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Monday, 13 January 2020

Stanbic IBTC: Making Meaningful Impact Through CSI

It is common practice for organizations to use money, gifts, employee manhours or resources for projects that improve the lives of people in the host communities where they operate in exchange for benefits of all sorts. The Corporate Social Investment (CSI) initiatives of Stanbic IBTC Holdings PLC, a member of Standard Bank Group, however stands out in this regard.

The year 2019 marked the fifth edition of Stanbic IBTC’s flagship CSI activity, Together4ALimb. The number of beneficiaries for 2019 alone was increased to 10, which is the highest number since the programme kicked off in 2015. Dr. Demola Sogunle, Stanbic IBTC Bank’s Chief Executive explained that the number was increased in commemoration of the Stanbic IBTC Group’s 30th anniversary. Together4ALimb Walk is an initiative through which the company provides prosthetic limbs to children from underserved communities suffering from limb loss. In 2019, each beneficiary was also awarded an Educational Trust worth N1.5 million to enable them further their education with ease.

The employees of Stanbic IBTC also take the lead in terms of implementing CSI projects. The staff of the various business units/ departments, commit their personal funds towards executing these projects. The Stanbic IBTC Holdings Group then matches the funds provided by the staff, in line with its commitment towards ensuring that it gives back to the societies it operates in. Stanbic IBTC’s CSI is hinged on three key pillars – Health, Education and Economic Empowerment.

In its usual practice, the leading Nigerian end-to-end financial service provider invested in several CSI projects across the country. It renovated schools and health centres/hospitals and donated items such as computers, sewing machines, wheelchairs, crutches, clippers, toiletries, food items and medical equipment, among others. Some communities also got fully functional borehole projects with overhead tanks and some teachers got paid their salary for one year.

With Stanbic IBTC Holdings PLC, corporate social investment is not-a-nice-to-have, it is a core of its commitment towards contributing to Nigeria’s socio-economic development and to help the nation to continue moving forward.  The firm seeks to establish community-based partnerships, while encouraging its employees to participate voluntarily in life-changing initiatives.

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