By Phiwa Sikhondze
Standard Bank Eswatini has announced a significant commitment to the country’s sustainable development through its Corporate Social Investment (CSI) initiatives, investing E2.5 million towards key projects in 2024.
This move underscores the bank’s ongoing efforts to contribute to the United Nations Sustainable Development Goals (SDGs) and to drive positive social impact within the Kingdom.
Mlamuli Hlatshwayo, the Head of Business and Commercial Banking, speaking at the CSI Sponsorship Handover event on behalf of Standard Bank’s Chief Executive highlighted the critical role the bank plays in fostering community growth, stating that the sustainability and success of the bank are tightly intertwined with the prosperity and well-being of the broader society.
“We believe that the bank’s sustainability and success are inextricably linked to the prosperity and well-being of all emaSwati. Our Corporate Social Investment strategy is consistent with our mission to drive sustainable growth in Eswatini, contributing to our society’s needs and priorities,” Hlatshwayo emphasized.
Standard Bank’s CSI strategy for 2024 spans several critical areas, including education, health, arts and culture, community development, women’s empowerment, entrepreneurship, climate change, and financial inclusion.
In 2023 the bank invested more than E1.5 million across various initiatives aligned with the aforementioned pillars, making a significant impact on the communities involved. This year, the bank has pledged to expand its reach and invest an additional E2.5 million towards initiatives that are sustainable in both social and environmental terms.
One of the key areas Standard Bank is focusing on is youth empowerment. Through partnerships with organizations like Junior Achievement Eswatini, ENACTUS, the United Nations Development Programme (UNDP), and the United States Agency for International Development (USAID), the bank is helping young EmaSwati gain access to critical skills development and training.
“We are deliberate about creating opportunities for our youth through job creation and entrepreneurship. We are committed to increasing access to financial education for youth-led enterprises and supporting game-changing startups to solve real-world problems,” Hlatshwayo said.
This initiative aims to equip young people with the tools they need to thrive in an increasingly digitized world, with a particular focus on developing in-demand skills and ensuring equitable participation of women in the economy.
In addition to its youth empowerment initiatives, Standard Bank has also pledged its support to the health sector, particularly in the fight against malaria. Eswatini is one of the countries targeting malaria elimination by 2025, and Standard Bank’s contribution to the End Malaria Fund demonstrates its commitment to this national goal.
The bank has committed E150,000 to support the End Malaria Fund’s efforts, which have already resulted in significant reductions in malaria cases and deaths across the country.
“Our contribution will support historic progress towards the National End Malaria goal and participate in achieving what would be one of the greatest health and humanitarian accomplishments – ending malaria within our generation,” Hlatshwayo remarked.