Standard Bank has been recognised in the bba/ifs Financial Innovation Awards, for ‘Innovation in sustainability or social responsibility’.

The bank has been shortlisted in these highly competitive national awards for its work with the Mifumi project. To be in the finals, Standard Bank has had to demonstrate how it has balanced the accountability of the ‘triple bottom line’, financial return, impact on society and environmental responsibility; as well as the benefits for the bank, its stakeholders and society.

Standard Bank has been involved with Mifumi School in Uganda for over two years. The bank doesn’t just fundraise for the school, but actively works to increase understanding between the communities in which it operates and the remote area of Uganda. It’s a natural synergy between Standard Bank’s African heritage and its offshore offices. Links have been forged between local schools in Isle of Man and Jersey with a penpal scheme and regular Skype calls.

Staff from the bank have been out to the school to assess how they can best help, and this year a pupil and the Headmaster of Mifumi, were invited to Isle of Man and Jersey to meet staff and strengthen the bond between the communities.

Chief Executive Officer, Standard Bank Isle of Man, Chris Till said, “Our colleagues have not only got behind the Mifumi project by raising funds and donating items, but we’ve become involved with the charity committee, hosted the Mifumi School visitors when they came over, and provided professional advice and support to the charity. It really is a cause that has become close to all our hearts and fitted well into the fabric of our organisation.”

Mifumi School is in a remote area of Uganda. With support from Standard Bank it now has purpose built classrooms and teachers’ accommodation, along with fresh water and boarding for pupils who have to travel many miles to get to school.

The bba/ifs Financial Innovation Awards are in their 18th year and recognise projects and initiatives that demonstrate leadership, vision and innovation within the banking and financial services industry.

Winners will be announced in London on December 3rd.