Standard Bank Namibia unveils 2024 CSI allocations

Standard Bank Namibia has outlined its corporate social investment (CSI) blueprint for the year, earmarking N$6.8 million for diverse community development undertakings. This initiative, aimed at fostering inclusive growth and sustainable development in Namibia, was disclosed by the bank&#039;s CEO, Erwin Tjipuka."Our objective is to effect positive change across societal, economic and environmental domains, thereby propelling inclusive growth," Tjipuka said."We are steadfast in allocating at least 1% of our post-tax profits towards CSI endeavours, translating to a commitment of N$6.8 million for 2024, both directly and indirectly,” Tjipuka stated.Tjipuka underscored the bank&#039;s stringent selection criteria for partners and projects, emphasising alignment with strategic and national objectives. "Our commitment is to effect enduring, positive change," reiterated Tjipuka. "We prioritise effectiveness, scalability, and sustainability in our decision-making process, ensuring impactful outcomes for the communities we serve."Urgent help providedThe allocated funds will be channelled into the bank&#039;s primary investment pillars, encompassing education, health, community development and entrepreneurship. Under the education umbrella, the Forum for African Women Educationalists Namibia (FAWENA) received N$1.5 million for its Blue Child Champion Programme, which stands to benefit approximately 400 students across 56 secondary schools.The programme aims to provide comprehensive support, including school uniforms, toiletries, educational and psychosocial assistance, mentoring and early education development for children with disabilities.In the health sector, the bank reiterated its commitment to the Cancer Association of Namibia with a N$700 000 contribution towards its Circle of Hope project, aiding cancer patients and their families, as well as needles for CAN’s breast cancer screening unit. Furthermore, N$250 000 was allocated to the Nampharm Foundation, facilitating free surgical procedures for children afflicted with facial deformities. Carol Musarurwa, manager of the Nampharm Foundation, expressed gratitude, highlighting that this support would cover the cost of 10 surgeries, up from 30 done annually.Community, individual supportThe Hockey Development Programme was allocated N$600 000 to bolster grassroots sports initiatives in public schools. Meanwhile, Hope Village, a sanctuary for 75 orphans, will continue to receive N$400 000 in support, upholding a longstanding partnership with Standard Bank dating back over 15 years.In the realm of entrepreneurship, Standard Bank has earmarked N$1 million for mentorship programmes targeting high-potential SMEs, trade training initiatives, and agricultural training for women from informal communities. Additionally, the bank has allocated N$700 000 for staff-led community engagement initiatives.Notably, Standard Bank reiterated its commitment to its flagship Buy-A-Brick initiative, committing N$2.5 million to the Namibia Housing Action Group Trust and Shack Dwellers Federation of Namibia. This initiative, launched in 2015, aims to raise funds for constructing houses for members of the federation. While a total of N$2.5 million was committed to the Buy-A-Brick initiative, Standard Bank&#039;s contribution constitutes N$1.5 million, with the remaining balance sourced from supporting partners.

Standard Bank Namibia unveils 2024 CSI allocations

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Namibian Sun 2025-04-17

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Standard Bank Namibia unveils 2024 CSI allocations

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Namibian Sun 2025-04-17

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