Financial agenda to erase poverty

Standard Bank Namibia Chief Executive Vetumbuavi Mungunda (left) hands a symbolic brick to First Lady Monica Geingos (right) witnessed by the national facilitator of the Shack Dwellers Federation Edith Mbanga.

Standard Bank Namibia launched the “Standard Bank Buy-a-Brick Project” in Windhoek this week. The proceeds go to the Shack Dwellers Federation. The bank and the federation has a relationship covering the past eight years.

The Buy-a-Brick project was launched jointly by Standard Bank’s CEO Vetumbuavi Mungunda and the First Lady, Monica Geingos as the patron of the federation.
Through the sale of token bricks in the form of erasers at N$5 per “brick”, the project aims to mobilise the private sector and the public to raise funds for the federation to build affordable housing for the poor. The token bricks are sold as erasers symbolising the erasing of poverty.
“The Standard Bank Buy-a-Brick initiative is borne out of a continual assessment of our CSI initiatives and their relevance to the challenges of our time as a country, community and bank. This initiative falls well in line with our theme of “moving communities forward”. What better way of moving communities forward than to assist the less fortunate members of our nation to obtain decent homes? We have a duty to assist to move members of our communities into a decent home and we also saw it befitting to launch this initiative this year when we mark our 100 years anniversary in Namibia,” said Mungunda.
He added that this not only speaks to addressing the housing shortage but also poverty eradication in the country. Despite the fact poverty levels have declined from 70% to around 30% over the past 17 years, poverty remains. That is why the Buy-a-Brick initiative is sounding the call for poverty eradication, encouraging everybody to play a part in making a difference.
Geingos commended Standard Bank saying. “When we look at our communities there are people who can not afford low income houses. What Standard Bank is doing is a creative and worthwhile initiative for uplifting poor communities.”
Standard Bank Namibia said it has been a development partner with the Shack Dwellers Federation of Namibia and the Namibia Housing Group Alliance since February 2007.