Stanbic Bank Tanzania has encouraged retirees and those approaching retirement to embrace sound financial planning, insurance, and investment strategies to ensure security and dignity in their later years.
The message was delivered at a Retirees’ Forum hosted by the bank in Dar es Salaam, which brought together retirees, financial experts, and sector stakeholders to exchange practical approaches to retirement readiness.
The event was part of the bank’s 30th anniversary celebrations under the theme “30 Years of Growing Together.”
A key focus of the discussions was Hekima Banking, a Stanbic account designed for individuals aged 55 and above.
The product provides simplified transactions, savings options, access to loans, and professional financial and investment advice.
Priscus Kavishe, Senior Sales Manager at Stanbic Bank, said the account was created to support retirees with both financial security and opportunities for growth.
“At Stanbic, we believe retirement is not the end but the beginning of new opportunities. Through Hekima Banking, we provide retirees with practical solutions to live with dignity, invest wisely, and continue making meaningful contributions to their families and communities,” he said.
The Hekima account carries no monthly fees, requires no minimum balance, and supports multiple currencies.
It also offers 24/7 digital banking services and access to loans of up to TZS 80 million, with pension benefits serving as collateral. Retirees can further benefit from health insurance and other coverage options.
Highlighting the role of insurance, Naphtal Ntangeki, Stanbic’s Insurance Officer, stressed that savings alone are not enough for retirement stability.
“Safe retirement is not built on savings alone. Insurance provides retirees with the confidence to plan their future without fear of financial shocks. At Stanbic, we integrate insurance into our solutions to ensure retirees enjoy their later years with stability and dignity,” he said.
Participants welcomed the initiative, noting that it offered valuable insights into financial preparedness. Michael Liymbo from KPMG described the discussions as eye-opening.
“I have learned how the Hekima Banking account and insurance services can help retirees not only safeguard their finances but also live dignified lives. Stanbic’s approach is truly beneficial to both current and future retirees,” he said.
The Retirees’ Forum is among a series of events lined up by Stanbic to mark 30 years of operations in Tanzania.
The bank said its anniversary is not only a celebration of its history but also an opportunity to introduce solutions aligned with the national Vision 2050, promoting financial inclusion, resilience, and improved livelihoods for Tanzanians.
