Stanbic Bank Donates K1 Million to Support Zambia’s Drought Relief Efforts
Stanbic Bank Zambia has pledged K1 million towards disaster management and mitigation to aid the Zambian Government in addressing the impacts of the ongoing drought crisis.
The donation was formally received by Republican Vice-President W.K. Mutale Nalumango, who expressed gratitude to Stanbic Bank for their contribution to supplement the government’s efforts in combating the effects of the drought.
Highlighting the severity of the situation, Vice President Nalumango emphasized that an estimated K23.5 billion is required to effectively tackle the challenges posed by the drought.
Acknowledging the importance of collective action, the Vice-President called upon the private sector to follow Stanbic Bank’s example and join hands with the government in alleviating the drought’s repercussions.
She underscored that while the economic challenges faced by Zambia are not solely man-made, the drought exacerbates existing difficulties.
In light of the crisis, Vice-President Nalumango encouraged the adoption of alternative energy sources such as solar and gas, emphasizing the need for long-term strategies to address the prolonged effects of the drought.
Additionally, she urged farmers to prioritize irrigation and water harvesting practices to safeguard agricultural productivity.
Stanbic Bank’s Chief Executive Officer, Mwindwa Siakalima, expressed gratitude to President Hakainde Hichilema for promptly declaring the drought and reiterated the bank’s commitment to supporting affected sectors.
Siakalima highlighted the bank’s ongoing initiatives, including the planting of over 20,000 trees along the Zambezi riverbanks as part of its social corporate responsibility efforts.
Furthermore, Stanbic Bank has forged partnerships with organizations such as GIZ, WWF, and the Ministry of Water Development and Sanitation to enhance the capacity of communities residing along the Zambezi riverbanks, recognizing the critical importance of sustainable water management practices in mitigating the drought’s impacts.
