Stanbic gives Rotary a Ushs 50 million hand

July 13, 2016 in Business, Companies by Editor

Kampala, 13 July 2016: Stanbic’s Ugandan unit has committed Ushs 50 million in support to a youth empowerment project initiated by the Rotary Club of Kampala North In Busunju, 5o kilometers north of Kampala.

The money to be released over the course of five years will help the Rotary Club develop a new youth entrepreneurship centre in Namulamba, Busunju Town Council.

According to Fred Mugisha, Stanbic Uganda’s Business Development Manager, the bank will in addition to the money, send its employees to conduct financial literacy programmes with the youth at the centre.

“As a bank that is close to the communities in which we operate, we identify with this project because it addresses a challenge faced by the youth of this country. The skills learnt from this initiative will not only benefit the individuals involved but the community as a whole. We are committed to working with Rotary Club of Kampala North over the next five years to ensure that the project realizes its objectives,” Mugisha said.

Although youth make up the biggest percentage of Uganda’s population, most of them lack entrepreneurship skills and are unable to take advantage of opportunities, a gap the Entrepreneurship Centre seeks to address.

The proposed Toto and Vijana Entrepreneurship Centre will address some of the challenges faced by the youth such as unemployment and lack of skills through mentoring and skills development, says Ms.Margaret Nakanjako Njeri, the Kampala North Rotary Club President.

Sitting on 20 acres on land, the centre will house classrooms, a library, computer labs, administration offices, training workshops and accommodation facilities. It will also provide shelter to orphans and other vulnerable children, and create employment for the growing number of unemployed youth, through humble business startups.