This message was at the heart of the Retirees’ Forum organized by Stanbic Bank, which brought together retirees, financial experts, and stakeholders from various sectors to discuss practical ways to prepare for life after retirement. The event was part of Stanbic’s 30th anniversary celebrations in Tanzania, under the theme “30 Years of Growing Together.”

Focus on Hekima Banking

The discussions centered on Hekima Banking, a dedicated account launched by Stanbic for individuals aged 55 and above. The account provides retirees with easy access to banking transactions, savings, credit facilities, financial advice, and investment options.

According to Priscus Kavishe, Senior Sales Manager at Stanbic Bank, the initiative is designed to offer retirees both security and opportunity:

“At Stanbic Bank, we believe retirement is not the end, but the beginning of new opportunities. Through Hekima Banking, we provide retirees with practical solutions that enable them to live with dignity, invest wisely, and continue making meaningful contributions to their families and communities.”

The Hekima account has no monthly fees, no minimum balance requirement, supports multiple currencies, and offers 24/7 digital banking services. Retirees can access loans up to TZS 80 million on favorable terms, with pensions serving as collateral. In addition, retirees can apply for health insurance and other insurance products.

Insurance as a Pillar of Retirement Security

The importance of insurance was emphasized by Naphtal Ntangeki, Stanbic Insurance Officer, who noted:

“Safe retirement is not built on savings alone. Insurance gives retirees the confidence to plan for the future without fearing financial shocks. At Stanbic, we integrate insurance into our solutions so that retirees can live their post-retirement years with stability and dignity.”

Positive Reception from Participants

Forum participants praised the initiative, highlighting its practical benefits. Michael Liymbo from KPMG described the forum as highly informative:

“Today’s forum opened my eyes. I’ve learned how Hekima Banking and insurance services can help retirees not only protect their finances but also live a dignified life. Stanbic’s initiative truly benefits current professionals and future retirees alike.”

Part of Stanbic’s 30-Year Journey in Tanzania

The Retirees’ Forum is part of Stanbic Bank’s year-long activities celebrating 30 years of operations in Tanzania. Beyond commemorating its history, the bank uses the milestone to launch solutions aligned with Tanzania’s Vision 2050, aiming to promote financial inclusion, stability, and improved quality of life for all citizens.