Standard Chartered Bank awarded 18 million Ugandan Shillings as part of the ‘Innovation Challenge’.
Embracing Corporate social responsibility (CSR) to generate entrepreneurial solutions that solve community needs.
Corporate social responsibility (CSR) is being embraced by businesses in new, creative and innovative ways.
Corporate social responsibility as we know it is taking many creative shapes and forms. Standard Chartered Bank Uganda Limited while announcing its financial results for the year 2021 shed a spotlight on their sustainability agenda. Margaret Kigozi Namulindwa, the Head Corporate Affairs, Brand & Marketing highlighted the employee volunteering program as one of the ways the bank had given back to community in 2021. Corporate Social Responsibility in this form has been said to foster a more positive and productive workspace for employees while at the same time contributing to society’s long-term needs and well-being.
In the past year, 44% of Standard Chartered employees volunteered their time and skills through skills-based activities. One of the activities in which they have given their time and skills has been Standard Chartered Bank’s Financial Education Programme.
The employees provided basic financial knowledge to youth and entrepreneurs in order to empower them to make wise financial decisions in their future. This program was undertaken in partnership with Kampala City Council Authority given their database of youth and entrepreneurs in need.
The bank also held a financial masterclass for 40 small and medium sized enterprises on the topic of accounting, filing returns and tax compliance training. More 30 small and medium sized enterprises received audit readiness sessions to enable them attract investors.
To help young people with disabilities develop entrepreneurial solutions to community needs, Standard Chartered Bank the bank awarded 18 million Ugandan Shillings (U.S. dollars) as part of the ‘Innovation Challenge’. This was launched last year as a way to empower disabled youth as job creators through self-motivated innovations.
“We enjoyed a decade of Standard Chartered’s Seeing is Believing initiative where we collaborated helping many Ugandans to have their sight restored. We are now glad to once again collaborate with the bank in the ‘innovation challenge’ which builds onto the legacy of Seeing is Believing. I believe this initiative will go a long way in improving the welfare of persons with disabilities as well as the realization of their human rights when they are economically empowered.” The Sightsavers Uganda Country Director, Dr. Johnson Ngorok.
Standard Chartered Bank's corporate social responsibility (CSR) has allowed it to reach out to those in need in the community.