STANBIC Bank has invested US$100 000 towards an afforestation and land restoration programme with My Trees Trust, marking a significant step forward in the bank’s sustainability journey.
The signing ceremony, held last week in Harare, unveiled plans to plant 40 000 indigenous trees in Hurungwe District over the next three years, directly supporting 40 smallholder farmers and strengthening rural livelihoods.
This initiative forms part of the Blue Roots Initiative, a Standard Bank Group sustainability programme aimed at planting one million trees across Africa in recognition of the nearly one million business clients served by the group.
Speaking at the ceremony, Patson Mahatchi, Stanbic head of business and commercial banking, underscored the importance of the initiative for both the environment and the agricultural economy.
“We are committed to be more than a family institution, but a long-term partner.
“This initiative is not only about environmental restoration, but it is also about strengthening the foundation of Zimbabwe’s agricultural economy, which includes our environment and our farmers,” he said.
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Mahatchi emphasised that the partnership would ensure rural communities participate meaningfully in the agricultural value chain.
“This partnership with My Trees brings these priorities together by supporting the planting of over 40 000 indigenous trees.
“We are addressing environmental sustainability, which is a very key part for us as a bank,” he added.
Stanbic Bank head of legal and governance Neeta Joshi described the programme as a defining moment in the bank’s sustainability agenda.
“This moment represents an important step forward in our sustainability journey. It is more than the signing of an agreement. It is the affirmation of a shared responsibility to leave the environment stronger, healthier and more resilient for future generations,” she said. — Staff Reporter.