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| The Chief Executive Officer of Standard Chartered Bank, Herman Kasekende (centre), speaks at a meeting to present the environmental management report held by the bank in Dar es Salaam. On the right is the Managing Director of Serengeti Breweries, Mark Ocitti and on the left is the Director General of Tanzania Railways Corporation (TRC), Masanja Kadogosa. |
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| Deputy Secretary General Office of the Vice President (Environment), Dr. Switbert Zacharia Mkama with the CEO of Stanchart Tanzania, Mr. Herman Kasekende during the unveiling of the SCB Impact report. |
Speaking during the launch event, Standard Chartered Chief Executive Officer, Herman Kasekende said, “This report demonstrates ways in which sustainability practices can drive economic growth, improve the well-being of communities, and protect the environment for future generations. As a bank, we believe we have a unique role to play in shaping the future of our country.”
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| Chief executive officer, Herman Kasekende, speaks to invited guests and journalists at the launch event of the 2022 Standard Chartered Bank Tanzania Impact report "Here for Good". |
The Deputy Permanent Secretary in the Vice-President's Office (Environment) Dr Switbert Mkama who graced the event, said, “the report being launched today showcases what the bank is doing to champion and lead change across the country and businesses. This is an extremely outstanding effort, and it is incredible to see how the bank has connected its business model to the Sustainable Development Goals (SDGs). I am particularly impressed by the progress that has been made in Sustainable Finance and how the Bank leverages on its partnerships in assisting the government of Tanzania to transition to a low carbon economy.”
The report highlights the bank's contribution to driving the country's economic growth through a wide range of topics, including impact financing, efforts to reduce greenhouse gas emissions, investing in communities, digital innovation, and initiatives to promote financial inclusion and literacy. The report also demonstrates the bank’s objective of creating shared value by supporting the core pillars of society while also realising targeted financial returns.
A deep dive into the report highlights case studies and data to illustrate the tangible impact of the bank’s efforts. For example, in promoting sustainable finance, the bank coordinated TZS 3.7 quadrillion financing for the Tanzania Standard Gauge Railway (SGR) project, which aims to construct a railway from Dar es Salaam to Dodoma (Makutupora). Once completed, the new SGR railway is expected to reduce cargo transportation costs between Dar es Salaam and DRC from a minimum of USD 6,000 per ton to about USD 4,000. The bank has also provided TZS 45.3 billion in financing to Car & General to support their working capital funding, which has enabled the client to maintain an all-women run assembly plant and warehouse.
The report further showcases the bank's efforts to promote inclusive economic growth and create job opportunities for Tanzanians. Through Micro Finance Institutions (MFI), the bank was able to reach and lend to a mass market of women and SME businesses. In 2021, the bank provided TZS 24.7 billion provided to Micro Finance Institutions (MFI) for lending to SMEs, reaching 454,000 customers.
Looking towards the future, the bank plans to build on the momentum achieved and ensure that its sustainability approach is effective in supporting the well-being of clients, colleagues, and communities. The bank believes that embedding sustainability as it implements its strategy will not only improve its client value proposition and the morale of its employees, but also positively impact conditions in the communities where it operates.
“We have the power to influence the actions of the individuals and businesses we serve. Our commitment to sustainability is not only the right thing to do, but it also makes good business sense. By optimising our resources and minimising our impact on the planet, we can reduce costs, increase efficiency, and drive long-term value for our shareholders.” Kasekende added.
The report highlights the bank's contribution to driving the country's economic growth through a wide range of topics, including impact financing, efforts to reduce greenhouse gas emissions, investing in communities, digital innovation, and initiatives to promote financial inclusion and literacy. The report also demonstrates the bank’s objective of creating shared value by supporting the core pillars of society while also realising targeted financial returns.
A deep dive into the report highlights case studies and data to illustrate the tangible impact of the bank’s efforts. For example, in promoting sustainable finance, the bank coordinated TZS 3.7 quadrillion financing for the Tanzania Standard Gauge Railway (SGR) project, which aims to construct a railway from Dar es Salaam to Dodoma (Makutupora). Once completed, the new SGR railway is expected to reduce cargo transportation costs between Dar es Salaam and DRC from a minimum of USD 6,000 per ton to about USD 4,000. The bank has also provided TZS 45.3 billion in financing to Car & General to support their working capital funding, which has enabled the client to maintain an all-women run assembly plant and warehouse.
The report further showcases the bank's efforts to promote inclusive economic growth and create job opportunities for Tanzanians. Through Micro Finance Institutions (MFI), the bank was able to reach and lend to a mass market of women and SME businesses. In 2021, the bank provided TZS 24.7 billion provided to Micro Finance Institutions (MFI) for lending to SMEs, reaching 454,000 customers.
Looking towards the future, the bank plans to build on the momentum achieved and ensure that its sustainability approach is effective in supporting the well-being of clients, colleagues, and communities. The bank believes that embedding sustainability as it implements its strategy will not only improve its client value proposition and the morale of its employees, but also positively impact conditions in the communities where it operates.
“We have the power to influence the actions of the individuals and businesses we serve. Our commitment to sustainability is not only the right thing to do, but it also makes good business sense. By optimising our resources and minimising our impact on the planet, we can reduce costs, increase efficiency, and drive long-term value for our shareholders.” Kasekende added.
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