Standard Bank and Wits team completes SDG Challenge SA on food security and financial inclusion

The students analysed the barriers preventing communities from accessing and utilising existing financial solutions including mobile banking, savings accounts, and micro-loan facilities offered by financial institutions.

The Solution: An Integrative Food and Finance System

The Wits student team developed an innovative solution grounded in community research that identified three critical dimensions needed for successful financial inclusion: trust (the expectation that institutions are dependable), readiness (the capacity to act in response to opportunities), and capabilities (the real possibilities to perform actions and achieve outcomes).

Through surveys and semi-structured interviews with community members, the team uncovered significant barriers to trust in financial institutions, including high banking fees, limited engagement with low-income communities, and stringent qualification requirements. As one community member shared: "Banks only help people with salaries. We are not seen as real customers."

In response, the students designed a comprehensive Food and Finance Ecosystem, an integrated approach where education, production, technology, and financial inclusion work together to build trust, readiness, and capabilities simultaneously.

The framework comprises four key pillars:

• Food and Finance Academy: Educational programmes that equip community members with financial literacy, agricultural skills, and entrepreneurship training to build capacity and confidence in accessing financial services.

• Food and Forest Hubs: Community based centres that serve as practical learning environments and production sites, enabling participants to apply their knowledge while generating income through sustainable agriculture and agroforestry practices.

• AI Integration: Smart technology solutions that connect community members to financial services, provide personalised guidance, and help track progress towards food security and economic goals.

• Bootcamp: Transforms readiness into capability through hands-on training in climate smart agriculture, agritech, and financial literacy, with community participation gaining immediate access to green credits, irrigation grants, and microloans.

Wits students team pitching at grand finale

This integrated approach ensures that communities are not only made aware of available financial services but are also equipped with the knowledge, skills, and confidence to utilise them effectively in pursuit of food security and economic independence.

Standard Bank's partnership with the UN SDG-Challenge SA exemplifies how youth-driven initiatives can create impactful solutions that respond to broader societal challenges, highlighting the critical role that financial institutions play in achieving food security and economic resilience.

As stated by Dr Manessah Alagbaoso, head of Business Ecosystems and Sustainability at Standard Bank Group, "The insights provided, and solutions developed by the University of the Witwatersrand students have provided us with a new perspective on how communities perceive and interact with financial services institutions. By addressing these trust barriers and readiness gaps, we can better serve communities on their journey towards food security and economic empowerment. As Africa is our home and we drive her growth, these learnings will shape how we approach financial inclusion in support of the UN Sustainable Development Goals for our clients across the continent."

This initiative also aligns with Standard Bank's broader commitment to responsible banking practices and sustainable development across Africa. "The UN SDG Challenge South Africa 2025 Edition has once again demonstrated the value of bringing together business expertise and academic innovation," as stated by Amelia Francis, head of Programme: SDG-Challenge SA at SoapboxSA. "Standard Bank's continued commitment to this initiative shows true leadership in sustainable development. The partnership with the University of the Witwatersrand has produced insights that go beyond theory and lectures; these are practical, implementable solutions that will have a meaningful impact across South Africa and the continent."

Dr Andrea Campher engaging with student team at the Design Sprint Day

Students team pitching at grand finale

The experience resonated deeply with Peo Moapare, a Master of Commerce in Applied Development Economics student, who shared: “The SDG-Challenge SA with Standard Bank has been eye opening, but also incredibly fulfilling. It has given me a glimpse into the human aspect of finance, especially in relation to food security, a challenge that affects everyone in some way. Working with Standard Bank has opened my eyes to how far-reaching their operations are beyond just lending. I’ve come to appreciate the role financial institutions can play in bridging gaps and driving solutions to food insecurity.”

Ridhwaan Ebrahim (Bachelor of Commerce in Banking, Corporate Finance, and Securities Law) reflected on the nature of his experience: “I’ve been forced to dive into the realm of the unknown, a rabbit hole of every big question, poverty, hunger, inequality among others. This challenge has pushed me to think about every link and every touch point. In an attempt to pave my way, not to find the perfect solution, but rather to make it.”

As the 2030 deadline for achieving the UN Sustainable Development Goals approaches, partnerships like these become increasingly vital in driving meaningful progress. Standard Bank and SoapboxSA look forward to implementing the solutions developed during this challenge while continuing to champion sustainable development and financial inclusion across Africa. Through collaboration and innovation, we can pave the way for responsible banking practices that benefit both communities and the planet.