The most cost effective way in which the world can make a huge difference is through strategic partnerships. And in the arena of health, an area in which Africa faces enormous challenges this could not have been more fitting.
Recognising the persistence of the health challenges in Africa (Ebola scourge comes to mind), Standard Bank and the Global Fund have extended their existing partnership to provide better financial tools and skills to organisations implementing programs to fight AIDS tuberculosis and malaria in Africa.
This is an extension of the pro-bono agreement signed in 2008 between the two organiSations. The MoU, which was signed on 15 April 2015, extends the relationship between the two organisations for an additional three years.
Chris Newson, Standard Bank’s Chief Executive for Africa said: “Through our partnership with the Global Fund and engaging with its grant recipients and program implementers, we are helping to make sure that grant efficiency and effectiveness is improving, which ultimately has a positive impact on the fight against the three diseases. By engaging our employees directly in this work, Standard Bank is building a strong connection to communities where it operates as well as to one of the world’s most essential development organizations.”
Antonello Barbaro from the Global Fund echoed the sentiments and added: “Through our work with communities across the continent we have found that financial and management skills play an important role in extending the impact of donor funding. Over the past seven years we have seen the positive impact of this partnership across a number of countries. We look forward to continuing our work with Standard Bank in contributing to Africa’s development”.
The Global Fund mobilises and invests US$4 billion a year to combat the AIDS, tuberculosis and malaria epidemics. It supports programs run by local experts in countries and communities most in need. More than 50% of that funding is directed to countries in Africa.
The MoU between Standard Bank and the Global Fund focuses on improving the financial skills and management expertise of Global Fund implementers. These include government health ministries, faith based organisations, non-government organisations and private sector foundations.
