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SBN invests N$4million in charity

Mon, 7 July 2014 02:18
by
Business



As part of its corporate social responsibility, Standard Bank Namibia has a total budget of N$4m to invest in charity organisations in the country this year.
This announcement, which also coincided with the launch of the bank’s 2013 Corporate social investments (CSI) Report - was made by Standard Bank Namibia’s Chief Executive Junius Mungunda at the bank’s CSI programme launch last week.  
“Through our CSI initiatives here at Standard Bank Namibia we firmly believe in moving our communities forward by ensuring that they too enjoy improved livelihood and success. It is only in this way that we can all collectively assist our Government in meeting its national developmental goals and ensure social economic development,” said Mungunda.
Mungunda said as a good corporate citizen, Standard Bank Namibia pledges 1% of net profit generated by its business operations to CSI initiatives. He said the strategic focus of the bank’s CSI programme is mainly focussed on four key areas namely; education, entrepreneurship development, poverty alleviation and health and wellness.
“At all times as a bank we aim to establish and foster relationships with beneficiaries that goes beyond once-off donations so as to have greater impact and sustainability. It is through these financial contributions that we want to make a meaningful contribution towards the lives of disadvantaged communities in the country,” he said.
Five local CSI charities also received financial contributions at the launch namely; Forum for African Women Educationalists in Namibia (FAWENA) obtained N$1.341 600 for advancing education amongst disadvantaged learners.
Namibia Red Cross Society (NRCS) was donated N$100 000 to address natural disasters relief operations due to drought and floods in the country.
Financial Literacy Initiative (FLI) received N$250 000 for the promotion financial literacy skills amongst Namibian learners.
San Development Trust under the Deputy Prime Minister’s Office received N$120 000 for marginalised San school children.
Katima Mulilo Shelters received N$1.5m to construct of student nurses’ home near Katima Mulilo Hospital.