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Lungisa Fuzile (full image set)
Leadership 14 October 2022

Standard Bank encourages us to share reasons to believe in Africa – and pledges to donate R160 for every reason shared

Standard Bank turns 160 tomorrow, and to commemorate this achievement, the bank is calling on everyone to share their reasons to believe in Africa. For each reason to believe that is shared on social media using #160Reasons, Standard Bank will donate R160 to build early childhood development (ECD) centres.

The call to action seeks to spread the love and include more people in the bank’s 160th anniversary celebrations. It plans to leverage these celebrations to benefit children in underprivileged communities where classrooms or ECD centres are limited or may not exist.

“We are excited about our 160th milestone. What an impactful way to pay tribute to it: by leaning on our history and the passion that people have for this continent to benefit its children,” said Standard Bank SA Chief Executive, Lungisa Fuzile.

Today, the bank announced that, for every reason to believe in Africa that people share on their various social media channels using #160Reasons, Standard Bank will contribute R160 to the Bright Kid Foundation (www.brightkidfoundation.co.za). The foundation supplies and installs complete ECD centres, which include “Edutainers” – fully equipped instant classrooms built from repurposed 12-metre containers that can accommodate 25 children. This initiative is an extension of Standard Bank’s corporate social investment focus on education. A cause in which the bank invested R72.4 million during 2021.

Standard Bank Group Chief Executive, Sim Tshabalala, said that throughout its long history, Standard Bank has existed to help people and businesses achieve their goals – and, in so doing, to promote economic and human development in Africa.

“We’re proud, for example, that very soon after our founding we banked both the pioneering international wool traders of Port Elizabeth – and the pioneering African academics and journalists of Lovedale College. We’re proud that we supported the diamond miners and dealers of Kimberley – and banked one of Kimberley’s greatest sons, Sol Plaatje,” said Tshabalala.

Standard Bank was founded in Gqeberha (formerly Port Elizabeth) in the Eastern Cape on 15 October 1862. Its first branch was opened in Gqeberha three months later. By the end of 1863, Standard Bank served clients in all South Africa’s largest towns – Cape Town, Durban, Bloemfontein, and its home city, Gqeberha.

“Why not Johannesburg? Simply because it wouldn’t be founded for another 23 years. But we would be the first bank to get to Joburg as it sprang into existence,” added Tshabalala.