LILONGWE-(MaraviPost)-The just launched Standard Bank’ Sustainability Report 2024 focuses on driving sustainable economic growth by creating value for the societies through building sustainable business developments.
Standard Bank Chief Executive Officer Philip Mandinga told stakeholders on that report Tuesday, September 26, 2025 in the capital Lilongwe during the launch of th report that the firm focuses on deepening financial inclusion and health, accelerating climate action and energy transition, invest in infrastructure for inclusive growth as well as promoting enterprise growth and job creation.
Kamandinga emphasized that 2024 Sustainability Report themed at “Driving Malawi’s Growth for a Sustainable Future.”
“What we have done is to drive the Malawi’s growth, but we want to do this in a sustainable manner, so that we have a sustainable future as a country, so if you look at initiatives that we will be supporting for example in mining, agriculture.
“We want to support in smart climate agriculture. The bank also want to make sure that investors that are coming into mining sector as they are compliant with issues of governance. Our laws as well as environment that’s what is part of sustainability agenda,” he said.
Head of Programmes Support at International Organizations for Migration (IOM) Malawi office Alina Zalewski said, “It’s crucial to leverage on sustainability growth especially this time as Malawi is struggling with issues of climate change leading to an increase in poverty levels.
“There is need for institutions to look out to everyone in making sure that no one is living behind in terms of economic growth”.
The report also captures stores from customers themselves, including testimonials from businesses that have benefited from the bank’s support.
As this the third edition, the 2024 Report highlights the Bank’s role in driving Malawi’s growth through measurable impact in enterprise, infrastructure, climate action, and financial inclusion, while contributing to national priorities and the United Nations Sustainable Development Goals (SDGs).
On the financial inclusion front, the Bank launched the BOL to Wallet solution in May 2024, a platform that allows customers to move money from their bank accounts directly into mobile wallets.
In just six months, the service recorded over 287,000 transactions valued at K14 billion, indicating strong adoption across previously underserved communities. Palladium, a development partner using the service to distribute payments to rural beneficiaries, reported that over 100,000 digital transactions were successfully completed through the platform, reducing inefficiencies and improving access to funds for thousands of Malawians.
Complementing this drive is the Financial Fitness Academy, a new platform designed to equip Malawians with the tools and knowledge to make informed financial decisions.
Through this initiative, Standard Bank is investing in customer education to build stronger, more resilient households and enterprises.
In the youth and arts space, the Bank’s Joy of the Arts platform supported initiatives designed to empower young creatives and expand Malawi’s cultural economy.
These included Art in the Park and the Lilongwe Book Festival, which together attracted thousands of visitors and created income opportunities for local artists.
The Bank also sponsored theatre through ATEM and the University of Malawi Festival, providing a platform for 32 theatre groups and 2,500 attendees.
Most recently, Standard Bank reaffirmed its commitment to culture by investing K40 million as the headline sponsor of the MUST Cultural and Innovation Research Festival, further strengthening opportunities for Malawians to embrace to traditions, heritage, and culture.
These investments reflect Standard Bank’s long-term belief in the power of arts and culture to inspire innovation and sustainability.
Infrastructure development remained another key focus, particularly the MK34.5 billion rehabilitation of Kenyatta Drive and Mzimba Street in Lilongwe.
Financed in collaboration with the Roads Fund Administration and local pension funds, the project was executed using local currency and was recognised with a Shared Value Award in the Partnership for Purpose category.
By improving connectivity in the capital, the Bank is contributing to growth in sectors such as agriculture, health and education, and reinforcing its position as a key development partner in national transformation.
The report also captures stories from customers themselves, including testimonials from businesses that have benefited from the Bank’s support.
Through these voices, the report demonstrates how Standard Bank’s products and partnerships are delivering tangible value on the ground.
The launch marks a new chapter in Standard Bank’s purpose-led journey.
By embedding sustainability into every area of its operations, the Bank is reaffirming its role as a trusted partner in Malawi’s growth story.
This comes barely days after Old Mutual Malawi also launched its Sustainability Report 2024.