Standard Bank clocks 55 years; To continue driving Malawi’s vision for inclusive wealth

* As we continue to steer Malawi towards achieving the status of an inclusively wealthy and self-dependent nation, we pledge to do so in a manner that is responsible and sustainable

* The commemoration of our foundations is a platform to reaffirm commitment and responsibility towards growing together with Malawi

By Duncan Mlanjira

Standard Bank Plc, which opened its first branch in Limbe on 11th April 1970 then trading as Commercial Bank of Malawi, is today commemorating 55 years of its operations in Malawi pledging to continue driving the country’s vision of achieving inclusive wealth and self-dependence by 2063.

In a statement on its 55th anniversary, Standard Bank says it takes pride in its legacy of leading to shape Malawi’s future as envisioned in the #MW2063 blueprint.

“As we continue to steer Malawi towards achieving the status of an inclusively wealthy and self-dependent nation, we pledge to do so in a manner that is responsible and sustainable,” reads the statement.

“The commemoration of our foundations is a platform to reaffirm commitment and responsibility towards growing together with Malawi.

“During this anniversary, we will demonstrate our tangible contributions towards socio-economic development of the nation.”

The bank further says to provide solutions to the country’s emerging problems, it is strengthening partnerships with key stakeholders by engaging them to generate consensus for collective action on national development.

The bank says it has created the Standard Bank’s Leadership Round Table series as a platform for engagement with key stakeholders.

“The Standard Bank Leadership Round-Table discusses policy reforms specifically designed to trigger economic recovery, growth, and sustainable development of the country,” reads the statement.

Some of the recent reforms successfully facilitated by the Standard Bank Leadership Round-Table include the waiver by government of Visa restrictions, which aims to boost tourism revenue, the fast-tracking of Mining Development Agreements (MDAs) and mining policy reforms, and boosting local capacities for exports.

Standard Bank says it has repositioned itself to provide financing solutions tailored to respond to the needs of national growth in the key sectors of agriculture, trade, tourism, infrastructure and the financial sectors.

The bank also cites its role as the joint lead financier of the spatial Mzimba/Kenyatta road in Lilongwe which promises to transform the city’s transport corridors and commerce.

“This is one of the many long-term infrastructure projects undertaken by Standard Bank that demonstrates our capacity to take on large projects of national public interest,” reads the statement.

It adds that the bank’s corporate social investment (CSI) agenda is designed in line with the Bank’s Social Impact initiatives to improve the general population’s welfare through interventions in health, education, financial & gender inclusion, youth and sustainable development.