In January 2018, FDH Bank entered into a Memorandum of Understanding with the University of Malawi (UNIMA), pledging MK72 million in investment to fund scholarships at the university’s Chancellor and Polytechnic constituent colleges.
Speaking at the signing ceremony, FDH Bank’s Deputy Managing Director, William Mpinganjira, explained that the funding will provide sponsorship for 16 talented young students. Originally intended to cover four-year courses, the sponsorship scheme has now been extended to include five-year courses too.
William Mpinganjira said that the scheme was not only a way for FDH Bank to give back to society but would connect the leading Malawian financial institution with students, enabling the bank to recruit Malawi’s brightest young minds.
Mr Mpinganjira outlined the bank’s commitment to promoting education as part of its corporate social responsibility strategies. He said that in providing the funding, FDH Bank hoped to reduce dropout rates incurred through a lack of funding for tuition fees and other basic needs. He suggested that, depending on the University Council’s upcoming fee adjustments, FDH Bank may be prepared to renew the scheme, supporting more students in years to come.
UNIMA Vice Chancellor, Professor John Saka, explained that the investment would enable students to peacefully pursue their studies. He said UNIMA was pleased to partner with FDH Bank, since the scheme provided vital funding to support student studies and help young people to realise their goals.
Professor Saka said it was interesting to see a private sector organisation supporting public services in this way. He explained that while the government loans board provided vital support, it was not always sufficient to cater for every student.
Clemencia Likambale, an Education Science student studying at Chancellor College, joined Professor Saka in praising FDH Bank for its generous gift, explaining that the scholarship will go a long way towards easing concerns over how she would pay for her tuition fees and meet other basic needs.
Corporate Social Responsibility
The world is becoming more socially conscious. Customers and employees place a premium on companies that make corporate social responsibility a priority.
Corporate social responsibility, or CSR, is an evolving business practice which incorporates sustainable development in business models. The aim is to achieve a positive impact: improving society, the environment, and the economy.
CSR positively impacts companies, helping them build theirbrand and improve the company image, while motiving business owners and employees. By becoming socially conscious organisations improve their public image, creating a brand which customers and employees alike are proud to be affiliated with.
FDH Bank has developed a robust CSR portfolio over the years, supporting socio-economic growth throughout Malawi, focussing on education and health in particular. The organisation has supported a variety of community projects throughout the country, including:• Funding refurbishment and re-equipment of the MakwasaPaediatric High Dependency Unit• Supporting Malawian flood relief efforts• Financing refurbishment and providing ongoing support to the Queen Elizabeth Hospital Cancer High Dependency Unit• Sponsoring Mayor’s Trophy competitions in major cities throughout Malawi• Funding construction of a house for Marietta Samuel, a Dowa domestic abuse victim• Sponsoring the Queens netball team and the Netball Association of Malawi• Sponsoring the Flames football team and the Football Association of Malawi
As the founder of FDH Bank, Dr Thomson Mpinganjirarecognises all too well the importance of corporate social responsibility. A keen philanthropist, Thomson Mpinganjira sits on the board of Makwasa Hospital in southern Malawi.
