Financial institutions in Nigeria may now be recognising the strategic importance of technology and innovation in the banking sector. Recently, First Bank recently launched the First Bank Digital Lab while Union Bank introduced the Union Bank Campus Innovation Challenge.
Following the footsteps of these banks, Guaranty Trust Bank has unveiled the Social Impact Challenge. The Challenge invites individuals and groups to pitch ideas with the potential to enrich the lives of those in their community and receive funding from the Bank to execute the change. With the Social Impact Challenge, the Bank hopes to invest directly in the social infrastructure of at least 20 communities nationwide.
Join us. Pitch that simple idea,
show us how it can make a big impact in your community and we will help make it happen. Your time starts now… #SimpleChangeBigImpactFor more information visit https://t.co/iuYGnLqSjM pic.twitter.com/noCyMmFXJP
— Guaranty Trust Bank (@gtbank) July 11, 2018
How to participate
- Create a one-minute pitch video about your community development project idea using the hashtag #SimpleChangeBigImpact.
- Share your pitch video on your social media handle (Facebook, Twitter or Instagram) using #SimpleChangeBigImpact.
Content for the Pitch Video
- Details of the Idea
- The Execution Process
- The Community you will like to uplift
Making it happen
Pitch your idea and GTB would fund 20 project ideas up to N1 million Naira each across 20 communities to execute the project.
Execution timeline
Winners will be selected based on:
- Creativity
- relevance
- unique impact of the idea
- Feasibility of executing the idea within the stipulated time frame.
Deadline and winner announcement
- The Small Change Big Impact challenge commences on July 11, 2018. After several phases encompassing submission of entries and voting (see full description below), it will end with the announcement of final winners on August 8, 2018.
Submission Period
- Challenge Begins – July 11, 2018
- Challenge Ends – July 25, 2018
Voting Period
- Voting Begins – July 30, 2018
- Voting Ends – August 6, 2018
- Winners will be announced on August 8, 2018, on all GTBank social media including Facebook, Twitter and Instagram.
Commenting on the Bank’s Social Impact Challenge, the Managing Director and Chief Executive Officer of GTBank, Mr Segun Agbaje, said; “We are excited to organize an initiative that will showcase not just the ingenuity and creativity of Nigerians, but also their passion for making a positive social impact in their communities. This Social Impact Challenge reflects the premium we put on innovation and collaboration and demonstrates our commitment to giving back to society.
He further stated that “As we continue to transform our institution into a platform for enriching lives, we are fully integrating Corporate Social Responsibility into our business model such that our CSR initiatives now form a core part of the normal way we go about our business. This is driven by our strong belief that building a strong business and making the world a better place are essential ingredients for long-term success.”
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