firstrand namibia foundation
The FirstRand Namibia Foundation was established in 1998. It is the vehicle through which FirstRand Namibia and its major operating businesses (FNB Namibia, RMB Namibia, WesBank Namibia and Ashburton Investments Namibia) direct their individual and collective corporate social investment spend. Since inception, the foundation has received 1% of FirstRand Namibia’s net profit after tax.
The foundation’s strategy has been to be an active and effective social investor and collaborator that is committed to contributing to the social and economic development of Namibia. This is achieved by working in a number of focus areas such as skills and capacity development, education and financial literacy, community and health development, arts and culture, sports development, environmental guardianship and primary health care. Over time the foundation aims to align its social investing activities with core business to provide further scale and impact.
The foundation also seeks to align with national initiatives, such as Namibia’s Vision 2030 and the Namibia Millennium Development Goals, to understand how its investments will support these national agendas. All disbursement decisions are made by the board of trustees, which comprises two sponsor trustees from FirstRand Namibia, and three independent trustees.
