Stanbic Bank invests GH¢6.5m in community projects

Stanbic Bank Ghana has announced an investment of GH¢6.5million in community projects and initiatives across the country. Spanning education, health, youth empowerment, financial literacy, entrepreneurship, agriculture and youth enablement, these initiatives aim to contribute to the development of communities in which the bank operates. This was contained in the bank’s Annual Results Statement and CSI Report for 2023.

According to the 2023 CSI Report, the bank’s CSI spend is in line with its purpose of driving Ghana’s growth. The report said: “We are working to continuously increase the positive social, economic and environmental (SEE) impacts arising from our business activities and ultimately increase our social capital. Stanbic Ghana’s purpose – Ghana is our home, we drive her growth with best in-class solutions – is both a statement of why we exist and a description of what we do every day. We are committed to forging a sustainable growth path that benefits both current and future generations. We have embedded the consideration of social, economic and environmental (SEE) impacts into our business strategy and decision-making processes. We take our responsibilities to society and the environment seriously, and we commit to being transparent and accountable for our impacts”.

In education, the bank engaged in the delivery of three STEM projects (Laptops donations to KNUST and University of Ghana, 5-day Bootcamp for SHS Girls, 3-day Stanbic-GIMPA Hackathon) and the support of academic and infrastructural needs of numerous educational institutions across the country. In the area of health, the bank contributed toward quality healthcare delivery by donating ventilator machines, supporting the Child Cancer Units of Ridge Hospital and Korle Bu Teaching Hospital. The bank also paid for treatment cost for several patients, financed healthcare providers’ participation in international conferences and medical exchange programmes, as well as supported development of health-related infrastructure in Ghana.

As one of the foremost financial institutions in the country, Stanbic Bank has committed to ensuring that the vast majority of Ghanaians have access to financial literacy, which is key in reducing inequality. In keeping with this commitment, the bank provided consumer education and financial literacy to help people make more informed decisions. As a keen interest area, the bank supported radio stations across the country to deliver financial literacy programmes. They also organised four quarterly breakfast meetings to discuss socio-economies issues, reaching millions of Ghanaians through radio, TV and social media broadcasts.

In acknowledgement of the critical role small businesses play in the economy of the country, Stanbic Bank, in 2023, gave over 5000 SMEs access to existing and potential clients by partnering with the Volta Regional Coordinating Council to organise the 5^th Volta Fair. 1000s of female-led enterprises benefitted from trainings, insights and opportunities from a 4-week meet and greet event that brought together approximately 3000 women entrepreneurs to network, learn and sell. Over 1000 young enterprise owners also benefitted from the bank’s business incubator programmes at the SBIncubator.

In 2023, Stanbic Bank continued financing agriculture and empowering small and medium enterprises (SMEs) in the sector to ensure sustenance of the sector as the main driver of the country’s economy. The bank continues with its 16-year tradition of supporting the National Farmers’ Day celebration with a Massey Ferguson MF 375 tractor to the Ministry of Food and Agriculture (MoFA). The bank also planted over 2000 trees across the country toward mitigating the impacts of climate change, and improved access to reliable and sustainable energy sources.

Aside from offering the youth learning experience, equipping them with education and skills required for the modern world of work through internships, the bank also took great interest in youth talent development. Largely focusing on sports, Stanbic Bank supported various tournaments across all sports disciplines, which helped young Ghanaians to demonstrate their talents on a highly-competitive levels, build their confidence through the sport they love and, of course, find and cement bonds with their community of fellow players.

These strategic investments show that Stanbic Bank Ghana’s commitment to the country goes beyond financial services. The bank, through its community engagements and initiatives, is fostering positive change across the nation. By working in close collaboration with communities, Stanbic Bank is not just driving Ghana’s growth, but also weaving itself into the very fabric of the country’s socio-economic development story.

The post Stanbic Bank invests GH¢6.5m in community projects appeared first on The Business & Financial Times.

Read Full Story