Standard Chartered Bank and Voluntary Service Overseas (VSO) have launched Shs 1,056,000,000 Youth Empowerment, Entrepreneurship and Decent Employment programme.
The initiative of Future makers Foundation and VSO Uganda is aimed at addressing the challenges faced by the youth and marginalized persons in Kampala and Wakiso.
Youth in Uganda are the youngest population in the world, with 77 per cent of its population being under 25 years of age. There are 7,310,386 youth from the ages of 15–24 years of age living in Uganda. The unemployment rate for young people in Uganda ages 15–24 is 83 per cent. The unemployment rate is alluded to the skills needed for the jobs that are in demand for workers.
Speaking at the launch, Albert Salston, CEO Standard Chartered Bank said the purpose of this programme is to empower the youth, women and disabled persons to level up and improve their standards of living.
“Giving back is at the core of who we are and that is why we donated more than 1.6 billion shillings to organisations that were at the forefront of the fight against COVID-19 and we pledge to always step up,” he said.
“The Shs 1,056,000,000 Billion program will bring a significant impact to the youths in Kampala and Wakiso districts. We shall strategically empower youth through education, employable and entrepreneurial skills,” he said.
Sarah Mateke, Minister of State for Youth and Children Affairs said: “We are honoured to witness the launch of this noble endeavour and we appreciate all the contributions that private institutions and organisations towards the empowerment of youth in Uganda.”
She said the demand for funds to uplift youths’ livelihood continues to rise amidst the COVID-19 pandemic where resources are scarce.
“The Youths need to be supported to exploit their potential. We have a key role to play for the improvement of their livelihood,” the minister said.
Mr. William Mugerwa the program manager VSO Uganda said the one year project targets 500 youths in Kampala and Wakiso districts. Of the 500 youth, VSO will re-equip 100 graduates with skills required on the job market.
He said the youth will be trained for five months at the various designated Kampala Capital City Authority (KCCA) training centers, their workplaces and later be given startup capital in the form of machinery and sundry.
