Housing Finance Bank in partnership with Makerere University Business School (MUBS) has introduced an innovative Graduate Trainee Program scheduled to commence in 2024 to empower eligible young graduates with a comprehensive and structured training experience, fostering their capacity to learn, gain valuable work experience, and elevate their employability.
The formalisation of this partnership came to fruition with the recent signing of a Memorandum of Understanding (MoU) attended by distinguished representatives from Makerere University Business School, including Prof. Moses Muhwezi, the Principal, Mr. Francis Yosa, the School Secretary, and other senior leadership team members, showcased a collective commitment to the Program’s success. Housing Finance Bank’s delegation was led by Mr. Micheal Mugabi, the Managing Director, and Ms. Peace Ayebazibwe, the Executive Director, further underlining the significance of this strategic alliance.
Amidst the backdrop of 41 percent of Uganda’s youthful population (9.3 million) being categorised as not in employment, education, or training, the Graduate Trainee Program serves as a progressive avenue to confront the challenges of insufficient job creation for youth and the prevailing disparity between labour market demands and educational offerings. By embracing this initiative, Housing Finance Bank aims to harness the demographic dividend and contribute to realising the objectives outlined within Uganda’s third National Development Plan 2020/21-2024/25.
Ms. Peace Piwang, Chief Human Resource Officer at Housing Finance Bank, highlighted how the Program aligns with Uganda’s development plans and the Bank’s strategic intent. She stated, “We view this Program as an extraordinary opportunity to empower our educated youth with the essential skills required for financial independence and employment. By imparting these skills, we enhance their employability and pave the way for their financial autonomy. This, in turn, will significantly contribute to Uganda’s economic growth, as these graduates become taxpayers and seize diverse opportunities.”
Mr. Micheal Mugabi, Managing Director at Housing Finance Bank, emphasised the Program’s significance as the next step following the Bank’s engagement with universities and higher learning institutions through internship programs. He said, “This partnership with Makerere University Business School represents a monumental stride forward. The Graduate Trainee Program is designed to provide comprehensive hands-on training across various spheres, from accounting and finance to treasury operations. Furthermore, it will facilitate acquiring crucial soft skills, fostering effective collaboration among our graduates and staff. We eagerly anticipate the far-reaching benefits of this Program, envisioning it as an integral facet of our Bank’s identity, enriching the lives of our young graduates and the communities we serve.”
Prof. Moses Muhwezi (PhD), Acting Principal of Makerere University Business School, echoed his enthusiasm for this pivotal collaboration at a time when recent graduates confront limited opportunities to acquire industry-specific skills. He remarked, “Housing Finance Bank’s Graduate Trainee Program sets a commendable precedent for businesses nationwide and will undoubtedly have a substantial multiplier effect. Initiatives of this nature directly address the employability challenges faced by students who often lack the requisite skills. By providing essential training, this Program represents an invaluable contribution to shaping the future workforce. We sincerely thank Housing Finance Bank for its visionary commitment to this cause.”
While the Graduate Trainee Program partnership has started with Makerere University Business School, Housing Finance Bank envisions onboarding more universities and higher learning institutions to support Ugandans with clear opportunities for economic transformation and financial empowerment.