Kampala, Uganda – Sunday, July 2, marked a memorable day of fun, colour, and excitement as Housing Finance Bank joined the National Social Security Fund (NSSF) for the highly anticipated NSSF Kampala Hills Run at the Kololo Independence Grounds. The bank’s participation in this renowned charitable event demonstrates its commitment to transforming public schools in Uganda and fostering sustainable development.

The recently concluded NSSF Kampala Hills Run aimed to raise Shs1 billion to refurbish public primary schools, enhance sanitation facilities, and provide digital labs. This 2023 edition was built upon the success of previous runs, where up to 15,000 pupils in the districts of Kampala, Soroti, Kisoro, and Otuke benefitted from renovating 60 classroom blocks and improved sanitation in 13 primary schools. The event showcased remarkable athletic achievements, with Sam Wamuno winning the 21-kilometre race in the men’s category, Latif Kisamba securing victory in the 10 kilometres men’s category, and Doreen Agaba emerging as the women’s champion.

“We have been able to raise about 948 million shillings, 400 million in cash, and the balance in kind. It has been great, considering we had a target of one billion shillings. Close to 8,000 people turned up for this run, which is very encouraging after the Covid break,” said Patrick Ayota, the A.g Managing Director of NSSF.

Housing Finance Bank has been at the forefront of providing comprehensive education support, enabling convenient, affordable, relevant and empowering solutions to all Ugandans. The Bank’s initiative to foster education growth is evident by arange of financial solutions it offers. These include working capital for school owners, bridge financing, incremental loans and vehicle financing to address the pressing infrastructural and financial challenges faced by schools across the country.

Micheal Mugabi, the Managing Director at Housing Finance Bank, emphasized the pivotal role of education in fostering economic success, social progress, and the achievement of Goal 4 of the sustainable development goals. By actively participating in initiatives like the NSSF Kampala Hills Run, the bank reinforces its commitment to continually seeking opportunities to grow and set foundations for future pilots, teachers, engineers, marketers, and bankers. 

“As an indigenous bank, we firmly believe in the transformative power of education in creating a high-skills, knowledge, and innovation-based economy for sustainable development. By participating in initiatives like the NSSF Kampala Hills Run, we demonstrate our commitment to empowering the education sector and shaping a better future for all Ugandans,” said Micheal Mugabi, Managing Director at Housing Finance Bank. 

Housing Finance Bank extends its deepest gratitude to all the individuals, organizations, and runners who joined forces in supporting this noble cause. Their collective efforts will have a lasting impact on enhancing education infrastructure and promoting sustainable development in Uganda.

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Stanbic Bank Uganda, on Tuesday, 4th unveiled the first-ever ‘Report to Society” aimed at creating a sustainable future by investing in initiatives that promote positive Socioeconomic, and Environmental impact.

The report showcases how Stanbic Bank is improving financial inclusion, creating jobs through support to local enterprises, enabling the development of critical public infrastructure, including energy, water, transport, and telecommunications infrastructure.

The report was released under the theme “We believe in Uganda”showcasing Stanbic’s positive impact created through its Corporate Social Investment (CSI) programmes including the National Schools Championship that skills youth, Corporate Society for Safe motherhood in partnership with the Ministry of health, as well as tree planting initiatives aimed at conserving the environment.

Speaking on behalf of the government, the Minister for General Duties in the Office of the Prime Minister, Justine Kasule Lumumba hailed Stanbic Uganda and specifically its anchor subsidiary, Stanbic Bank, for being the first financial institution to publish a sustainability report.

“This is a form of accountability to the community in which you work, and on behalf of the government, I congratulate the leadership of Stanbic on this milestone,” she said.

Lumumba, who is also the Focal Minister for Sustainable Development Goals added that, “your success as members of the private sector is also our as government. For instance, your success in enabling Ugandans to access affordable credit through SACCOs is commendable as it complements the government’s Parish Development Model aimed at having the 39% Ugandans who are still in Subsistence living to join the money economy,” she said.

Andrew Mashanda, the Chief Executive of Stanbic Uganda Holdings Limited, said the Report is a document of accountability to Ugandans and government that the organization is committed to walking the talk of its purpose—Uganda is our home, we drive her growth.

“We don’t want to just drive growth; we want to drive sustainable growth and that is why sustainability is at the center of the SUHL business strategy. We are to grow today while also securing opportunities for future generations,” he said.

Stanbic Bank Chief Executive Anne Juuko asserts that creating value for society is the sure way shareholders will reap from activities of the Bank. It was against this background, Juuko explains that Stanbic Uganda put in place a comprehensive Sustainability strategy in 2022 that currently shapes the business priorities across the organization. “By delivering on our sustainability priorities, we create a meaningful impact in our communities and for stakeholders we serve,” she stated.

Juuko gives examples of areas where the Bank has intervened, citing the Stanbic Economic Enterprise Restart Fund (EERF), an economic recovery programme supporting vulnerable groups including SME’s. “In 2022, we extended UGX20 billion to women-owned SMEs and SACCO’s. Additionally, we have touched over 260,000 members through on-lending and have offered 292 SACCOs/ VSLAs accessible finance.

Additionally, they have used digitalization to improve financial inclusion, providing personnel with the necessary training and technical equipment. Through our women’s proposition Stanbic for Her, loans worth UGX 19.7 bn were disbursed to 1,127 women. The proposition was launched in 2022 and continues to be a thriving portfolio as we address gender parity concerns that are affecting equitable access.”

Cathy Adengo, Stanbic Uganda’s Head of Sustainability said, “Stanbic’s Sustainability strategy aims at creating positive Social, Economic and Environmental impact thereby addressing some of the most pressing concerns in our communities and for our clients.

“By delivering on our sustainability priorities, we create a meaningful impact in our communities and for stakeholders we serve. We remain pivotal to facilitating Uganda’s economic growth and Stanbic Uganda Holdings through Stanbic Bank, lends to a wide range of growth sectors ranging from primary growth sectors including, Agriculture, Infrastructure, Trade, Health Care, Education and Green Business,” she remarked.

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