CDH Investment Bank supports LUANAR Vice Chancellor’s Excellence Awards with K10m

* We are committed to supporting innovation which is instrumental to adapting and thriving in all aspects of business or life

* An investment in innovation will develop the nation as the initiatives contribute positively to the overall growth

By Fazilla Tembo

CDH Investment Bank (CDHIB) has contributed K10 millon towards the 2023 Vice Chancellor’s Excellence Awards run by Lilongwe University of Agriculture and Natural Resources (LUANAR).

The support is part of the K28.9 million package that is earmarked for the agri-innovation challenge awards in the next three years.

At the Vice Chancellor’s Awards ceremony at Bunda campus in Lilongwe, CDHIB Accounts Relationship Manager responsible for corporate and public sector, Jennie Madinga said they were proud to be part of writing history at the institution by hosting the first-ever innovation challenge scholarships that will create a value in the nation.

“We are committed to supporting innovation which is instrumental to adapting and thriving in all aspects of business or life,” she said, adding that an investment in innovation will develop the nation as the initiatives contribute positively to the overall growth.

“These innovations will assist to address societal agriculture related challenges identified so that solutions are made to scaling up and investment. This will support exceptional innovations that will help the nation to grow.

LUANAR Vice Chancellor, Professor Emmanuel Kaunda applauded CDHIB for the support, saying it will go a long way to create value in the development of the nation,

“In any culture or an organization, one of the tenets that help it to grow is when you start recognizing individuals that are outstandingly doing well,” he said. “Once they are recognized, the students get motivated as well as the institution to be able to do better.

He said the idea of the awards is to recognize different people who have done well in different categories of innovations published international recognized journals. Others are students who have done excellent essays, research, and individuals who have done well in their departments among others.

One of the awardees, Annita Manani said they are motivated by the institutions as they have considered their achievements to be celebrated.

“We will continue doing better since the institutions have started recognizing our works, they have challenged us to do more,” she said.

The best winner in the categories received K200,000 with K150,000 for runner-up and third place getting K100,000.

CDHIB partnered with LUANAR in January through a memorandum of understanding (MoU) of an investment worth K60 million towards three strategic initiatives for the period of three years from 2023 to 2025.

The Bank is providing K20 million for the university to execute tree-planting initiatives, agri-innovation challenge and provide scholarships to at least 5 innovative, talented and unique students per year that join it from secondary schools under the LUANAR innovation scholarship program.

The first activity under the MoU was rolled out in February through tree planting exercise in which CDHIB provided K3.5 million which the university channelled to the Forestry Department aimed at fighting climate change.

This was CDHIB’s cognizance of how the country has been adversely affected by floods and cyclones that negatively impacted the economy through loss of energy, damage to properties and many others.

These initiatives were taking into consideration as the bank was celebrating its 10th anniversary last year of doing business in the country, which opened its doors on April 2, 2012.

It has made several corporate social responsibility (CSR) initiatives that include donating K16.9 million to Mary’s Meals towards construction of a kitchen and learners feeding block at Mbinda Primary School in Blantyre and also invested K15 million for the construction of a school block at Dzama in Lilongwe — a project that was undertaken by University of Caroline.

CDHIB has before contributed a lot to support the country’s education development efforts in a variety of ways over the past 10 years — ranging from provision of learning materials, infrastructure, financial support to less privileged students through their institutions of learning.

The Bank first rolled out as Continental Discount House Limited in August 1998 operating in the financial sector for 14 years before converting to CDH Investment Bank.