Windhoek
On February 25 Standard Bank Namibia handed a record amount of N$988 400 to the Forum for African Women Educationalists in Namibia (FAWENA).
FAWENA is one of the key corporate social investment (CSI) beneficiaries of the Standard Bank Namibia Foundation. Through this partnership Standard Bank Namibia is supporting the secondary education of over a thousand orphans and vulnerable children in all 14 regions of Namibia.
“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 seen the fruits of the learners who have graduated from school and are 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,” Mungunda said.
As a good corporate citizen, Standard Bank Namibia pledges 1 percent of profit after tax of its business operations to the Standard Bank Foundation.
The funds are ploughed back to the communities in which the bank carries out its business activities. The strategic focus of Standard Bank’s Corporate Social Investment programme is on education, entrepreneurship development, poverty alleviation and health and wellness.
Upon receiving the handsome contribution, Minister of Education, Arts and Culture Katrina Hanse-Himarwa applauded Standard Bank for stepping up and actively investing in Namibia’s future by investing in future leaders.
“Since the inception of Standard Bank’s sponsorship a total of 885 beneficiaries have graduated from secondary school. I want to express my profound gratitude to Standard Bank. Many of these learners have become productive citizens, such as engineers, doctors, nurses, teachers and business people, and some are still busy with their studies at university,” said Hanse-Himarwa.
Standard Bank started supporting orphans and vulnerable boys and girls through FAWENA from 2009 until 2013 with a total of N$8 million. In 2014, the bank also re-committed itself to sponsor the organisation with a total of N$5.7 million for the period 2014-2022 (9-year contract) of which N$988 400 is earmarked for 2016 alone for 607 learners ranging from Grade 8 to 12 from all 14 regions of the country.