Namibia, on the west coast of Africa and with South Africa on its southern border, is a sparsely populated country of barely more than two million inhabitants but roughly the combined size of France and Germany (joint population: 143 million). So growing a customer base outside of the few large metropolitan areas is tough going. Standard Bank Namibia is a pin-prick on the $116bn balance sheet of its South African parent but the judges were impressed with its determination to push products and services into the Namibian market and expand its presence. The bank now boasts 23 branches, 17 service centres and 115 ATMs.
“Standard Bank continues to expand its network and product offering to be able to make banking products available to all Namibians at affordable rates,” says managing director Theofelus Mberirua. “For instance, in line with the Namibian government’s vision to create a culture of saving, Standard Bank developed a savings product called PureSave with a number of advantages that include two free deposits and withdrawals per month, free life cover and low monthly management fees.”
Tied to this, the judges noted Standard Bank’s ongoing corporate social investment, which included an innovative campaign that asked Namibians to nominate social investment projects. Standard Bank backed this up with substantial donations to the winning projects.
