Who We Are
Our CSI initiatives are aimed at achieving and sustaining positive social development of the communities we operate in. Through various community interventions, our effective community re-investment further reinforces our values and help us achieve our business objectives.
In South Africa, to ensure meaningful delivery against the social requirements of the dti codes we focus our CSI spending on three areas; education, enterprise development and health and wellness. As education plays a critical role in the future sustainability and economic upliftment of South Africa, a large portion of our spend is focused in this area.
Standard Bank Group (SBG) recognises that the private sector must develop innovative solutions to meet development challenges particularly in emerging markets. We partner with organisations that lead global efforts to fight poverty, HIV/Aids, TB and malaria and provide solutions to support agriculture and infrastructure development.
We are working to make financing available to smallholder farmers, investing in infrastructure across Africa and other emerging markets and support healthcare development through capacity building initiatives.
In addition, financial institutions play a central role in socioeconomic development by providing finance to customers through lending which enhances individual welfare and drives growth in the broader economy. Other activities impacting social development include
an emphasis on small and medium enterprises (SME's), as well as special procurement policies.
Increasingly, African countries are undertaking economic transformation processes including indigenisation, to improve the benefits to local people of their national economies. Standard Bank monitors these initiatives for any material risks which they may present. In South Africa this is articulated through the Broad-based Black Economic Empowerment Act.
The most fundamental contribution Standard Bank Group (SBG) makes to the economies in which we operate is through delivering a robust business supported by sustainable revenues. This allows us to pay dividends to our shareholders, salaries to our employees and tax to governments, as well as create value through the supply chain and investments in community projects. The total wealth created by the group in 2010 was R44,4 billion, an increase of 8,8% from 2009.
Standard Bank has been ranked as the top empowerment company in South Africa by Empowerdex, one of the country's leading empowerment verification agencies. We achieved an overall BEE rating of 92.83 per cent.
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