Standard Bank has donated K8 million to Nkhoma University, one of the country’s newest institutions of higher learning.
Speaking during the cheque presentation ceremony at Standard Bank head office in Lilongwe, the visiting Personal and Business Bank Chief Executive Officer for Africa Zweli Manyathi described education as backbone for socio-economic development.
“Education is a form of social capital which developing countries in Africa must consider seriously if they hope to move their people from poverty to prosperity. For our part as Standard Bank, we are committed to playing our part to help improve the education systems of the countries we operate in. Malawi is a priority on that list,” Manyathi said.
Manyathi said the education sector remains one of focus area in Standard Bank’s Corporate Social Responsibility (CSR) support.
He said the bank will continue working with government and other stakeholders in uplifting the quality of tertiary education in Malawi.
“Standard Bank would like to re-affirm our commitment to assist in uplifting Malawi’s education standards,” he said.
Nkhoma University opened its doors in the year and currently is offering among which
This year the bank also donated K5 million to DAPP Teachers College towards scholarship for needy girls at the institution.
In his remarks Nkhoma University Chancellor Professor Kanyama Phiri hailed Standard Bank for the donation describing it as timely.
“On behalf of Nkhoma University I would like to express my gratitude to Standard bank for this huge donation,” said Kanyama.
Kanyama said the money will assist the University among others constructing of administration.
“The university is lacking a number of infrastructure items such as administration blocks and this donation will go a long way in addressing some of these challenges as we working towards government accreditation process of the university,” he said.
Nkhoma University opened its doors in September 2013 and currently it has a total of 180 students.
The University is offering education, theological and commerce studies. The college is also expected to introduce nursing studies in January 2015.