Standard Bank hosts supplier symposium

Seabata Mahao

In a bid to enhance communication and collaboration with its suppliers, Standard Lesotho Bank (SLB) this week held a supplier symposium in Maseru, bringing together suppliers, clients and other stakeholders.

The one-day event marked a significant milestone towards fostering collaboration, partnership, and sustainable growth with the bank’s various suppliers, clients and other stakeholders.

Held under the theme ‘Driving Sustainable and Inclusive Economic Growth in Partnership with Our Suppliers, Clients, and Stakeholders,’ the symposium aimed to foster meaningful dialogue, share insights, and encourage collaboration to shape the future of collective supply chains.

The focus was on sustainable practices, innovative supply chain models, and the importance of collective growth within the industry.

This year’s symposium follows the success of previous one, which led to improved understanding of the bank’s operations, policies, and values among suppliers. It also resulted in better compliance with regulatory requirements such as tax and anti-money laundering laws.

During his address at the dialogue, SLB’s Chief Executive Anton Nicolaisen emphasised the bank’s commitment to innovative solutions and fostering partnerships that empower clients and communities to achieve financial success.

He commended key customers and suppliers, both in person and online, for their vital role in the bank’s mission.

“Our role goes beyond traditional transactions; we play a significant part in advancing the country’s economic growth and facilitating development,” Nicolaisen said.

“It is the bank’s responsibility to support the economy through robust supply chain development. We want to be a trusted partner, and one of our key goals as a corporate leader is to create strong, lasting partnerships.”

The bank’s Head of Procurement, Ntsane Lesenyeho, highlighted that the primary purpose of the symposium was to enhance communication and collaboration between SLB and its suppliers.

“The symposium provides a platform for networking, sharing best practices, and fostering innovation, ultimately improving supply chain efficiency and building stronger partnerships. It allows suppliers and procurement teams to collaborate more effectively, strengthening relationships and improving communication.” Lesenyeho explained.

He also noted that the event assists the bank in meeting regulatory requirements and provides training to vendors on laws related to third-party engagements.

Additionally, suppliers had the opportunity to share advancements and industry trends, ensuring the bank and its stakeholders remain informed and competitive.

Mokhejane ‘Moleli, the Chief of Finance and Value Management, stressed the importance of a purpose-driven approach to business.

“To run a sustainable business, you need a purpose that goes beyond just making a profit. Lesotho is our home, and our growth efforts are closely tied to our social responsibilities here,” Moleli said, adding that SLB is committed to driving growth within Africa, with a special focus on Lesotho.