January 01 2008
Deutsche Bank South Africa Invests R500,000 and Commits Volunteers in HOPE\'s Newest South African Alliance
World\'s leading global investment bank and US-based non-profit organisation seek to empower south african youth through financial literacy agenda
JOHANNESBURG, SOUTH AFRICA-- January 31, 2008 -- At the forefront of a global movement promoting financial literacy, Operation HOPE (HOPE) today announced their recent partnership in South Africa with international financial services leader Deutsche Bank.
Deutsche Bank\'s contribution includes a R500,000 ($71,000 US Dollars) commitment by the Deutsche Bank Africa Foundation, as well as employees of the bank in South Africa assisting as HOPE Corps volunteer members. These professional men and women will teach money management skills to students through HOPE\'s Banking on Our Future (BOOF) South Africa, an innovative financial literacy program designed to promote economic education, entrepreneurship, dignity, and a sense of self-reliance for South Africa\'s youth.
"We are deepening our relationship with Deutsche Bank," said Bill Walbrecher, President and Chief Operating Officer of Operation HOPE. "Where Deutsche Bank U.S. has supported our BOOF program and our HOPE Center Banking Network in New York City, Deutsche Bank South Africa will help further our existing efforts in the Western Cape and Gauteng provinces."
In supporting the award-winning program, the partnership with HOPE solidifies Deutsche Bank\'s status as a strong global proponent of financial literacy. "While Deutsche Bank is noted for providing its customers around the world with an impressive suite of investment banking and investment management products, we also firmly believe in promoting employee involvement and impacting the communities we serve in a positive way," said Frank Krings, Chief Operating Officer Europe of Deutsche Bank and a founding member of the recently announced HOPE global board of advisors. "We believe in the work Operation HOPE is doing and are proud to be part of its next phase of international expansion and collaborative effort here in South Africa," said Herman Bosman, Chief Country Officer of Deutsche Bank South Africa.
Since 1996, BOOF has been teaching young people the basics of managing their financial futures and surviving in a global economy. Launched on June 7, 2007 at CIDA University, the organisation has successfully recruited 130 HOPE Corps volunteers in South Africa through solid relationships with its other alliance partners including Citi, IFC of the World Bank Group, Standard Bank, and The Nelson Mandela Children\'s Fund.
Nkanyiso Mweli, program manager of HOPE\'s South Africa Gauteng office, is very excited about what he sees taking place in the region. "Having educated nearly 1,500 South African learners, using our HOPE Corps members to teach all the basic modules of financial literacy and entrepreneurship in Johannesburg, our expansion plans in Cape Town and Wellington later this year will continue to lay the foundation for future entrepreneurial endeavours."
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 77,920 employees in 76 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people. For further information on the Deutsche Bank Africa Foundation contact: Colin Brown Director Corporate Affairs email@example.com.