Standard Bank Namibia in a collaborative effort with the Shack Dwellers Federation since 2016 has funded the construction of 733 houses through the Buy-A-Brick programme, totalling N$27.8 million in investment.
This comes as the bank has allocated over N$6.8 million for the current financial year towards its Corporate Social Responsibility (CSR).
For the current financial year, Standard Bank has allocated N$1.5 million for the construction of 60 houses under the Buy-A-Brick programme.
Deputy Minister of Urban and Rural Development Evelyn !Nawases-Taeyele lauded the public-private partnership for delivering numerous affordable houses.
She highlighted it as a model partnership with the potential to provide quality services to Namibians across all sectors, encouraging emulation in other areas.
“Conventional housing is very expensive today but with this type of support, including the new or alternative building methods that are being explored, I am hopeful that we will in future be able to take thousands more people out of shacks and put them into decent housing structures such as what we are seeing today, ” she said at the Bank’s corporate social investment (CSI) initiatives for 2024 announcement.
Meanwhile, the bank’s Chief Executive Erwin Tjipuka said 1% of the Bank’s net profit after tax is reserved for the CSI initiatives which is four times the requirement stipulated by the Namibian Financial Sector Charter.
He said projects are initiated upon approval and contracted with beneficiary organisations.
“Payments commence upon project implementation. Biannual beneficiary reports detail fund utilisation and impact. Annual reviews by the bank ensure project alignment with objectives. Project close-out involves evaluation,” he added.
Tjipuka highlighted that beneficiaries are selected from local and non-governmental organisations with well-defined programmes aimed at maximising community impact by a sub-committee.
Among these initiatives is the Blue Child Champion Programme, a collaboration with FAWENA (Forum for African Women Educationalist in Namibia) under the Ministry of Education, Arts and Culture, aimed at supporting high school learners from all 14 regions over a three-year period.
This programme was allocated N$1.5 million to provide essential support such as full school uniforms, monthly toiletries, stationery, books, and transport, while also offering education and psychosocial support, mentoring activities, and empowerment programmes.
Another notable initiative is the Circle of Hope, implemented in partnership with the Cancer Association of Namibia, which provides psychosocial support, family upliftment, community awareness, and cancer screening in informal communities across all 14 regions, with an allocation of N$700,000.
Additionally, the Nampharm Foundation, under the Ministry of Health, aims to provide free quality medical treatment and support to Namibian children, improving the quality of life and fostering healthy communities, with an investment of N$250,000.
In the realm of sports development, the SBN Hockey Development Program, with an annual budget of N$600,000 for three years, seeks to introduce hockey to 16 towns across all fourteen regions, run competitive leagues, host regional tournaments, introduce hockey to primary schools, involve children under 12, and certify coaches and umpires.
Furthermore, in support of small and medium-sized enterprises (SMEs), Standard Bank has partnered with the Financial Literacy Initiative (FLI), Women in Agri and NIPDB to provide growth masterclasses, mentorship, and training programmes, with an investment of N$1 million.
Hope Village, another initiative supported by Standard Bank, aims to provide loving and caring homes to children, offering spiritual, emotional, social, educational, and physical growth opportunities, with an annual budget of N$400,000.
Lastly, Standard Bank Community Day encourages all staff members to engage in community work for a minimum of three hours, with each employee allocated N$500, totalling N$700,000 for approximately 1,400 employees.
Tjipuka said these initiatives underscore Standard Bank’s commitment to making a positive impact in Namibian communities and aligning with the Bank’s CSR strategy.
