Graham Chipande (left) hands over the cheque to NCIC’s Engineer Gerald Khonje
* At Standard Bank, we believe in investing in the growth and development of our nation
* This support demonstrates our commitment to supporting initiatives that promote excellence and innovation in the construction industry
By Duncan Mlanjira
In recognition that the construction industry is a critical sector that drives economic progress and improves the lives of Malawians. Standard Bank has invested K15 million to the three-day 2024 International Construction Conference, cheduled to take place in Mangochi from tomorrow up to Thursday, August 7-9.
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At the cheque presentation to National Construction Industry Council (NCIC), Standard Bank’s Head of Business & Commercial Banking, Graham Chipande, said the bank is aware of the significance of construction works in the country’s economic growth.
He added that the contribution is in line with the bank’s driving growth agenda, which aims at transforming Malawi’s economic landscape.
“We have made this contribution to reaffirm our commitment to supporting the NCIC and all construction industry stakeholders in their efforts to build a better and prosperous Malawi,” he said.
“At Standard Bank, we believe in investing in the growth and development of our nation. The construction industry is a critical sector that drives economic progress and improves the lives of Malawians.
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“This support demonstrates our commitment to supporting initiatives that promote excellence and innovation in the construction industry. We are proud to partner with the National Construction Industry Council in their efforts to bring together industry experts, share knowledge, and address key challenges facing the sector.”
He further said in supporting NCIC’s initiatives, it aligns with the bank’s broader commitment to Malawi’s infrastructure development — taking cognizance that Standard Bank has been involved in several key projects, that include the upgrade of the Kenyatta-Mzimba road in Lilongwe through the Roads Fund Administration.
The bank also supported the Nacala railway corridor project, which aims to enhance regional trade and economic growth: “In addition, we have also played a crucial role in supporting the energy sector by restructuring ESCOM’s debts, enabling the parastatal to free up cash flows for critical repairs to the national grid.
“This restructuring has improved ESCOM’s ability to meet electricity demand, reduce power outages, and invest in renewable energy sources.”
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On his part, NCIC Chief Executive Officer, Engineer Gerald Khonje, applauded Standard Bank for the gesture, describing it as timely boost towards realisation of the country’s infrastructure development.
Khonje said they are making headway to reach the K100 million target for the conference as other partners continue to show commitment: “The support we have received from Standard Bank is crucial for our conference.
“We believe that Standard Bank has already started initiating the important dialogue which our conference is focusing on through its growth conversations launched a few weeks ago.
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“We believe it is through these discussions that we can promote together which our country needs for development. Already we have seen Standard Bank supporting the construction industry through various infrastructure projects.”
He thus applauded the bank “for taking this board step in financing some of these major projects — this a partner the country needs”.
The 2024 International Construction Conference will be held under the theme; ‘Innovate, Adapt and Excel quality driven construction Industry’.
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