STD BANK’S E2.5M IMPACT, FOCUS ON JOB CREATION

EZULWINI – Standard Bank Eswatini has set aside E2.5 million to contribute through CSI towards sustainable initiatives.

The largest chunk of this investment goes into creating opportunities for the youth through job creation and entrepreneurship. Standard Bank Eswatini Head of Business and Commercial Banking Mlamuli Hlatshwayo, said as a bank, they are committed to increasing access to financial education for youth-led enterprises and supporting game-changing startups to solve real-world problems. Hlatshwayo was representing the bank’s Chief Executive (CE), Mvuselelo Fakudze, during the CSI sponsorship handover event held at the Royal Villas Hotel yesterday.

Hlatshwayo highlighted that in 2023, they invested more than E1.5 million in various initiatives aligned with their CSI pillars. He said these programmes make a difference in the lives of beneficiaries and connect the communities to their brand. He said the CSI investment excludes contributions to sponsorships supporting arts and culture in the country, such as the Standard Bank Luju Food and Lifestyle Festival. He said as a bank, they are committed to increasing access to financial education for youth-led enterprises and supporting game-changing startups to solve real-world problems.

“We are intentional about supporting Eswatini’s young people to gain access to the skills development and training they need to thrive in an increasingly digitised world,” said Hlatshwayo. He mentioned that they have a specific focus on developing in-demand skills and ensuring equitable participation of women in the economy. He said their aim is to do their part in reducing inequality and lowering the high youth unemployment rate in the country. Hlatshwayo said they support initiatives that increase the youth’s productivity, creating decent jobs, encouraging entrepreneurship, creativity and innovation. “We encourage young people to participate in the various programmes that provide access to entrepreneurship education and training, that will equip them with the requisite skills to navigate the business world effectively,” he said.

Hlatshwayo added that through these initiatives, they have seen young emaSwati travelling regionally and internationally to compete and network with peers; expanding their perspectives and fostering global mindsets to turn social issues into effective enterprises and the skills to create businesses Eswatini can be proud of. He said their role in supporting the leaders of tomorrow starts today, through long-term partnerships with various organisations such as Junior Achievement (JA) Eswatini, Enactus, the United Nations Development Programme (UNDP) and USAID. Hlatshwayo said they believe that the bank’s sustainability and success are inextricably linked to the prosperity and well-being of all.

He said they are committed to ensuring that their CSI strategy is consistent with their mission of driving sustainable growth in Eswatini and contributing to society’s needs and priorities, as expressed by the United Nations Sustainable Development Goals (SDG). He said their efforts to achieve a positive impact were underpinned by careful identification, management and mitigation of environmental, social and governance (ESG) risks. He said their CSI strategy incorporates strategic projects and community investments. He said they continue to invest in programmes, working with partners in government and society to support priority areas such as education, health, arts and culture, community development, women empowerment, entrepreneurship, climate change and financial inclusion.

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