Corporate Social Investment
Our CSI initiatives are aimed at achieving and sustaining positive social development of the communities we operate in. Through various community interventions, our effective community re-investment will further reinforce our values and achieve our business objectives. Standard Bank Eswatini’s Corporate Social Investment expenditure is funded by an annual allocation of not less than one percent of the previous year's after-tax income from its profits. We take a keen interest in developing underprivileged communities within our footprint in line with our brand philosophy “Eswatini is our Home, we drive her growth”. Our CSI policy encourages employee participation in community development initiatives through the Employee Community Involvement program. CSI Focus pillars • Education • Entrepreneurship Development • Health and wellness • Sports • Arts and culture.
Choral Music Association (SNCMA)
Last year the Bank and Swaziland National Choral Music Association celebrated the 20th anniversary of their partnership in advancing arts and culture in Swaziland. Over 15 local choirs and approximately 90 000 local fans of choral music have benefited from the over E1,5 million spanning two decades that has been committed to this cause. A contribution of approximately E100 000 is made towards hosting the Standard Bank National Choral Music Championships as well choral music workshops run in schools and other activities of the SNCMA.
Entrepreneurship Development Programme
Standard Bank has contributed E100 000.00 towards the Junior Achievement international competition as part of our contribution towards the development of entreprenuership and innovation amongst our youth. Standard Bank thrives to forge public and private partnerships with local institutions that aspire to develop innovative expertise in an effort to grow the small medium Enterprise to develop Eswatini's economy. Eswatini is our Home, we drive Her growth.
3rd Technology Innovation and Sustainable Development Goals Conference
Standard Bank CE Mr Mvuselelo Fakudze has urged young people to use their man power for innovation and starting businesses.
Fakudze said this during the third Technology, Innovation and Sustainable Development Goals (TIS) dinner held at the Royal Swazi Convention Centre on Friday.
He said that there was a challenge amongst young people to think differently about a job environment.
“During my time when I went to university and looked for a job, they were in abundance compared to nowadays.
“People in business make money every day, hence a profit will make you a fortune, a salary will make you a living. If you are looking for a job and have not started utilising your man-power, I think there are a lot of opportunities in innovation and starting up businesses,” he said.
He further stated that he was overwhelmed with the number of job applications in his office and his linked-in account was mostly used by people looking for jobs at Standard Bank and there is only so much he can do.
“Our role as a bank is to ensure that your businesses can succeed, but please bring viable business cases to us.
“We are a bank not a crypto currency. We give real money, we do not speculate and when you leave money with us, you will definitely find it.
“Hence we need to lend money to those that really need it and have brought a viable business case considering that the money has to be refunded back to the depositors that have trusted us with their money,” he said.
He added that their role was that of trust and Standard Bank is associated with trust and integrity, which is an assurance to their customers that when they leave their money with them, they will definitely find it.
“Crypto currency is still an asset and one can speculate on it but the same value found in banks cannot be found in them. You can make super normal profits and you can also lose your money. We are not discouraging them but we advise that if one decides to invest in them, they should be aware of the risks associated with these investments,” he advised.
He also mentioned that they continue to service the communities that they serve and are happy to have partnered with RSTP and with all the innovators in the programme, further stating that the partnership was not just a once off event but want it to continue and grow.
“Every year when we have such sessions, we want to see the successful innovators whose businesses have moved beyond the land, because in the land one tries things out and sees if they work or not with intent to get their product in the market so that everyone can benefit from the innovations that are created in these startups,” he said.