Coen Welsh | Nov 14, 2017 | 0
Record sponsor for education
Standard Bank Namibia last week gave the Forum for African Women Educationalists in Namibia (FAWENA) a massive N$988,400 injection.
FAWENA is one of the key corporate social investment beneficiaries of the Standard Bank Namibia Foundation. Through this partnership the bank is supporting the secondary education of over a thousand orphans and vulnerable children in all 14 regions.
“Our relationship with FAWENA started in 2009 with an initial commitment of over N$8-million. Since the implementation of this project, we have witnessed and see the fruits of the learners who have graduated from school and doing exceptionally well at tertiary institutions,” said Vetumbuavi Mungunda, Chief Executive of Standard Bank Namibia.
“Every year, almost half of Standard Bank’s CSI budget goes towards education through close links with the Ministry of Education.
This is especially evident through our contributions to FAWENA and the Academic Excellence programmes,” he said.
As a good corporate citizen, Standard Bank Namibia (SBN) pledges 1% of profit after tax of its business operations to the Standard Bank Foundation. The funds are ploughed back in the communities where the bank operates. The strategic focus of its Corporate Social Investment programme is on education, entrepreneurship development, poverty alleviation as well as health and wellness.
Upon receiving the handsome contribution, the Minister of Education, Arts and Culture Hon Katrina Hanse-Himarwa applauded Standard Bank for stepping up and actively investing in Namibia’s future by investing in future leaders.
Standard Bank supported orphans and vulnerable children through FAWENA from 2009 until 2013 with a total of N$8 million. In 2014, the bank re-committed itself to sponsor the organisation with a total of N$5.7 million for the nine years from 2014 to 2022 of which N$988,400 is earmarked for 2016 for the support of 607 learners ranging from Grade 8 to 12. Since the inception of the sponsorship a total of 885 beneficiaries have graduated from secondary schools.