Stanbic Bank South Sudan And UNDP Enter Long Term Strategic Partnership

Stanbic Bank South Sudan, through the Stanbic Bank Foundation in partnership with the United Nations Development Programme (UNDP), have today forged a new long-term partnership in the form of a Memorandum of Understanding (MoU) that will see the two organizations collaborate to drive socio-economic development, livelihood transformation and private sector development in South Sudan.

The partnership seeks to leverage and enhance multi-stakeholder partnerships that mobilize and share knowledge, expertise, technology, and resources, to support the achievement of sustainable peace and development in South Sudan.

Ensuring access to essential aspects of socio-economic development, personal wealth creation, and financial protection for the most vulnerable reduces inequalities and transforms lives. Specifically, the partnership will promote financial literacy and capacity-building support for various stakeholders, youth, and women entrepreneurs in various sectors, including agriculture.

The collaboration will also support Micro, Small, and Medium-sized Enterprises (SMEs) through upskilling to ensure that locally owned businesses can participate competitively in both domestic and regional trade.

Commenting on the partnership, Mr. Andrew Murugu, Country Head, Stanbic Bank South Sudan noted, “This is an important step not just for Stanbic Bank but for the rest of South Sudan’s private sector. We believe that South Sudan’s socio-economic transformation will be accelerated by partnerships between government, development partners, and the private sector.”

He added that “There is strength when the partners, with mutual interests, come together and I believe with our respective strengths, this partnership make meaningful contributions to South Sudan and our people.”

The partnership comes just a few weeks after UNDP and Stanbic Bank partnered to donate desktop computers to the South Sudan National Prisons Service in an effort to promote digital skills and institution development in the Juba, Malakal, and Wau central prisons.

UNDP South Sudan Resident Representative Dr. Samuel Gbaydee Doe said, “We have learned over the years that our work is more impactful when we involve partners from all sectors. Our collaboration with Stanbic will therefore provide an opportunity to advance the commitment and involvement of the private sector in sustainable development opportunities as envisioned in our framework.”

The event was graced by Stanbic Bank Kenya and South Sudan Chief Executive Mr. Charles Mudiwa who said, “Stanbic Bank believes in leveraging partnerships with shared goals and values to foster growth and development. The bank has entered a number of partnerships with governments, non- profit organizations, and the private sector in a bid to drive the maximum impact of targeted initiatives”.

Stanbic Bank through the Stanbic Foundation seeks to catalyze inclusive socio-economic growth and promote climate-smart development projects to create sustainable businesses in Kenya and South Sudan in line with the UN Sustainable Development Goals (SDGs).

Mr. Mudiwa added that “Stanbic Bank is committed to driving sustainable growth and value in South Sudan, driven our purpose; South Sudan is our home, we drive her growth. This partnership with UNDP expands our universe and widens our scope on how to continue to contribute positively to society.”

According to Stanbic Bank, the partnership is a key pillar of its social, economic, and environmental (SEE) programs. They also create a framework to expand technical expertise to provide access to inclusive growth and the promotion of opportunities and socio-economic transformation.