Standard Bank launches Sustainability Report

08 Jun 2016 11:20am
WINDHOEK, 08 JUN (NAMPA) – Standard Bank Namibia (SBN) on Monday launched its 2015 Sustainability Report to help the organisation measure, understand and communicate their economic environment and financial performance.
Speaking at the launch, Standard Bank Namibia Chief Executive Officer (CEO), Vetumbuavi Mungunda said the report presents the organisation’s values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy.
“A decision taken by the SBN Holdings Board of Directors to publish a sustainability report for stakeholders is based on the belief that our ongoing sustainability is directly linked to us being a valuable member of our communities and of broader society, now and in the future,” he said.
Mungunda emphasised that the report aims to create greater transparency and accountability, and to allow for better-informed and more robust decision-making in a context where financial and non-financial challenges are becoming more interdependent.
He said the report covers the sustainability performance of the bank’s operations, which is presented in relation to a material focus area strategically significant to SBN.
“We consider an issue to be material if it has the potential to impact on our commercial viability and our social relevance. These include issues which may impact on economic growth and the political and social stability of the Namibian market as well as factors which may impact on our stakeholders’ perceptions and decisions in relation to Standard Bank specifically.”
Meanwhile, SBN’s Head of Corporate and Social Investment and Board Company Secretary, Advocate Sigrid Tjijorokisa reaffirmed the company’s commitment to making a meaningful contribution to sustainable development in the country by upholding ethical and responsible financing and business practices.
“By doing so, we strive to unlock the value for all stakeholders, particularly our customers, employees and shareholders,” she said.
Tjijorokisa added that like other financial services, their sustainability depends on effectiveness in assisting individuals, businesses and institutions to fulfil their economic potential by facilitating payments, managing risk and creating and preserving wealth.
The sustainability report will be published on an annual basis.
Standard Bank Namibibia operates a distribution network of 53 branches and 220 automatic teller machines (ATMs) across the country, serviced by a workforce of over 1 500 employees.