MALAWI – FDH Bank Limited, a commercial bank, has signed an agreement with Press Trust, a local charitable institution, under the strategic partnership for impactful social investment initiative, reports The Times Group Malawi.
Being one of the country’s high street banks, it will commit K5 billion (US$6.84m) towards the Trust’s social initiatives in the next five years.
During the signing ceremony, it was highlighted that the partnership will ensure joint identification and financing of projects that will improve the socioeconomic status of Malawians.
Acting Managing Director of the Bank, William Mpinganjira, said the partnership will complement efforts that the bank has been putting to support socio-economic growth of Malawians under its corporate social responsibility programme dubbed FDH Cares.
“The partnership will achieve greater collaboration and coordination in the delivery of meaningful and impactful social investments that directly contribute to the national development agenda for the next five years.
“This will mean that the bank and the Trust will sustainably reach more people and more communities through the joint facility of growth and contribute towards the social economic development of the country,” Mpinganjira said.
Press Trust Chairperson, Wilson Chirwa, concurred with Mpinganjira that the partnership will go a long way in enhancing the two parties’ individual capacity in providing social services.
“We will continue with the activities we have been doing such as in health and education it is just that now with the combined effort with FDH Bank we will be able to have a greater footprint,” Chirwa said.
Since 1997, the Trust has supported various socio-economic developments worth over US$25 million across the country.
Press Trust is Malawi’s foremost local charitable institution. It is wholly independent of any political influence and exists solely to further Malawi’s social and economic development through community-based projects.
Donor capabilities are derived from a nearly fifty per cent interest in Press Corporation Limited and professionally managed investments in other blue chip companies listed on the Malawi Stock Exchange.
In order to pursue its laid down development aims, the Press Trust constantly seeks strategic partnerships with credible local and international partners.