The first activity under the memorandum of understanding (MoU) — that CDH Investment Bank signed earlier this year with Lilongwe University of Agriculture & Natural Resources (LUANAR) signed — has been rolled out through a tree planting exercise.
CDH Investment Bank provided K3.5million to LUANAR as the first disbursement of funds under the MoU that translates to 6,000 seedlings, which was channeled to the university’s Forestry Department.
The tree-planting exercise took place on Wednesday 22nd March 2023 at Chiseka Community Day Secondary School where CDH Investment Bank’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 and help the 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 Acting Deputy Director, Dr. Joseph Dzanja commended CDH Investment Bank 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 CDH Investment Bank through the MoU we signed contributes towards LUANAR’s strategic direction,” Dzanja said.
The activity was graced by various representatives from CDH Investment Bank, 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 neighboring schools, as well as volunteers from the community.
T/A Chiseka applauded CDH Investment Bank 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 CDH Investment Bank 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 for the institutions partnership was signed on January 28, 2023 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.
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.
External link: https://www.nyasatimes.com/cdh-investment-bank-enhances-mou-partnership-with-luanar-though-tree-planting-exercise/