Citi Bank Supports Local Entrepreneurs, Launches Volunteer Africa Project

Citibank Zambia Ltd head office on elunda rounabout. Citibank's (Citi) headline earnings were in fourth place at K78.6million, a 15% slowdown from K92.99 million in June last year. Citi bank rallied behind Stanchart, Barclays and Stanbic Banks.

London: Citi has on 4 April launched its Volunteer Africa programme 2018, returning to Uganda to help a new group of local SME’s and entrepreneurs grow their businesses.This is according to a media statement made available to the Zambian Business Times – ZBT by Citi Bank Zambia.

Now in its third year, the program is attracting further support and becoming more global than ever, welcoming Citi’s EMEA Markets and Securities Services business to join global Citi Corporate & Investment Bank (CIB) and Capital Markets Origination (CMO) on the programme.

This year, 27 Senior Analysts, Associates and Senior Associates from CIB, CMO and EMEA Markets and Securities Services, will spend four and a half weeks working with local entrepreneurs based in Jinja and Mbale, using their skills and experience to help come up with ways to improve the overall business including growth, employment, and future investment opportunities.

Manolo Falcó, Head of EMEA Corporate and Investment banking at Citi, commented: “This is now the third year of the programme and we are immensely excited about what will be achieved and the long term impact for both volunteers and entrepreneurs. We are particularly pleased that this year will see analysts and associates from across global CIB, CMO and EMEA Markets working together, a fantastic and unique opportunity to build networks across businesses and geographies. I look forward to working with our dynamic group of volunteers this year. ”

Citi works in partnership with Balloon Ventures, a social enterprise that runs development programs to give micro-enterprises the training, funding and support needed to grow, create jobs and build communities.  Balloon has identified 18 entrepreneurs that our Citi volunteers will work with throughout the programme. The entrepreneurs run a broad range of small businesses including health clinics, fruit farms, restaurants and tailoring businesses. 

Phil Drury, EMEA Head CMO commented: “It gives me great pleasure to be involved in Volunteer Africa for the second year. Ultimately this programme is about achieving a positive impact. Firstly, supporting the entrepreneurs to grow their businesses, employ others and build local economies. Also to enable Citi’s Junior Bankers to develop their skills, build their knowledge of developing economies and establish strong networks with colleagues across the firm.”

The Citi Volunteer Africa programme launched in April 2016 and saw 12 Analysts and Associates from across Citi Investment Bank in EMEA volunteer their skills in Kenya, supporting small businesses to achieve sustained growth. The project received the personal support of Manolo Falcó, Head of CIB EMEA. In the second year, 24 Analysts and Associates volunteered their skills in two cities in Uganda – Jinja and Mbale.  The project was once again backed by Manolo with further support from Phil Drury, Head of CMO EMEA.


Leo Arduini, Head of EMEA Markets & Securities Services, commented: “We are thrilled to be involved in Volunteer Africa 2018, a project that we have followed closely over the last two years and can see the direct impact it has not only on the entrepreneurs we work with on the ground, but also for our employee’s here at Citi.  It is such a tremendous learning experience for everyone involved and gives Citi and our volunteers the opportunity to affect real change in the community.”


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