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Stanbic Bank invests GH¢6.5 million in community projects across Ghana

SEE Results 1.png Social Economic and Environmental Results

Tue, 2 Apr 2024 Source: Stanbic Bank

Stanbic Bank Ghana has announced an investment of GH¢6.5 million 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 spending 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 the University of Ghana, a 5-day Bootcamp for SHS Girls, a 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 towards quality healthcare delivery by donating ventilator machines and supporting the child cancer units of Ridge and Korle Bu Teaching Hospital. The bank also paid for treatment costs for several patients, financed healthcare providers’ participation in international conferences and medical exchange programs, and supported the 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 organized four quarterly breakfast meetings to discuss socio-economic issues, reaching millions of Ghanaians through radio, tv, and social broadcasts.

In acknowledgment 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 organize the 5th Volta Fair, 1000s of female-led enterprises benefitted from training, 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 the 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 to mitigate the impacts of climate change and improve access to reliable and sustainable energy sources.

Aside from offering the youth learning experience, and 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 demonstrate their talents on a competitive level, 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 weaving itself into the very fabric of the country’s socio-economic development story.

Source: Stanbic Bank