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StanChart injects P500 000 into YAB

SHARE   |   Tuesday, 03 September 2019   |   By Bakang Tiro
SHAKING HANDS: Standard Chartered Bank Botswana CEO, Mpho Masupe [R] with Tapiwa Chilume, Young Africa Botswana Chairperson (YAB) SHAKING HANDS: Standard Chartered Bank Botswana CEO, Mpho Masupe [R] with Tapiwa Chilume, Young Africa Botswana Chairperson (YAB)

Standard Chartered Bank of Botswana has sponsored Young Africa Botswana (YAB) with the tune of P 500 000 through its new Corporate Social Responsibility (CSR) initiative Futuremakers.

The Futuremakers is the bank’s global initiative designed to tackle inequality and promote greater economic inclusion for young people in the local communities.

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Standard Chartered Bank Botswana CEO, Mpho Masupe, said the launch of the project and donation to YAB was in line with the bank’s longevity, outstanding history and striking partnerships.

Masupe said his bank has been in Botswana for about 122 years that has been characterised by empowering local communities; hence the decision to launch Futuremakers.

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“The bank is proud of its longevity for bringing in sustainable development of the country. Our commitment is to forge partnerships that exist for a long period of time and most importantly promoting entrepreneurship. It also focuses on reaching tangible sustainable results, “he said.

He said the high unemployment level that mostly affects the youth cannot be overemphasized, adding that the programme is meant to help combat the rising scourge.

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Masupe said the bank has chosen YAB as the first beneficiary, saying they are committed to citizen entrepreneurship development with YAB being a good epitome of the plan.

 He indicated that Young Africa Botswana is one of the most promising enterprises seeking to turn business ideas of young people into a reality, thus pledging more support for the centre.

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 “We will support YAB to grow more to produce more Futuremakers. It is also exciting to have them as the first beneficiaries of the Futuremakers. Botswana is one of the first markets to launch the initiative in Africa,” said the delighted Masupe.

 Tapiwa Chilume, Young Africa Botswana Chairperson (YAB), showered the bank with praises for noticing the organisation’s potential and efforts of empowering young talented entrepreneurs.

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He said YAB is keen on training youth on ICT, agriculture, tourism and hospitality sectors; welcoming

Standard Chartered Bank’s financial assistance as it will help YAB to scale up facilitation of projects as well as expanding footprint.

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“We have entered into another partnership with Ministry of Youth and we are so grateful for Standard Chartered to also come on board in a crucial time whereby we need more support,” said Chilume.

Futuremakers supports underprivileged young people from low-income households, particularly girls and people with visual impairment by fully partaking in programmes focused on education, employability and entrepreneurship.

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 The initiative’s goal is to raise USD 50 million (through fundraising and Bank-matching) between years 2019 and 2023 to empower the next generation to learn, earn and grow.



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