CDH Investment Bank enhances MoU partnership with LUANAR though tree planting exercise
The first activity under the memorandum of understanding (MoU) — that CDH Investment Bank (CDHIB) signed earlier this year with Lilongwe University of Agriculture & Natural Resources (LUANAR) signed — has been rolled out through tree planting exercise.
CDHIB has provided K3.5 million to LUANAR as the first disbursement of funds under the MoU that translates to 6,000 seedlings, which the university will channel to the Forestry Department.
The handover in Lilongwe on Wednesday was spiced by a tree-planting ceremony exercise at Chiseka Community Day Secondary School where the CDHIB’s Chief Treasury Officer, Zondwayo Mafuleka said: “This is the execution of the first activity that will contribute to LUANAR’s annual tree-planting initiative aimed at fighting climate change.
“CDHIB is mindful of how our country has been adversely affected by floods and cyclones that negatively impacted the economy through loss of energy, damage to properties and many other others.
“As a responsible corporate citizen, we are proud to contribute to the national tree planting season through this partnership with LUANAR. We trust that our efforts will contribute to a sustainable green environment that will reduce the negative impact of climate change — such as floods and power cuts and help restore Malawi’s economy.”
Mafuleka added that CDHIB “is proud to partner on this initiative that creates awareness on the need to manage the environment in the community and instills a passion for the protection of the environment”.
“The activity resonates well with the bank’s ethos to propel developmental growth by combating climate change as this will help our nation to build resilience to climate change and protect and restore ecosystems that underpin our green economy.
“We are confident our investment in our environment today, will create value in the development of our nation,” he said.
In his remarks, Bunda College Deputy Director, Dr. Dzanja commended for the partnership and fulfilling their obligation under the MOU, saying the university’s tree planting activities are instrumental in restoring the environment.
“LUANAR takes issues of reforestation and vegetative regeneration seriously and we continue to promote climate-smart and sustainable agriculture systems. The partnership that we have with the CDHIB through the MOU we signed contributes towards LUANAR’s strategic direction,” Dzanja said.
The activity was graced by various representatives from CDHIB, various deans and heads from LUANAR, chairperson of Board of Governors and headteacher for Chiseka schools, Traditional Authority for the area (T/A) CHiseka, the students from host school and neighbouring schools, as well as volunteers from the community.
T/A Chiseka applauded CDHIB for the tree seedlings and the LUANAR Bunda team for the initiative, saying they are now feeling the presence of the university through community outreach programs such as this tree planting.
Both CDHIB and LUANAR clocked 10 years of operations in 2022 and have each executed a variety of activities to celebrate their anniversary with the Bank spicing up their existence through the theme: ‘Creating Value’.
The MoU was signed on January 28 which is an investment worth K60 million towards three strategic initiatives for the period of three years from 2023 to 2025.
The Bank shall annually provide K20 million for the university to execute tree-planting initiatives, agri-innovation challenge and provide scholarships to at least 5 innovative, talented and unique students per year that join it from secondary schools under the LUANAR innovation scholarship program.
At the MoU signing ceremony at Bunda campus in Lilongwe, the Bank’s Executive Director, Beatrix Mosiwa Ndovi said the fund seeks to create value for the nation by supporting the fight against climate change for a green economy, improving access to education for talented students and further improve innovations.
“As we celebrate 10 years of banking operations, we believe that investment in our environment, innovation and supporting the education of talented needy students, creates value in the development of our nation as these initiatives positively contribute to the overall growth of our nation,” she had said.
Mosiwa-Ndovi further said the funding resonates well with the bank’s core purpose which seeks to see the growth of Malawi in all sectors, adding that CDHIB is passionate about helping businesses to grow.
As such, she said, the bank understand the impact of their contribution towards initiatives that are propelling developmental growth such as LUANAR’s tree-planting initiative to combat climate change, addressing innovative solutions to societal agriculture-related challenges and supporting education through scholarships.
In celebrating the 10th anniversary, CDHIB — which opened for business on April 2, 2012 — has made several corporate social responsibility (CSR) initiatives that include donating K16.9 million to Mary’s Meals towards construction of a kitchen and learners feeding block at Mbinda Primary School in Blantyre.
It also invested K15 million for the construction of a school block at Dzama in Lilongwe — a project being undertaken by University of Caroline
CDHIB has before contributed a lot to support the country’s education development efforts in a variety of ways over the past 10 years — ranging from provision of learning materials, infrastructure, financial support to less privileged students through their institutions of learning.
The Bank first rolled out as Continental Discount House Limited in August 1998 operating in the financial sector for 14 years before converting to CDH Investment Bank.
The bank is celebrating the 10th anniversary of providing banking services under the theme ‘Creating Value’ having grown through leaps and bounds in its positive contribution to the growth of many individuals, organizations and communities — and ultimately the nation.
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