• Introduction
    • OVERVIEW
    • INTRODUCTION TO THE STANDARD BANK GROUP
    • OUR REPORTING SUITE
    • A LETTER FROM OUR CEO
    • STAKEHOLDER ENGAGEMENT
    • ASSURANCE STATEMENT
     
     
     
     
     
     
  • SEE impact areas
    • OVERVIEW
    • IMPACT REPORTING
    • 1.
      FINANCIAL INCLUSION
    • 2.
      JOB CREATION AND ENTERPRISE DEVELOPMENT
    • 3.
      INFRASTRUCTURE
    • 4.
      AFRICA TRADE AND INVESTMENT
    • 5.
      EDUCATION AND SKILLS DEVELOPMENT
    • 6.
      EMPLOYEE DEVELOPMENT AND TRAINING
     
     
  • ESG
    • OVERVIEW
    • ABOUT THIS REPORT
    • MANAGING E&S RISKS AND OPPORTUNITIES
    • OUR DIRECT ENVIRONMENTAL PERFORMANCE
    • VALUING OUR PEOPLE
    • INVESTING IN COMMUNITIES
    • PROMOTING SOUND GOVERNANCE AND INTEGRITY
    • ESG METRICS AND POLICIES
     
     
  • Transformation
    • OVERVIEW
    • INTRODUCTION
    • A LETTER FROM SBSA CE: LUNGISA FUZILE
    • STANDARD BANK’S BEE SCORECARD
    • WHERE TO FIND MORE INFORMATION
     
     
     
     
     

Education and skills development

SEE iMPACT AREA FIVE
Education and skills development SEE IMPACT AREA FIVE
Summary

Africa’s growth depends on her people having access to quality education, and the promotion of skills training and lifelong learning opportunities in the context of the fourth industrial revolution.

Standard Bank supports this in various ways. We work with partners in the education and corporate sectors to address the challenge of accessing affordable and accessible student finance, including through innovative models such as the Feenix crowdfunding platform in South Africa. Since June 2017, Feenix has raised R22 million, covering the fees for 800 tertiary students.

Our corporate social investment programmes focus primarily, but not exclusively, on education, from early childhood development to tertiary education. In South Africa, Standard Bank’s Tutuwa Community Foundation, established following the conclusion of Standard Bank’s Tutuwa black economic empowerment deal, supports a range of child development, educational initiatives, and youth work-readiness schemes.

SDG 4

Inclusive and equitable quality education and the promotion of lifelong learning opportunities for all

MATERIAL ISSUE

Contribute to job creation and enterprise development in countries of operation

Funding higher education for Africa’s youth

Standard Bank funds higher education, developing the skills needed for the future world of work. This includes facilitating access to finance such as the crowdfunding Feenix platform, and more direct funding such as our Standard Bank bursaries and scholarships.

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THE
CHALLENGE

Student access to funding.

THE SOLUTION
THE SOLUTION

Feenix crowdfunding platform enables individuals and companies to donate money directly to universities on behalf of selected students.

Standard Bank covered set-up and operating cost shortfalls.

THE IMPACT
THE IMPACT
Raised R22 million
650 students funded in 2018
Helping young people to enter the workplace

Standard Bank invests in a variety of training programmes designed to help young people access the world of work.

To build a bridge for young people entering the world of work, address racial, gender and geographical challenges to educational advancement, and develop the kind of skills needed by Standard Bank, we introduced learnership programmes for unemployed young people in 2007.

Kavita Gosai
Kavita Gosai
“Fresh out of university with a BCom honours degree – little did I know the struggle that lay ahead in finding a job. After many applications and interviews, I secured a place in Standard Bank’s Credit management learnership. I learnt a vast amount, I had a supportive structure in my team that trained and guided me well. Frequent trips to Johannesburg for training allowed me to build my network. I’ve been with the bank for over six years now, and every day is something new. Standard Bank saw my potential and gave me the opportunity to constantly grow, personally and professionally. I am now a manager in business rescue and recovery.”
Supporting quality schooling
Supporting quality schooling

We support primary and secondary school interventions in several of our countries of operation. Our programmes include teacher support for crucial subjects, as well as learning materials for both teachers and pupils.

Supporting early childhood development
Supporting early childhood development

Extensive empirical research has demonstrated that developmental stimulation during the earliest years of childhood is critical to future intellectual, emotional and physical wellbeing. In South Africa, Standard Bank and the Tutuwa Community Foundation support early childhood development (ECD) through a number of targeted initiatives. We invested more than R11.6 million in 2018.