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NSSF, MasterCard offer Shs4.8 billion seed capital to support homegrown businesses

National Social Security Fund (NSSF) and the MasterCard Foundation through the Hi-innovator program will provide up to Shs4.8 billion in seed capital to 64 deserving businesses.

These businesses were meticulously selected from a competitive pool of over 500 candidates who participated in the 2023 cohort. The scrutiny and training of these businesses are carried out by Outbox, a renowned organization supporting innovation and entrepreneurship, with a track record of aiding over 150,000 entrepreneurs.

The announcement of the selected businesses and their respective funding amounts was made by Alex Rumanyika, Head of Strategy at NSSF. With this round of funding, the Hi-innovator program has now supported a total of 306 businesses, injecting up to 18 billion shillings since its inception in 2021. Rumanyika emphasized that the Hi-innovator program has a clear investment goal set for its first five years.

He expressed satisfaction with the current progress, stating that the businesses selected are a testament to their journey toward reaching this target.

“Our goal for the Hi-innovator program is to invest in at least 500 enterprises by 2025. The businesses selected today are an affirmation that we are on the right track to reach that target within the set timeframe,” Rumanyika said.

Initiated by NSSF, the Hi-innovator program aims to strengthen entrepreneurship in Uganda, ultimately leading to job creation and an expansion of the fund’s membership base. Rumanyika noted that they are working to make this program systemic, readily available, and easily accessible to entrepreneurs across the country.

The selected businesses will undergo thorough due diligence to ensure compliance with program requirements. After successful evaluation, each business will receive Shs75 million in seed funding. These businesses represent various sectors, including agriculture, the digital economy, and light manufacturing. Noteworthy among them are companies in cosmetics, waste management, clothing manufacturing, website and app development, and more.

Richard Zulu, founder of Outbox and the lead implementer of the program, emphasized that these sectors were given priority due to their potential to create dignified and fulfilling job opportunities for youth and women. According to Zulu, the Hi-innovator successful businesses and entrepreneurs are expected to be role models in the business ecosystem, and this investment is just the beginning. The Hi-Innovator Program is a collaborative effort between NSSF and the MasterCard Foundation, with Outbox spearheading its implementation and supported by up to fifteen other enterprises and organizations.

The program has created over 111,000 jobs, with a significant portion benefiting youth and women. Additionally, more than 16,000 entrepreneurs have been trained through the NSSF Hi-Innovator Business Academy, with 47 percent being women and 32 percent youth. This underscores the program’s commitment to empowering individuals and fostering a thriving entrepreneurial ecosystem in Uganda.”

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Museveni assures tourists strong security after Queen Elizabeth National Park attack

Gen. Yoweri Museveni Commander in Chief of armed forces and President of Uganda.

President Yoweri Museveni has assured the country that security agencies have embarked on a pursuit mission for the assailants who attacked tourists in Queen Elizabeth National Park.

 On Tuesday, unknown terrorists attacked a tourist vehicle in the park killing a South African and British tourist as well as their driver in an incident that happened in Kasese.

In a statement, Museveni described the incident as being unfortunate and infuriating.

“A couple of tourists and the Ugandan driver with them were killed at around 1800hrs on the Katwe- Kabatooro murram road, by a small group of terrorists running away from our operations in Congo, as I had shared with you in a previous message. It was a cowardly act on the part of the terrorists attacking innocent civilians and tragic for the couple who were newlyweds and visiting Uganda on their honeymoon. Of course, these terrorists will pay with their own wretched lives,” Museveni said.

He noted that the security agencies including UPDF, Police, Uganda Wildlife Authority are on the matter to ensure the assailants are brought to book but to also ensure “these mistakes do not happen again and that ADF is wiped out.”

 “The wiping out is moving very well. What needs to be done is to ensure that the remnants do not commit these atrocities. “

He explained that whereas UWA rangers guard the tourists once they are in the park, of late, tourists were arriving and departing the parks individually and that it was this gap that the assailants took advantage of.

The president noted that the Ugandan army has been using one form of tracking these fugitive groups from Congo by following their tracks but said more reliable ways of tracking them have been discussed and will be applied.

 “The terrorists will be defeated like Kony was defeated and the cattle rustlers that have been killing people in Karamoja and the surrounding districts or those that were cutting People with pangas (bijambiya) in Masaka,” Museveni assured.

The Tuesday incident is an isolated one since it is the first in many years happening in Queen Elizabeth National Park and any other national park in the country.

Uganda Wildlife Authority on Tuesday assured tourists of their security while in the national parks.

UPDF Spokesperson Brig Felix Kulayigye says a manhunt is on for those responsible for the tourist attack in Queen Elizabeth National Park, Kasese.

“ADF hoped to divert us from Operation Shujaa. We have sufficient resources to deal with the terrorists, both inside the country and DRC,” Kulaigye said.

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Local CIs, MDIs grow total assets as BoU unearths rot in banks

An Equity Bank branch

KAMPALA, October 18, 2023 – Total assets held by Credit Institutions (Cis) grew by 10.2 percent to Shs490 billion at the end of June 2023 from Shs445.3 billion at the end of June 2022, according to the latest Bank of Uganda (BoU) Annual Report 2022-2023.

The BoU report attributes the growth of total assets of the CIs to an increase in loans and advances by 8.9 percent to Shs280.7 billion and placements with commercial banks in Uganda by 73.1 percent to Shs70.4 billion, over the review period.

Further, the report says, the aggregate core and total capital to risk-weighted assets ratios of CIs in Uganda improved to 18.6 percent and 19.5 percent from 12.4 percent and 13.3 percent, respectively, well above the regulatory requirements.

On the other hand, the report says customer deposits contracted by 2.3 percent to Shs243.3 billion, mirroring a period of tightened liquidity for CIs. ‘In line with this trend, the CIs’ NPL ratio worsened from 6.1 percent in June 2022 to 8.3 percent in June 2023, partially attributable to the challenging macroeconomic environment and a deterioration in the repayment capacity for micro borrowers,” says the report.

Tier III – Microfinance Deposit-taking Institutions

According to the report total assets of Microfinance Deposit-taking Institutions (MDIs) marginally increased by 14.7 percent to Shs864.4 billion at the end of June 2023, largely due to a 15.8 percent increase in gross loans and advances.

Despite an improvement in the MDIs’ NPL ratio from 6.8 percent to 5.7 percent, the report says aggregate core capital–to–risk weighted assets and total capital–to–risk weighted assets ratios reduced from 38.6 percent and 41.3 percent in June 2022 to 34.8 percent and 37.5 percent in June 2023. “This reduction was partly due to the introduction of Basel’s operational risk requirements for SFIs’ capital, emphasizing the necessity of robust capital buffers in counteracting operational risks.”

BoU onsite examinations unearth rot in financial institutions

Throughout the year, the report says, BoU carried out onsite examinations at several banks, unearthing some shortcomings. “Identified shortcomings ranged from poor risk management practices and governance lapses to outdated banking systems and a high rate of staff turnover.”

The report adds: “Concurrently, a pilot run of the revised risk-based supervision framework highlighted operational and credit risks, vulnerabilities in digital platforms, insufficient core banking systems, and corporate governance deficiencies. These observations underscore the need for reinforced strategic planning, risk management, and corporate governance across all SFIs.”

The report says BoU has, in response, issued specific time-bound directives to these institutions to rectify the identified areas of concern.

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UNOC moves to become sole supplier of petroleum products in Uganda

Chief Executive Officer of the Uganda National Oil Company Proscovia Nabbanja met with Commissioner General John Musinguzi.

The Chief Executive Officer of the Uganda National Oil Company (UNOC), Proscovia Nabbanja met with Commissioner General John Musinguzi to share progress on UNOC’s plan to be the sole supplier of petroleum products in the country.

According to Nabbanja, UNOC intends to replace the current Kenya open tender system such that Kenyan suppliers only supply to Kenya and oil companies in Uganda source from UNOC.

This meeting was a follow-up of the presidential directive that allowed UNOC to be the sole importer of petroleum products in light of the election instability in Kenya that caused delays in the movement of goods, including petroleum products which caused fuel prices to shoot up.

The government envisages the move will stabilize stocks and prices while opening a new revenue stream for Uganda.

Nabbanja called for a meeting among URA, KRA and UNOC to discuss the tax implications, documentation required and support to ensure the success of the project.

Musinguzi commended UNOC on the progress and asked them to minimize the inefficiency in the open tender system once they take over.

He noted that fuel is the biggest contributor to customs revenue and asked the team to maintain the current arrangement of paying taxes before fuel exits the port in Mombasa.

“I hope you are aware of the arrangement with the current suppliers, who pay all their taxes before fuel leaves Mombasa. So, as you sign up, beware of the arrangement so that you don’t disrupt the revenue collection,” Musinguzi affirmed.

He also pledged to support and work closely with the team, adding that petroleum is the heartbeat of revenue.

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Suspected ADF rebels kill three in Queen Elizabeth National Park

The joint security forces are investigating suspected ADF Rebels who on Tuesday evening shot and killed three people including two foreign tourists before burning their vehicle in Queen Elizabeth National Park in Kasese District.

The three, a British national, a South African citizen and their Ugandan guide are said to have been attacked at Nyamunuka along Katwe Road in the Western Uganda district of Kasese, according to Uganda Wildlife Authority (UWA) spokesperson, Bashir Hangi.

“The deceased, whose names are withheld, include a Ugandan tour guide, a UK citizen and a South African citizen were travelling under Gorilla and Wildlife Safaris, a local tour company,” Mr Hangi said.

He added that UWA had already informed the Uganda Police and other security agencies “who are working diligently to establish the precise sequences of events leading up to this horrific incident and to identify those responsible.”

The Tourist Vehicle in which the two foreign tourists and a Ugandan were traveling when the attack happened in Queen Elizabeth National Park.

The Uganda Police Spokesperson, SCP Fred Enanga linked the “cowardly terrorist attack” on the tourists to the extremist ADF rebels usually based in the east of the neighbouring DR Congo.

“We have registered a cowardly terrorist attack on two foreign tourists and a Ugandan in Queen Elizabeth National Park,” Enanga said in a Tuesday police statement.

 “Our joint forces responded immediately upon receiving the information and are aggressively pursuing the suspected ADF rebels. We express our deepest condolences to the families of the victims,” he added.

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Uganda’s Olympic Aspirations: Pursuit of Sporting Excellence

Joshua Cheptegei in the 5000m Olympics race

The Olympic Games, often described as the pinnacle of athletic competition, have long been a platform where nations showcase their sporting prowess. For Uganda, a nation with a rich history of athletic achievements, the Olympics represent a dream that embodies the pursuit of sporting excellence. As Ugandan athletes prepare to compete on the world’s grandest stage, the role of platforms like sportbet.ug in supporting their journey cannot be understated. This article delves into Uganda’s Olympic aspirations, the challenges faced, and the nation’s unwavering commitment to achieving sporting greatness.

Uganda at the Olympics

Uganda’s journey at the Olympic Games dates back to the 1956 Melbourne Olympics when the country debuted. Over the years, Ugandan athletes have left an indelible mark on the world stage, particularly in long-distance running and athletics.

The 1972 Munich Olympics marked a historic moment for Uganda when John Akii-Bua became the nation’s first Olympic gold medalist, winning the 400-meter hurdles. His victory brought joy to Uganda and signaled the country’s potential to compete at the highest level.

In the field of long-distance running, names like Stephen Kiprotich, who won the marathon at the 2012 London Olympics, and Joshua Cheptegei, who secured two medals at the 2020 Tokyo Olympics, have solidified Uganda’s status as a force to be reckoned with in the world of sports.

The Road to Tokyo 2020: A Triumph of Resilience

The journey to the 2020 Tokyo Olympics, which took place in 2021 due to the COVID-19 pandemic, showcased the resilience of Ugandan athletes. Despite the challenges posed by the pandemic, Uganda’s athletes persevered.

Joshua Cheptegei’s double-medal performance in the 5000m and 10000m events was a highlight of Uganda’s Olympic campaign. His gold and silver medals brought glory to the nation and showcased Ugandan athletes’ dedication and determination.

Support from SportBet

In the pursuit of sporting excellence, support from various stakeholders is crucial. Platforms like SportBet have played a significant role in bolstering Uganda’s Olympic aspirations. Beyond providing sports enthusiasts with opportunities to engage with their favorite athletes and teams, SportBet.ug has contributed to the financial backing of Uganda’s athletes.

Through partnerships and sponsorships, SportBet.ug has provided financial support to athletes, enabling them to focus on their training and preparation. This support has been instrumental in ensuring that Ugandan athletes can compete at the highest level without being hindered by financial constraints.

Challenges Faced

While Uganda’s Olympic journey has been marked by achievements and moments of triumph, it has not been without its fair share of challenges. Limited funding, inadequate sports infrastructure, and the need for better sports management and governance remain persistent hurdles.

Funding remains a critical issue, with many athletes needing help accessing resources for training, equipment, and international competitions. Developing sports infrastructure is also essential to provide athletes with world-class training facilities.

Additionally, improved sports management and governance are necessary to streamline sports administration in Uganda, ensuring that resources are utilized efficiently and transparently.

The Way Forward

Despite the challenges, Uganda’s commitment to achieving sporting excellence at the Olympics remains unwavering. The government and private sector partners are increasingly recognizing the importance of investing in sports infrastructure, talent development, and sports management.

Initiatives such as talent identification programs and sports academies are being established to nurture young talent from a grassroots level. These programs aim to identify and support promising athletes, providing them with the necessary resources and guidance to reach their full potential.

Moreover, partnerships with international organizations and sports governing bodies are being forged to enhance the training and development of Ugandan athletes. These collaborations provide access to expertise, funding, and exposure to international competitions.

The Future of Ugandan Athletics

As Uganda looks to the future, the nation’s Olympic aspirations continue to burn brightly. The success stories of athletes like Joshua Cheptegei, Jacob Kiplimo, and Winnie Nanyondo inspire the younger generation to pursue their dreams and strive for excellence in sports.

With the right support and continued dedication, Uganda is poised to produce even more Olympic champions who will proudly carry the nation’s flag on the world stage.

Conclusion

Uganda’s Olympic aspirations represent a journey of determination, resilience, and unwavering commitment to sporting excellence. While challenges exist, the nation’s athletes continue to defy the odds and inspire the nation with their achievements. With continued support, investment, and determination, Uganda’s Olympic dreams are well within reach, and the nation’s athletes will continue to make their mark on the world stage.

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Five NUP MPs suspended from Parliament

Troubled Francis Zaake.

The Deputy Speaker of Parliament, Thomas Tayebwa has suspended five National Unity Platform Members of parliament from attending plenary sitting for three days and these include; Betty Nambooze (Mukono Municipality), Joyce Bagala (Mityana DWR), Derrick Nyeko (Makindye East), Frank Kabuye (Kassanda South) and Francis Zaake (Mityana Municipality).

The decision followed the disagreement among the legislators on playing the videos of arresting the National Unity Platform Principal Robert Kyagulanyi on his return from South Africa and his supporters on the Independence Day as they organized a national prayer day.

Francis Zaake’s discipline at Parliament has been disgusting as last week he was referred to Parliament’s Rules, Privileges, and Discipline Committee for allegedly making derogatory remarks against Juliet Kyinyamatama which many opposition legislators protested the move.

Earlier today, a section of Makerere University students from Rakai District had asked Parliament to subject Francis Zaake (Mityana Municipality) to a mental health test, saying the irrational, improper, impractical and unprofessional conduct of Zaake doesn’t speak of someone in a good mental state.

“We also pray that Parliament considers subjecting Zaake that exhibits such behavior to a mental health test. We all know that the country is built on one of the strongest institutions which is family therefore such tarnishing remarks catalyze domestic violence breaking down families which consequently leads to the breakdown of the country,” James Guma, Secretary General, Makerere University Rakai District Students Association.

However, during the plenary sitting Jonathan Odur (Erute South) suspected plain clothed security operatives at Chambers of Parliament and raised alarm about their presence, claiming they were seen carrying firearms, yet these are not allowed inside Parliament

“I have been in this Parliament in the past and during the short break, I have seen people who aren’t MPs and they are carrying firearms, it brings my memory to what happened during age limit would you guide that whoever is carrying a pistol to retreat back and allow MPs exercise their rights freely,” Odur alarmed.

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NUP’s one million march was intended to incite civil disobedience- Minister Muhoozi


The State Minister for Internal Affairs, David Muhoozi has accused the National Unity Platform Principal, Robert Kyagulanyi alias Bobi Wine of inciting civil disobedience on 30th September 2023, as he announced his return from his Political Mobilization tour in Canada and South Africa, as his supporters had planned to use his return to march from Entebbe airport to State House Entebbe in a demonstration dubbed “one million march”.

“This could not be taken lightly. In order to avert the lawlessness that could result from this, the Police with other security forces, deployed proactively to prevent the mobilization for the illegal procession and anticipated associated mischief. Some of the planners were arrested in areas of Kampala Metropolitan Policing area, and some were arraigned in courts of law and later released on bond,” Muhoozi said.

Speaking about Bobi Wine’s arrest from the plane, Muhoozi said that despite him being a former presidential candidate, this does not put him above the law and urged his friends and supporters interested in meeting him to go to his home, instead of turning the airport or streets as their meeting point.

“The airport is a very delicate & busy place, so too are the roads and streets, which are shared by other users. Preventative measures had to be taken. This country has a government and is governed by and according to the law. Anarchy cannot be permitted. Nobody is above the law, whatever our social standing,” Muhoozi said.

However, Leader of Opposition, Mathias Mpuuga has been dismayed by the technical officer at Parliament charged with playing the video that had been submitted by the Opposition claiming that it had disappeared.

Mpuuga said that this speaks of sabotage to not have the video played in Parliament.

“This House is a House of record not a House of rumor mongering because I act and work meticulously, I have cross checked in the technical room, the officer in charge of the running the video has run away. The person charged with running the video has disappeared, that speaks to deliberate sabotage and we can’t accept that as MPs on this side,” Mpuuga said.

Earlier, there were attempts by NRM MPs to stop the playing of the video from the Opposition after Isaac Otimgiw (Padyere County) demanded the Opposition to table evidence of the authenticity of the video they had planned to play before Parliament.

“I am not against having the video played, but I am just wondering if the Leader of Opposition has submitted the certificate of the authenticity of the video we are about to play. Technology has really advanced. So, we need the authenticity of some of these things,” Otimgiw said.

Yorke Alion (Aringa South) wondered why a video concerning the arrest of Bobi Wine and his supporters who are not MPs is being given the same merit of having it played before Parliament as that of Zaake and Kinyamatama who are MPs.

“The two are MPs in Parliament but the matter at hand is between an MP in Parliament and a non-MP. Is it procedurally right to have a video concerning a non-MP to be played in this House,” Alion said.

Electricity disappeared shortly within Parliament premises just as the Deputy Speaker was putting the question on whether the video by the Opposition should be put to a vote. However, the generator was immediately switched on.

Deputy Speaker, Tayebwa has been forced to suspend Parliament for 10 minutes after the Staff of Parliament meant to play the video that the Opposition had submitted showing evidence of security forces brutality against NUP supporters, disappeared from the technical production room of Parliament.

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Justice Ssekaana urges Tax Appeals Tribunal to focus on effective revenue dispute resolution

Justice Musa Ssekaana

High Court judge, Musa Ssekaana has urged members of the Tax Appeals Tribunal (TAT) to always focus on facts in legal disputes before them rather than dwelling on technicalities that scare away taxpayers.

According to the head of the Civil Division of the High Court Justice Musa Ssekaana, taxpayers are more comfortable having their disputes resolved by the Tax Appeals Tribunal as opposed to a court of law and as such, he has asked members of TAT to be flexible, simple and transparent while handling tax disputes before them.

Justice Ssekaana made the remarks while officiating a week-long training of the TAT members at the Judicial Training Institute in Kampala.

The TAT was established by an Act of Parliament in 1997 and it opened its doors to the public in May, 1999. The tribunal was set up as a specialized court to provide the taxpayer with easily accessible, efficient and independent arbitration in tax disputes with the Uganda Revenue Authority (URA)

However, Ssekaana has reminded them to know that they are a special tribunal which should show their expertise in dissolving tax disputes but desist from copying the operations of courts of law that engage in legal jargons and technicalities.

He also reechoed the functions of the Tax Tribunal as reducing incidences of tax evasion because the taxpayers expect the tribunal to be fair and more transparent than a court of law. He said they should also minimize delays and bottlenecks in arbitration of tax disputes and also create an avenue of interrogation of parties so as to probe further.

Ssekaana explained that if the Tribunal thinks a Uganda Revenue Authority official -URA is hiding something or information, they should demand for it. He said if that official doesn’t want to step before the Tribunal to defend their personal decisions, the Tribunal should summon them and demand explanations as to why they make such decisions that are causing a dispute.

According to Ssekaana, the URA senior officials should stop sending their juniors because when the Tribunal doesn’t engage the top decision makers, they will continue hearing the same cases with the same mistakes instead of them changing and eventually reducing the backlog.

On her part, the head of Judiciary Training Institute -JTI Lady Justice Damalie Lwanga has said the training is taking place when most of the members of TAT are executing their duties and they know what happens. She said the Tribunal members led by Asa Mugenyi the Chairperson, however are going to acquire skills which should benefit both the tribunal and the people they serve.

Lwanga has asked them to avoid case backlog saying it’s not easy and they should deliver their decisions timely. She says they should avoid issues that can cause bias and make decisions that are defensible such that in the end, both the taxpayer and the collector are treated impartially.

“Avoid instances of bias, always serve with integrity, humility, transparency, diligence, utmost sobriety, be effective in execution of your work, make decisions that can be defended in law and resolve the disputes fairly. Treat both the tax collector and taxpayer as equal litigants,” said Lwanga.

According to Lwanga, TAT is becoming more and more visible and vibrant today in Uganda; but also in the justice system and the existence of the Tribunal as an appeals mechanism saves the parties who are dissatisfied with the decisions of the URA from the lengthy court processes.

She said it also relieves the courts of law of having to hear and adjudicate on disputes that could be resolved through administrative channels.

“As you perform your duties, you must always remember the purpose for which the Tribunal was established. It is a creation of the legislature, intended to resolve disputes through hearing appeals from members of the public who are dissatisfied with the decisions of the URA,” added Lwanga.

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Housing Finance Bank, MUBS partner to empower young graduates

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.

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