Speaking at the launch, Education, Science and Technology Minister Bright Msaka SC commended the bank for investing in youth development and urged other organisations to complement government efforts in addressing challenges facing the education sector.

Msaka said Malawi’s education sector continues to face significant gaps that require increased support from

organisations and communities.

He highlighted the need for more primary and secondary schools and called for greater collaboration to ensure that children have access to education.

Msaka encouraged other organisations to follow Standard Bank’s example by investing in education and initiatives that create opportunities for young people.

As part of Project Youth, Standard Bank has contributed K50 million to the Malawi University of Business and Applied Sciences (MUBAS) Endowment Fund to support students facing financial challenges.

Standard Bank Chief Executive Officer Phillip Madinga said the initiative seeks to empower young people and create opportunities for them to participate meaningfully in the country’s development.

Madinga said Project Youth has three main areas of focus: skills development and youth participation, collaboration and partnerships, and media advocacy.

He said the initiative is ongoing and is not limited to a specific timeframe, stressing the importance of sustained investment in young people.

“The future of this country belongs to the youth, so we need to empower them,” Madinga said.

MUBAS Vice Chancellor Professor Nancy Chitera welcomed the K50 million contribution, saying it would strengthen the university’s efforts to support students in need.

Chitera said the university’s Endowment Fund continues to grow as more individuals and organisations contribute, although more support is still required.

She said almost 60 percent of MUBAS students are needy and require financial assistance, noting that their needs vary.

“Some only need upkeep, others need fees, while others need both fees and upkeep,” Chitera said.

She added that the contribution from Standard Bank would help the university support students struggling to meet the costs of higher education.

Project Youth is expected to provide young people with opportunities for skills development, education and participation while strengthening partnerships and using media advocacy to promote youth empowerment and development.