An Assessment of Corporate Social Investments: A Case Study of Stanbic Bank Uganda

Abstract

The main purpose of this study was to generally assess CSI in Uganda with particular attention to Stanbic bank Uganda limited. The study was guided by a number of related objectives which included the following. To evaluate the different corporate social investment initiatives in Stanbic Bank Uganda; To analyze the factors affecting the effectiveness of CSI in Stanbic Bank Uganda; To design a strategic framework that can help improve the implementation of CSI in the banking industry in Uganda. A descriptive survey was used in this study. It enabled the researcher to describe the findings in terms of their means and modes across the bank. The population focus was 150 respondents and majorly bank employees. A questionnaire with open ended and closed ended question was developed by the researcher and used in data collection. Company’s reports on CSI issues and journals were used to gather secondary data. Data analysis tools used in the research were Excel and SPSS and data was presented in form of tables. The study revealed that Stanbic Bank Uganda implements several CSI initiatives like promotion of inclusive education and training amongst the vulnerable children, financial literacy training partnership with AVSI, Stanbic Bank- GEMS Cambridge International school (GEMS) Charity run, Stanbic bank National Schools Championship, Stanbic bank business mentorship program, Entrepreneurship skills training for youths and Stanbic bank Youths Entrepreneurship Program in partnership with Junior Achievement. The benefits that accrue to banks’ CSI undertakings include a positive public image and presence, a transformation of lives in its areas of presentation especially in Education and business growth, and steady growth of market share through direct acquisition of new and customer retention and enhanced good governance relations. It was conclusively noted that bank continued to channel more resources to CSI initiatives, increase capacity through internal trainings, implementation and review of CSI activities as well as measuring the impact of such initiatives on the target communities.