MNG3701 Assignment 1 2025 | Due 31 March 2025

Introduction

Standard Bank of South Africa (SBSA), a prominent financial institution in Africa, plays
a crucial role in driving economic progress, promoting sustainability, and addressing
social challenges across the continent. With a strong commitment to inclusive financial
solutions, SBSA strives to generate long-term value for its stakeholders while actively
contributing to the achievement of the global Sustainable Development Goals (SDGs).
This essay examines SBSA’s initiatives in advancing key SDGs, assessing its short-
and medium-term objectives through the SMART framework, and evaluating the
effectiveness of its mission and vision statements. Furthermore, it explores how
SBSA’s strategic planning aligns with the Balanced Scorecard approach, offering a
comprehensive analysis of its strategic direction. By integrating theoretical principles
with practical insights from SBSA’s 2023 Integrated Report, the essay provides an indepth
perspective
on
the
bank’s
influence
on
Africa’s
socio-economic
landscape
and

its
broader
impact
on
sustainable
development.

1. Sustainable development goals (sdgs) addressed by standard bank

The United Nations’ Sustainable Development Goals (SDGs) serve as a global
initiative aimed at eradicating poverty, safeguarding the environment, and promoting
prosperity for all. Comprising 17 interconnected goals, they address key aspects such
as economic progress, environmental conservation, and social equity. The SDGs
establish a comprehensive framework that enables governments, businesses, and
communities to collaborate in fostering sustainable development. Within this
framework, businesses, including financial institutions, play a crucial role by aligning
their strategies and operations with SDG objectives to drive meaningful progress.
As one of Africa’s foremost financial institutions, Standard Bank acknowledges its
significant responsibility in promoting sustainable development across the continent. By
embedding the SDGs into its strategic approach, the bank has incorporated various
goals into its core operations and priorities, reinforcing its commitment as a purposedriven
financial
entity.

1.1. Financial Inclusion (SDG 1 and SDG 8)

Enhancing financial inclusion is essential for alleviating poverty (SDG 1) and promoting
economic development (SDG 8). Standard Bank demonstrates its commitment to this
goal by offering accessible and affordable financial products. Its MyMoBiz and MyMo
accounts provide low-cost banking solutions without minimum income requirements,
ensuring financial services are widely available. Furthermore, initiatives like WalletWise
focus on improving financial literacy, engaging 28.6 million individuals through
interactive platforms such as radio dramas and workshops.

1.2. Supporting Enterprise Growth and Job Creation (SDG 8)