Standard Bank invests over N$1m in coaching talent

Standard Bank Namibia (SBN) has invested N$1.8 million into coaching talent for senior managers and executives, the chief executive officer Vetumbuavi Mungunda has said.

Over 40 staff members have undergone the coaching development programme in the past two years with more taking part this year, he said.

“Leadership team regularly interacts with the workforce in the monthly Tuyende sessions and the executive roadshows held twice a year. These efforts enable us to identify talent and build a succession planning pipeline,” he stated.

He added that to reward and motivate employees further SBN introduced preferential employee rates for housing and car financing as well as discounted transaction fees.

Meanwhile, Mungunda has said that Namibia’s macroeconomic environment deteriorated throughout 2017 compounded by scarce local liquidity and shaper than expected contractions in construction, wholesale and retail trade.

“Growth is expected to resume and accelerate to about 4% by 2020 due to recovery in the wholesale and retail trade sectors along with mining sector growth. We believe that the Namibian government could speed up the recovery through structural changes to reduce government expenditure. Trimming down the number of state owned enterprises through divestitures, listings and expenditure and raising capital. This bold move should complement and partially finance increased investment into water and electricity infrastructure,” he stated.

He added that SBN recognises that good governance is paramount to creating , protecting and sustaining shareholder value.