Standard Bank Malawi is working closely with The Global Fund, an international organisation dedicated to eliminating the epidemics of AIDS, tuberculosis, and malaria across Africa.
The bank manages the accounts for Action Aid and World Vision International, the Fund’s two principal recipients and partners in the country.
As part of the collaboration, the bank recently funded a training programme in financial management for 31 participants from Action Aid. A similar training will be implemented for Malawi’s health ministry in December.
The training forms part of Malawi’s three-pronged partnership strategy with Global Fund, which includes strengthening business relationships with implementing partners; improving levels of operational risk management for donor recipients; and facilitating staff development.
The training programme includes modules such as the management of grant agreements; budgeting for Global Fund projects; cash transfer and risk; cash and bank management; and expenditure, taxation and taxation reporting. It assists the Fund’s recipient to better manage the grants they receive and access more funding, ultimately helping to save lives in a country devastated by the three deadliest diseases across the globe.
Said Priscilla Banyani, the Finance Manager of Project Hope, one of the partners of Action Aid: “The training gave me a real feel of the operations of Global Fund. The content was well packaged, and I have found it useful in my work as it has given me a perspective on what to expect with the project.”
The training aligns with Standard Bank Malawi’s broader Corporate Social Investment priorities - education, health, and youth and sustainable development - with the emphasis on encouraging staff to volunteer to get involved in assisting communities and building our brand.
Education in financial management builds capacity for Global Fund recipients by improving operational controls and procurement and reducing risk, ultimately having a positive impact on the health of the population. Staff involvement furthers personal development and improves engagement with Standard Bank’s purpose on the continent, as well as building the bank’s reputation as a socially responsible bank. It also encourages female empowerment as a percentage of the trainers are female staff members.
The work that is being done in Malawi forms part of Standard Bank Group’s overall partnership with the Global Fund, which spans the 20 countries in which we operate across the continent, and covers three broad areas:
We are committed to contributions totalling more than $4 million over the next three years in the form of direct contributions, in-kind contributions, and revenue sharing. This is all in a bid to make progress real for the communities we operate in.
As a bank committed to Africa’s emerging growth story, we share Global Fund’s core objectives: namely to drive economic growth by improving living standards.