Just a week ago in Singapore, Standard Bank Wealth and Investment was recognised as Africa’s Most Outstanding Global Private Bank at Private Banker International’s 27th annual Global Wealth Summit and Awards. But this was not our only accolade; as focused on moving Africa forward through widespread empowerment as we are on making progress real through innovative financial solutions, we were also honoured for our philanthropic efforts.
Our Wealth and Investment division was honoured as Highly Commended in the Outstanding Philanthropy Offering, notably for our group-wide involvement in Feenix.org, a student-focused crowdfunding initiative.
With Standard Bank as its financier, enabler and go-to-market partner, the crowdfunding platform successfully allows companies and private individuals to securely donate money to tertiary students at one of 24 listed South African universities. Though only launched in mid-2017, Feenix, to date, represents 925 students (31 of whom have had their studies fully funded) and has raised R2 million.
According to Jayshree Naidoo, Head of the Standard Bank Incubator and Interim CEO of the Feenix Trust, Feenix.org is part of a many-sided strategy to develop meaningful, practical and sustainable ways to help the youth access quality education by removing some of their financial burden, and, ultimately, contribute to South Africa’s economic growth. The platform distributes the responsibility of funding as widely as possible, making the process as direct and easy as possible.
Philip Faure, Global Head: Wealth Advisory at Standard Bank, was at the Singapore-held gala event to receive Wealth and Investment’s awards. He says he felt honoured that Standard Bank was recognised by its peers for not only outstanding service and solutions, but also for its effective upliftment efforts.
“[Feenix] has been an incredible collaboration within Standard Bank,” he shares. “Its success is concrete proof that South Africans from throughout society are willing to work together to overcome some of our country’s toughest challenges.”