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December 11, 2014 11:46 AMCiti is the title sponsor of the It's Africa's Time series, which focuses on how businesses can help advance the United Nations Millennium Development Goals. In this episode, which began airing on CNBC in sub-Saharan Africa earlier this month, we travel to South Africa to explore how social impact investing is breathing new life into the gap housing market.Since the advent of democracy in South Africa, the government has done much to change the status quo for the poorest of the poor in the form of free medical services, social grants and government-built housing. But there is another economic income group with their own little-known set of problems. They have succeeded in rising out of poverty, and make up 30 percent of the population. Their aspirations are - like all of us - to live a better life, in homes they can afford to own or rent, in well-run urban apartment blocks or neat, well-serviced suburbs. Ade Ayeyemi, CEO for Citi in Sub Sahara Africa says, "There is still segregation in the real estate market. Of the 12 million households in South Africa, about five-and-a-half million fall into the workforce income group and there is a shortage of supply of housing for this sector."
By Magashini Pillay, Citi Public Affairs Officer - South Africa September 24, 2014 04:52 PMThrough the month of August, 12 Citi volunteers spent time in a classroom teaching young, eager pupils from Sandton View High School in Alexander (a township in Johannesburg) how to make wise financial decisions for their future.Supported by the Citi Foundation, Banking on Our Future (BOOF) is a project run by Operation HOPE SA. The programme is a six part award-winning financial literacy curriculum designed to help people, especially youth, to take control of their financial destinies. The modules are designed to encourage youth to develop behaviours that will help them to protect their financial resources and build wealth through budgeting and entrepreneurial activities. In addition to the financial literacy aspect of the project, the importance of dignity and respect for oneself is another concept that is stressed strongly throughout the curriculum. The hope is that the students learn more than just how to save. Ultimately, we want them to walk away well-rounded, responsible adults who can positively contribute to their community.
By Ferenc Benda and Raoul Blignaut, Citi South Africa Green Team Members May 03, 2013 12:14 PMCiti Green Teams are communities of Citi volunteers in offices across the globe who work together to share ideas, resources and best practices on sustainability. We then focus on implementing these green solutions into the Citi office environment, our homes and if possible, the broader community in which we live in. Our motto is "One Citi... One Planet" and we are committed to creating a sustainable future through the 3 "R's"- Reduce, Re-use, Recycle.
Below are three ways that the Citi Green Team in South Africa works toward the Citi motto and demonstrates commitment to sustainability: