Zenith Bank disclosed that it spent over N12 billion in five years (2014-2019) on Corporate Social Responsibility (CSR) investments in Nigeria.
Techeconomy.ng obtained this from a report tagged “Zenith Bank Plc 2019 Sustainability Report, ”made available on the Nigerian Stock Exchange platform.
The report stated that the bank’s CSR was categorized into five broad areas namely; Health, Education, Sports/youth, Empowerment, Government/public infrastructure and policy and other projects/support.
The financial institution noted that its healthcare initiatives are centred on providing maternal healthcare and medical support to members of its host communities.
According to the report, in 2019, the bank spent the sum of N345 million to provide medical support to low-income individuals in critical need of medical attention.
The bank explained further that it executed some other initiatives such as a donation to private sector Health Alliance of Nigeria, supporting Iga-Idunganran primary healthcare centre with medical supplies for 12 months and spearheading the O’Five charity initiative.
In furtherance of its policy execution, the bank said it is aimed at achieving free, equitable and quality education at various levels, such as primary and tertiary.
The report stated that in 2019, the bank spent N210 million in educational interventions and human capacity development.
It disclosed also that it executed some other initiatives which include the construction of a 500-capacity hostel for St. Finbarr’s college, Supported St. Saviour’s school with the sum of ₦20 million as annual sponsorship, Upgraded St. Francis Catholic school’s e-library, laboratories, wellness centre and classrooms amongst others.
Zenith Bank added that the reason it embarked on this initiative was to create additional livelihood options and decongest the corporate sector.
According to the report, the bank spent N238 million on investment in sports/youth and women empowerment. In terms of sports, the bank is a major sponsor of the Women Basketball League in Nigeria.
Also, the bank explained that the majority of its social investments goes into this category. The bank complements the effort of the government in securing lives and properties and providing development infrastructures.
The bank invested N1.42billion to support government and agencies of the government at different levels in 2019 also.