June 30—Stanbic Bank Uganda (SBU) has contributed UGX 10 million to the an initiative of the LéO Africa Institute.
Speaking at the handover ceremony held at the bank headquarters, SBU Head of Marketing Daniel Ogong said, “The youth are a key pillar in the transformation of Uganda and East Africa as a whole. As a bank we recognize the important role they have to play in our future socio-economic development which is the reason why more than 70% of our Corporate Social Investment Budget is directed towards Early Childhood Development projects, Primary and Secondary education.”
Started in 2017, the Young and Emerging Leaders Project will induct 20 outstanding thought leaders annually into a fellowship program designed to train and orient values of self-advancement, integrity, social responsibility, and socioeconomic transformation. The project was established within principles of the African spirit of Agaciro, which espouses the dignity, self-worth, and identity of the African as the cornerstone of leadership values.
Accepting Stanbic’s contribution on behalf of the Institute Kwezi Tabaro, the Deputy Director of LéO Africa Institute expressed his gratitude to Stanbic for the kind gesture and support. “We hope through this partnership to grow the fellowship as a continuous yearly engagement where we seek to create a generation of thinkers, leaders, commentators and influencers within our society. We welcome Stanbic on this journey to create a better society,” he said.
Ogong said, “When you take into account the fact Uganda has one of the youngest populations on the world such private sector interventions to supplement Government educational programmes are therefore critically important and very necessary.”
According to UN Statistics, over 78% Uganda’s population of about 36 Million people is below the age of 30. With eight million youth aged between 15-30, the country also has one of the highest youth unemployment rates in Sub-Saharan Africa. And though Uganda is making significant strides economically, it faces significant challenges in meeting its young people’s needs today and their challenges tomorrow as its population continues to grow at a rate of 3.2 percent annually.
Stanbic Bank Uganda provides the full spectrum of financial services. Its Corporate & Investment Banking division serves a wide range of requirements for banking, finance, trading, investment, risk management and advisory services. Corporate & Investment Banking delivers this comprehensive range of products and services relating to: investment banking; global markets; and global transactional products and services.
Talking about the criteria they used to select the candidates Kwezi said, “In selection of participants, we considered young leaders who are conscious of their duty in transforming society and are dedicated to promoting Africa’s interests and image in the world especially those concerned with addressing issues of poverty, climate change, unemployment, and fostering social justice.”
He said, “We anticipate in time to build a critical mass of individuals committed to personal development, advancement of career, and shaping a progressive future for Uganda and East Africa.”
The Young and Emerging Leaders Project, is one of a number of high impact youth oriented Social Investment projects that Stanbic supports. Others include, the 2017 SME Business Mentorship Programme where 210 SME were trained in strategic business management and the recent construction and handover in February of a brand new ECD center at Ggaba Market landing site which provides free daycare for 40 children from families working in the nearby fish market.