Standard Bank Clocks 55 Years, Pledges to Drive Inclusive Wealth
Standard Bank's corporate social investment agenda aims to improve welfare through health, education, financial and gender inclusion, youth and sustainable development initiatives.
LILONGWE, Malawi -- Standard Bank Plc, which opened its first branch in Limbe on April 11, 1970, is commemorating 55 years in Malawi and pledging to continue driving the country's vision of achieving inclusive wealth and self-reliance by 2063, writes Frank Phiri.
"As we continue to steer Malawi towards achieving the status of an inclusively wealthy and self-reliant nation, we pledge to do so in a manner that is responsible and sustainable," the bank said in a statement marking its 55th anniversary.
Standard Bank said the commemoration of its foundations is "a platform to reaffirm commitment and responsibility towards growing together with Malawi."
To provide solutions to Malawi's emerging problems, the bank is strengthening partnerships with key stakeholders through its Standard Bank Leadership Round Table series, a platform for engaging them "to generate consensus for collective action on national development."
"The Standard Bank Leadership Round-Table discusses policy reforms specifically designed to trigger economic recovery, growth, and sustainable development of the country," the statement said.
Recent reforms facilitated by the round-table include a visa waiver by the government to boost tourism revenue, fast-tracking of mining agreements and policies, and boosting local export capacities.
The bank said it has repositioned itself to provide financing tailored to national growth in key sectors like agriculture, trade, tourism, infrastructure and financial services.
It cited its role as joint lead financier of the Mzimba/Kenyatta road project in Lilongwe, which "promises to transform the city's transport corridors and commerce."
"This is one of the many long-term infrastructure projects undertaken by Standard Bank that demonstrates our capacity to take on large projects of national public interest," the statement said.
Standard Bank's corporate social investment agenda aims to improve welfare through health, education, financial and gender inclusion, youth and sustainable development initiatives, it said.