Standard Bank honours ex-chair with K33m school

Standard Bank will build a junior primary school at Che Januare Village in Chiradzulu in honour of the contributions of the banks former chairman Alex Chitsime. The infrastructure is worth K33 million and comprises two classroom blocks.

Standard Bank boss Mashanda (l) and Chitsime
Standard Bank boss Mashanda (l) and Chitsime
Ground-breaking ceremony at the school’s construction site
Ground-breaking ceremony at the school’s construction site

During his decade-long tenure as chairman, Chitsime took Standard Bank to the top of the market in terms of profitability, a position the Malawi Stock Exchange-listed bank has maintained. He retired in 2014 and was replaced by Dr Rex Harawa, another eminent business executive.

Speaking at the ground-breaking ceremony at the school’s construction site, Chitsime said the K33 million invested by Standard Bank has demonstrated the institution’s commitment to the country’s socio-economic welfare.

“I am so grateful and indebted to Standard Bank. I never expected that a project of this magnitude would materialise in my home village. Standard Bank’s undying quest to make lives better distinguishes it from other banks,” he said.

Chitsime said the junior primary school represents a treasure for the people of Che Januare as it will mould future leaders of the country.

“This is no ordinary gift. Its impact will last over a life time and I share my joy with a whole constituent of ambitious children and parents,” he added.

The bank’s Chief Executive Andrew Mashanda waxed lyrical of Chitsime’s positive contributions to the financial institution saying he took the bank’s profitability from a low base to the top of the market as one of the top two banks in Malawi.

“He was very exemplary. We can never write history of the growth of Standard Bank in Malawi without the name of Mr Chitsime in it,” he said.

In her remarks, Principal Secretary for Basic and Secondary Education in the Ministry of Education Thoko Banda thanked Standard Bank for contributing to the reduction of shortage of classroom space that the government faces.

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angoni
angoni
6 years ago

33m. Direct costs. 5m
Indirect costs. 3m
Administration cost. 25m

Total. 33m

ka hai
ka hai
6 years ago

Mombera University @K100m, JP in CZ @ K33m. Convince me.

kalanda
kalanda
6 years ago

Are arguing on facts ,technical expertisee on construction cost or just bluffing?we need to ask first whats the breakdown for that sum there is alot involved in a construction project

dembere
dembere
6 years ago

Comment schoolgate

Namacherenga
Namacherenga
6 years ago

May be these are skyscrapers, kkkkk, what a joke!

Mlomwe wa Alhomwe
6 years ago

I also will do something when I retire osati za a Chitsime’zi who was supposed to dish out all the 33 million from his own pocket and not the dubious net profits that the bank milks its customers

KARU UNITED
KARU UNITED
6 years ago

Ma buloko awiri,33 milliyoni kwacha? zandiopsya! ndimafuna kuyamba kumanga nyumba yanga yogona yazipinda ZITATU,ndasiya.

Aseleka
6 years ago

Thats great

GUANTANAMO
GUANTANAMO
6 years ago

K33m should build a complete school. Let’s be realistic, ndalamayi ndiyochuluka

Chief examiner
Chief examiner
6 years ago

May be there will be some modern technologies or something in the class rooms who knows?

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