Standard Bank breaks ground for new N$650 million head office

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Staff Reporter

Windhoek-As a contribution to the country’s infrastructural and economic growth, and as a sign of its commitment to enabling productive investment to support such growth, Standard Bank broke ground for a new head Office in Windhoek last Thursday.

The ceremony held in the capital was officiated by Minister of Presidential Affairs Frans Kapofi, on behalf of President Hage Geingob, Standard Bank Group chairman Thulani Gcabashe, as well as chairman of Standard Bank Namibia Herbert Maier and deputy chairman Jerry Muadinohamba.

The new four-star rated green sustainable A-Grade building, which will be constructed at a cost of close to N$650 million, will be located in the emerging hub of Kleine Kuppe, behind the popular Grove Mall, next to Pupkewitz Mega Centre in Chassie Street.

The envisaged new infrastructure will enable the bank to accommodate all its operational departments in one building, ultimately enhancing the overall operations.

The four-star rated green building will comprise of four office floors of 10,500 square metres, and 400 parking bays, with of 345 basement parking and 55 on ground level, as well as a private parking section of 1,885 square meters.

The purpose of the new state-of-the-art head office complex is to create a more accessible, collaborative, engaging and interactive experience for staff to deliver excellent service to customers.

Speaking on behalf of President Geingob, Kapofi said the groundbreaking is indicative of the fact that the progress of the country’s developmental drive remains positive.

“Despite the headwinds, Namibia’s economic future is sound and stable and the upcoming new Standard Bank head office is just one amongst several indications that speak to the economic development and the financial empowerment of our nation,” he said.

In the statement read in his behalf, the Head of State further said: “As the nation enters a period of fiscal prudence and responsibility, in keeping with the goals and objectives in the Harambee Prosperity Plan, I am pleased to note that Standard Bank is committed to facilitating and supporting public and private sector investments and initiatives. These contributions will ensure that Namibia’s longterm outlook remains positive.”

The president applauded Standard Bank for being an institution that goes beyond just providing financial services, but on that is vested in transforming the lives of disadvantaged Namibians, who live in abject poverty due to unemployment and lack of decent housing, citing some of the bank’s corporate social investment initiatives.

“I commend Standard Bank for supporting and helping to uplift the communities of the regions in which it operates through its corporate social investment initiatives. It is evident that you have embraced the Harambee philosophy and have met government halfway in order to address the country’s current housing shortage, through projects such as the Buy-a-Brick initiative, which was supported by N$1.4 million donated to the Shack Dwellers Federation of Namibia last year.

These noble efforts will go a long way in helping to address the shortage of decent housing for our people, where an estimated 500,000 Namibians live in informal settlements in the country. Keep up the good work and let’s keep growing our Namibian house – one brick at a time,” said Geingob.

In his remarks, Standard Bank Group chairman Thulani Gcabashe said the completion of the new head office two years from now signifies the bank’s steadfast commitment to growing the industrialisation of Namibia and elevating the economy to even greater heights.

“Namibia’s stable economic situation and conducive business environment makes this country an increasing major investment and economic hub for the African continent. In view of this Standard Bank has been playing its part to foster this economic growth and ultimately industrialisation of the economy,” said Gcabashe
The first phase of the new Standard Bank head office is expected to be completed by 2019.

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