Stanbic Bank
Stanbic Bank
24 C
Kampala
Stanbic Bank
Stanbic Bank
Home Blog Page 58

UPDF arrests self-declared ‘Major Shaban’ over kidnapping, forgery, and impersonation

By
Our Reporter
-
Maj. Gen. Felix Kulaigye, the Army, Ministry of Defence and Veteran Affairs Spokesperson.

The Uganda People’s Defence Forces (UPDF) has confirmed the arrest of Mr. Mugwanya Shaban, popularly known as “Major Shaban,” following credible allegations of serious criminal activity, including kidnapping, forgery and impersonation of military personnel.

The arrest took place on August 27, 2025, at the Shell Fuel Station in Kyengera, Wakiso District. At the time, Mugwanya was dressed in a green UPDF ceremonial uniform adorned with forged insignia, falsely claiming the rank of Major. A search also recovered a dummy pistol and a forged UPDF identity card bearing the details RO/012032 Maj Shaban Mugwanya.

Speaking on the matter, Major General Felix Kulaigye, Director of Defence Public Information, said, “Mr. Mugwanya has never been a member of the UPDF. His actions, including impersonation of military personnel, undermine the credibility of the Force, endanger public safety, and threaten national security.”

According to preliminary investigations, Mugwanya admitted to masquerading as a UPDF senior officer since February 2024 and engaging in multiple unlawful activities.

Investigators revealed that in August 2025, Mugwanya, alongside accomplices Mpanga Brennan Patrick, Kyamanya Peter, and an individual identified as Capt Ivan, kidnapped Mzee Spelito Mubiru from Luwero District. Mugwanya confessed that the act was allegedly carried out on instructions from Nalwoga Sharon, who paid Shs3,000,000 to Capt Ivan to facilitate the abduction. The victim was unlawfully detained for two days.

Mugwanya reportedly purchased a UPDF ceremonial suit for Shs150,000, Major insignia for Shs60,000, and a forged military ID card for Shs40,000 from a tailor at Kampala’s Cooper Complex. He allegedly used these items to falsely confer military authority on himself.

“He is a habitual imposter who has posed as a Major attached to State House. In collusion with others, he has conducted illegal arrests and managed land-related disputes for financial gain,” Kulaigye added.

The UPDF emphasized that Mugwanya’s fraudulent activities, which started in 2024, were carried out under the false guise of military and State House authority, misleading members of the public and exposing them to considerable risk.

Mugwanya remains in lawful custody and will be presented before competent authorities to answer charges, including unlawful possession of items reserved for the Defence Forces.

The UPDF urged the public to exercise caution when approached by individuals claiming to be security officials and to verify credentials before engagement. Impersonators or suspicious persons should be reported immediately to the nearest police station or UPDF unit.

“The UPDF reaffirms its commitment to upholding the rule of law, maintaining discipline, and protecting the people of Uganda from all forms of criminality,” Kulaigye noted.

Stories Continues after ad

FDC’s Nandala Mafabi welcomed in Buikwe as 2026 presidential campaigns kick off

By
Emmanuel Okello
-
Forum for Democratic Change presidential candidate Nathan Nandala Mafabi is welcomed in Buikwe, where he is due to launch his campaign.

The Forum for Democratic Change (FDC) today, Monday officially launched its 2026 presidential campaigns in Buikwe District, where party flag bearer Nathan Nandala Mafabi was warmly welcomed by jubilant supporters.

Led by Buikwe Woman MP aspirant Lukiya Namwanga, excited crowds gathered at Nsalo Bunyira village, Nkokonjeru Town Council chanting songs of praise and waving party flags. The presidential candidate, accompanied by FDC party president Patrick Oboi Amuriat, was received with gifts from residents, underscoring a strong start to the party’s campaign journey.

Earlier, Mafabi paid a courtesy call to the FDC Buikwe District offices before proceeding to Nkokonjeru Central Zone, where he officially commissioned a new party branch office. Addressing the cheering supporters, Mafabi rallied Ugandans under his unifying message: “One Uganda, One People.”

According to the Electoral Commission’s harmonised programme, Buikwe marks the first stop on Nandala Mafabi’s extensive nationwide campaign trail that will stretch into early 2026. His itinerary for the coming weeks covers more than 40 districts, cutting across central, eastern, northern, and western Uganda.

Below is a breakdown of his campaign trail for September and October 2025:

September 28, 2025 – Buikwe

September 30, 2025 – Bugiri, Luuka, Jinja City

October 1, 2025 – Kamuli, Namutumba, Buyende

October 2, 2025 – Jinja City, Iganga, Kikuube

October 3, 2025 – Kamuli, Hoima, Kyenjojo

October 4, 2025 – Kasese, Buyende, Fort Portal City

October 5, 2025 – Kole, Lira, Lira City

October 6, 2025 – Kyenjojo, Butaleja, Bukwo, Kasese

October 7, 2025 – Kibuku, Tororo, Bushenyi

October 9, 2025 – Amolatar, Namayingo, Sheema

October 10, 2025 – Alebtong, Pallisa, Ntungamo

October 11, 2025 – Lira City, Lira District, Budaka

October 12, 2025 – Obongi, Rwampara, Butebo, Kalangala

October 13, 2025 – Masaka, Bukwo, Lwengo, Kapchorwa, Namutumba, Moroto

October 14, 2025 – Bukomansimbi, Bulambuli, Masaka City

October 15, 2025 – Kalungu, Butaleja, Abim, Bukomansimbi

October 16, 2025 – Mpigi, Busia, Mbale City, Kalungu

October 17, 2025 – Kiboga, Namayingo, Bududa, Mbale City, Mpigi, Lwengo, Kassanda, Bugiri, Mbale

October 18, 2025 – Bulambuli

October 19, 2025 – Nakapiripirit, Bududa, Kyotera

October 20, 2025 – Kakumiiro, Kotido, Rakai

October 21, 2025 – Serere, Makindye, Mukono

October 22, 2025 – Kumi, Rubaga, Amuria, Buikwe

October 23, 2025 – Bududa, Kawempe, Kaberamaido, Kayunga

October 24, 2025 – Mbale, Soroti, Jinja City

October 25, 2025 – Alebtong, Ntoroko, Omoro, Kabale, Tororo, Busia

October 26, 2025 – Lira, Bunyangabu, Amuria, Ibanda, Mayuge

October 27, 2025 – Alebtong, Ntoroko, Omoro, Kabale, Tororo, Busia

October 28, 2025 – Buikwe, Rukungiri, Busia, Tororo

October 29, 2025 – Kanungu, Tororo, Bududa

October 30, 2025 – Kisoro, Sironko

October 31, 2025 – Nansana, Kitgum, Makindye, Bukedea

The launch in Buikwe coincides with the unveiling of the NRM manifesto by incumbent President Yoweri Kaguta Museveni in Munyonyo, while National Unity Platform (NUP) leader Robert Kyagulanyi Ssentamu, also known as Bobi Wine, is expected to begin his campaign in Jinja.

With campaigns now underway, the political season will run until February 2026. For the FDC, today’s energetic launch in Buikwe shows a determined push to mobilize across the country, with Mafabi positioning himself as a candidate of unity, reform, and national renewal.

Stories Continues after ad

Museveni to unveil NRM 2026–2031 manifesto at Speke Resort Convention Centre, Munyonyo

By
Simon Kabayo
-
President Yoweri Museveni and First Lady Janet Museveni.

President Yoweri Kaguta Museveni is set to officially launch the National Resistance Movement (NRM) manifesto for the 2026–2031 term today at the Speke Resort Convention Centre in Munyonyo.

The document, commonly referred to within the party as the “Kisanja” programme, outlines the government’s achievements over the past years while charting the strategic direction for the next five. Party insiders say it will emphasise industrialisation, job creation, agricultural modernisation, and the consolidation of peace and security across the country.

Other critical commitments expected in the manifesto include infrastructure expansion, growth of the oil and gas industry, advancement in digital transformation, and increased participation in regional and international trade.

NRM Secretary General Richard Todwong will preside over today’s proceedings, joined by the party’s first national vice chairman, before President Museveni takes to the podium at 4:00 p.m. to unveil the manifesto. The event is expected to draw senior party leaders, dignitaries, and guests, with prayers, anthems, and cultural entertainment setting the stage.

The launch coincides with the beginning of Museveni’s campaign trail. According to the Electoral Commission’s harmonised programme, the President will start canvassing for support in Munyonyo and Makindye before proceeding to Luweero on September 30—a district with deep historical significance as the cradle of the 1981–86 liberation struggle that ushered him into power.

From there, his itinerary takes him to Amolatar and Dokolo on October 1, Alebtong and Otuke on October 2, Apac, Kwania, and Ntoroko on October 3, and then to Bunyangabu and Kasese on October 4. The tour will later extend to Kole, Lira, and Lira City on October 5.

The route reflects a deliberate strategy: invoking symbolism in Central Uganda while reinforcing support bases in the north and west, areas where the NRM has traditionally enjoyed strong backing.

At 81, Museveni is bidding for yet another term in office, framing his candidacy around themes of continuity, stability, and the safeguarding of national progress.

Meanwhile, his principal challenger, National Unity Platform (NUP) leader Robert Kyagulanyi Ssentamu, popularly known as Bobi Wine, is expected to launch his campaign in Jinja later today. His entry in the eastern region showcases efforts to expand beyond Buganda, where his party recorded sweeping victories in 2021.

The 2026 presidential race is notable for being the first in two decades without a female contender. It is shaping up as a contest between Museveni’s message of legacy and stability and the opposition’s calls for change, transparency, and generational leadership. Campaigns will continue until February 2026.

Stories Continues after ad

Uganda’s coffee surges to $2.24b as Tokyo market opens doors

By
Our Reporter
-
Coffee beans are displayed to dry.

Uganda’s coffee industry is enjoying a moment of triumph on the global stage, debuting strongly at the Specialty Coffee Association of Japan (SCAJ) World Specialty Coffee Conference & Exhibition, Asia’s largest coffee showcase.

The exhibition comes on a record-breaking year in which Uganda’s coffee export earnings surged to $2.24 billion, according to the Ministry of Agriculture, Animal Industry and Fisheries (MAAIF). The milestone marks a 58.7 percent jump from the previous year, cementing coffee’s position as the country’s leading foreign exchange earner.

In the 12 months to August 2025, Uganda shipped out 7.93 million 60-kilogram bags, with both robusta and arabica beans making waves in global markets.

At the Tokyo Big Sight convention centre, Uganda’s pavilion, boldly branded “Uganda: The Pearl of Africa,” is positioning the country as a reliable supplier for Japan’s demanding specialty market. The stand features live cuppings, sustainability showcases, and direct engagement between Japanese roasters and Ugandan exporters.

“Japan values quality, traceability, sustainability, and authenticity,” noted Uganda’s Ambassador to Japan, Tophace Kaahwa. “Uganda offers all these attributes, alongside volumes that can sustain long-term partnerships.”

Analysts attribute the record earnings to both strong harvests and rising international prices, particularly for Uganda’s premium arabica beans grown in high-altitude regions like Mt. Elgon. In August alone, arabica exports surged nearly 64 percent in value compared to the previous year, with some top lots fetching as high as $9.42 per kilogram.

“The story of Uganda’s coffee is not just about trade figures,” said Gordon Katwirenabo, Assistant Commissioner for Quality Assurance and Value Addition at MAAIF. “It is about transformation. From smallholder farmers to globally recognized exporters, Uganda is showing the world that scale, quality, and sustainability can go together.”

For Uganda’s exporters, the Tokyo showcase is more than a promotional event; it’s a business hub. Contracts are being negotiated on site, with government officials confident that partnerships struck in Tokyo will translate into long-term gains for farmers back home.

“Our exports are at record highs and this is only the beginning,” Katwirenabo added.

With Japan identified as a priority growth market, Uganda’s coffee sector is looking to build on its historic export performance and carve out a permanent place among the world’s most trusted coffee origins.

Stories Continues after ad

Museveni reveals shocking truth about Eddy Kenzo’s father

By
Our Reporter
-
President Museveni chatting with musician Eddy Kenzo and his wife, Phiona Nyamutooro.

In a surprising revelation, President Yoweri Kaguta Museveni disclosed that renowned Ugandan musician and president of the Uganda National Musicians Federation (UNMF), Eddy Kenzo, is the son of the late Eriya Mwine, popularly known as Chefe Ali.

The late Chefe Ali was a member of the National Resistance Army (NRA).

The announcement came during an event held on Saturday at Speke Resort Munyonyo, where Museveni was the chief guest at the launch of the Yoweri music album, a project organized by Kenzo under the UNMF.

While praising Kenzo for his integrity and leadership in the music industry, President Museveni noted that he is very happy with ” Sitya loss” hit maker,s honest.

“I am very happy with the honesty of Eddy Kenzo because the money we gave him, he used it. ”Museveni noted.

He then dropped the unexpected news the singer’s alleged biological father.

“Eddy Kenzo is the son of a soldier,” Museveni said, turning to Kenzo. “Did you tell them, or did you want to keep it a secret? Where are the other children of Chief Ali? Stand up. Even though they look alike.”Museveni stated.

The revelation caused a stir in the audience, with many surprised to learn of Kenzo’s previously undisclosed family background.

Late Chefe Ali
For years, the artist born Edrisah Musuuza has shared his story of growing up in hardship, losing his mother at a young age, living on the streets, and struggling before finding a path through music. Until now, little was known publicly about his father.

Chefe Ali (Eriya Mwine), a prominent figure in Uganda’s military history, served as Chief of Defence Forces from 1996 to 1998. He was one of the historic fighters in the NRA bush war and led the UPDF during a critical period in Uganda’s security landscape.

Museveni’s revelation has now brought Chief Ali’s name back into the national spotlight this time through the legacy of his son, one of Uganda’s most celebrated music stars.

Late Chefe Ali.

The news quickly spread on social media, sparking widespread discussion. While some fans expressed shock, others saw it as a powerful connection between Uganda’s military past and cultural present.

“We’ve always admired Kenzo for surviving the streets. Now we know he also carries a soldier’s blood,” one attendee at the Munyonyo event whispered after Museveni’s speech. Eddy Kenzo has long been celebrated as a symbol of perseverance rising from the streets to become an international music icon, winning a BET Award and earning Uganda’s first-ever Grammy nomination. Museveni’s comments now add a new dimension to his story, not only a tale of struggle and triumph, but also one rooted in national history.

As of now, Kenzo and his management have not publicly responded to the President’s remarks. However, Museveni’s statement has undoubtedly opened a new chapter in the narrative of one of Uganda’s most influential artists.

We will continue to follow this story and update you as more details emerge.

Stories Continues after ad

Irene Ntale, Vicent Kalibbala set for Rubaga wedding on October 17

By
Our Reporter
-

Celebrity Ugandan singer and former Swangz Avenue star, Irene Ntale, is officially headed down the aisle with fiancé Vincent Kalibala.


The couple has announced that their wedding will take place on October 17, 2025, although the venue remains undisclosed for now. The news has sparked an outpouring of excitement and congratulations from fans and well-wishers, who have flooded the comments with messages of love and support for the couple.

While Ntale has yet to reveal full details of the upcoming celebration, more updates are expected as the big day approaches, and we’ll keep you informed as they come in

Stories Continues after ad

NUP unveils offices in Mbarara

By
Our Reporter
-
Musician turned politician Robert Kyagulanyi, aka Bobi Wine, during the opening of the Mbarara City offices.

The National Unity Platform (NUP) has unveiled its Western Uganda Headquarters, which the party built in Mbarara City.

According to the Party’s Secretary General David Lewis Rubongoya, construction of the offices was kept a secret to avoid any possible disruptions by the government.

Rubongoya noted that the party purchased the land located right next to Independence Park Grounds over a year ago, and construction started in earnest.

“We’re glad that information about this place was kept under wraps for over a year and so we were able to avoid the usual sabotage by the regime. Grateful to our leader Bobi Wine and the leaders with whom we work, for it takes discipline and sacrifice!” he said.

NUP Presidential flag bearer Robert Kyagulanyi Sentamu, aka Bobi Wine who officiated at the opening noted that the headquarters strategic location is aimed at strengthening NUP activities in the region.

“We built this headquarters without anyone knowing and opened it without anyone knowing, and that is how we shall unseat (President) Museveni without anyone knowing, we don’t want to remove him by force because we are peaceful people” he said.

Kyagulanyi noted that the party’s regional operations will be coordinated from the newly opened headquarters.

During the opening, Kyagulanyi dedicated the headquarters to late (NUP) deputy president for Western Uganda, Jolly Kyomugasho Mugisha who passed on on Monday at Mbarara Hospital.

The leader of the Opposition in Parliament and the party spokesperson, Joel Ssenyonyi noted that the headquarters will be the party’s command center for all the activities and offices in the wider western Uganda.

According to observers, the decision to keep the project underground reflects the opposition party’s increasing caution in dealing with state surveillance and alleged attempts to curtail its political activities.

Recently, the party unveiled its Eastern Uganda Headquarters in Iganga Town to support party activities in Eastern Uganda, surprising both its supporters and security agencies.
The National Unity Platform (NUP) has today unveiled its Western Uganda Headquarters, which it has secretly built for a year in the heart of Mbarara City.

According to the Party’s Secretary General David Lewis Rubongoya, construction of the offices was kept a secret to avoid any possible disruptions by the government.

Rubongoya noted that the party purchased the land located right next to Independence Park Grounds over a year ago and construction started in earnest.

“We’re glad that information about this place was kept under wraps for over a year, and so we were able to avoid the usual sabotage by the regime. Grateful to our leader Bobi Wine and the leaders with whom we work, for it takes discipline and sacrifice!” he said.

NUP Presidential flag bearer Robert Kyagulanyi Sentamu, also known as Bobi Wine, who officiated at the opening, noted that the headquarters’ strategic location is aimed at strengthening NUP activities in the region.

“We built this headquarters without anyone knowing and opened it without anyone knowing, and that is how we shall unseat (President) Museveni without anyone knowing, we don’t want to remove him by force because we are peaceful people,” he said.

Bobi Wine noted that the party’s regional operations will be coordinated from the newly opened headquarters.

Stories Continues after ad

Masindi High Court sentences late Dr Jino Abiriga’s widow, two others to 33 years in prison

By
Our Reporter
-
The suspects appeared before the Masindi High Court.

MASINDI-The Masindi High Court has sentenced the late Dr Jino Abiriga’s widow, 31-year-old Betty Cherotich, and her two accomplices, Martin Kipsang and Joshua Namurenge, to 33 years each in prison for murdering the former Masindi District Acting Health Officer.

The trio were sentenced on Tuesday after they pleaded guilty to the murder charges on September 11, 2025, before the Masindi Resident Judge, Lady Justice Mary Babirye.

During hearing, state attorney Ms Charlotte Nanziri told Court that when Cherotich learnt about the late Abiriga’s affair with Susan Atuhuura in December last year, she started contemplating about killing her husband.

Cherotich, on December 23, 2023, rang Kipsang with the plan to kill the deceased as they negotiated on payment of Shs2.5 million to carry out the said murder.

On January 5, 2024, Namurenge and Kipsang travelled from Bukwo district to Masindi to execute their mission.

Ms Nanziri further told court that Kipsang and Namurenge stayed at Valentines Guest House waiting for signal through text messages from Cherotich to go and attack the deceased from his home.

The late Dr Jino Abiriga
Afterwards, the duo went to a nearby hardware shop and bought two hoe handles to be used to assault the deceased.

On the night of the murder, January 6, 2024, Namurenge and Kipsang, who were still at Valentine’s Guest House, got a text message from Cherotich, and they went to the home of the deceased.

Lady Justice Mary Babirye narrated that telephone printouts showing the various communications were extracted.

Cherotich opened the gate giving Namurenge and Kipsang access to the home where they were led to the bedroom where the deceased was sleeping.

Kipsang hit the deceased on the head with the hoe handle and the three dragged the deceased to the floor where they slit his throat open with a knife, killing him instantly.

The trio cleaned the dead body, dressed it in a red T-shirt and blue trousers, before they carried it on a small ladder and dumped it 50 metres away from his house under a mango tree.

Dr Abiriga’s body was recovered by neighbours the following day on December 7, 2024.

After accomplishing their mission, Kipsang and Namureng returned to Valentine Guest House, where they dumped the blood-stained clothes in a pit latrine and left Masindi at around 5 am.

Later, the duo was tracked down, and arrested in Bukwo district from where they were transferred to Masindi for legal action.

The three convicts, when given an opportunity to speak during their conviction, asked for forgiveness before the court with the widow, Cherotich telling court that she is now a widow who has to look after the former couple’s children.

Cherotich further noted that she contracted the two men to murder her late husband out of rage after learning that he had a girlfriend in Masindi.

The two men 31 31-year-old Kipsang, a carpenter from Ruruk village, and 36-year-old Namureng, a builder from Tarobya village in Bukwo district, also asked for forgiveness, noting that they were first-time offenders.

While sentencing the trio, Justice Babirye noted that the late Dr Abiriga was a respected person of high integrity, and provided essential services to the people whose murderers should not go unforgiven.

“The maximum sentence in this case would be 35 years, but considering other aggravated factors, it goes up to 45 years. However, after considering that the three pleaded guilty and were remorseful, I now reduce the sentence to 33 years, three months, and 23 days each with effect from today, September 23, 2025,” she said.

Justice Babirye further noted that the trio had a right to appeal their sentence within 30 days in if they were not satisfied with the court’s ruling.”

Stories Continues after ad

Entebbe Magistrate’s Court issues criminal summons against land broker Mohammad Kamoga over forgery charges

By
Our Reporter
-
Mr. Kamoga (standing).

The Entebbe Magistrate’s Court has issued criminal summons against land broker Mohammad Kamoga, who is facing charges of forgery.

The summons, signed by Grade One Magistrate Edgar Tusiime, requires Kamoga to appear in court on Monday, September 29, 2025, for plea-taking.

Kamoga is accused of forging the practicing certificate, signature, and official stamp of lawyer Lorna Nkamwesiga in order to fraudulently acquire 200 acres of land in Garuga, Entebbe.

His ongoing legal troubles have continued to attract public attention, especially given his controversial reputation within Uganda’s real estate sector. The new charges against him include obtaining land registration through false pretenses and uttering forged documents.

Recently, the hearing of the criminal case against the land broker failed to take off after Kamoga, through his lawyers led by Mr Brian Tindyebwa, told court that his client was not present in court as required because he was admitted over heart related illnesses.

Mr Tindyebwa presented medical documents saying that Kamoga sent them through his sureties, Tony Walugembe.

However, complainants who attended court were left shocked after Kamoga’s Lawyer mentioned Katabi Town Council Mayor Ronald Kalema as his second surety in his hospital admission at Nakasero Hospital case.

The trial Magistrates Court at Entebbe directed the state to verify the ill-health claims by the broker, Kamoga, after he failed to appear in court regarding the ongoing case related to fraud of land.

“The state shall verify the information provided to court and thereafter court shall be at liberty to take action,” held Magistrate Edgar Tusiime Tibeyita before adjourning the case to September 29, 2025.

The court decision followed submissions in which the State Attorney Paul Byamukama Aheebwa vehemently objected to the long adjournment asked by Kamoga through his lawyers, who reported to court that he is unwell and admitted Nakasero Hospital.

Stories Continues after ad

Banking on a Greener Future with Green Finance Solutions for SMEs

By
Guest Writer
-
Ms Virginia Ssemakula, Equity Bank Manager of Energy, Environment, and Climate Change Pillar.

Climate change is one of the significant crises facing the world today and developing nations such as Uganda face a critical challenge in combating related effects despite its relatively low contribution to global greenhouse gas (GHG) emissions. Recent reports indicate that Uganda faces potential annual economic losses due to climate change impacts, with a 2015 study suggesting costs between US$3.1 billion and US$5.9 billion annually if no adaptation measures are taken, or up to 6% of its GDP in the long term if global warming is not reduced to 2°C. More recently, a report of 2024 by the Auditor General indicates a projection of Shs12 trillion (approx. US$3.2 billion) in potential losses from natural disasters, including building and transport infrastructure damage, by the year. 

This trend is projected to worsen, potentially costing Ugandans even more if proactive measures are not implemented. While there is no specific monetary figure for Uganda’s climate change losses over the next 15 years available, it’s clear that the country faces significant impacts, including severe economic losses, widespread environmental degradation, food insecurity, and social displacement due to events like extreme droughts, floods, and crop failures, which have already affected thousands of people and damaged livelihoods.

While national initiatives like tree planting are commendable, a more comprehensive and innovative approach is essential, particularly from institutions of higher learning and the financial sector.

During the launch of the second phase of the Uganda Green Enterprise Finance Accelerator program on Thursday September 18th at Protea Hotel in Kampala, supported by the EU Delegation to Uganda and Equity Bank as the implementing finance partner,  experts emphasized that Uganda and Africa possess the capacity to lead the world in developing innovative solutions to reverse the adverse effects of climate change, especially given their disproportionate impact. They stressed that prioritizing collaborations and leveraging the capabilities of financial institutions is crucial.

Equity Bank is actively addressing this challenge, demonstrating its commitment to environmental sustainability through a range of green finance products designed to empower individuals, SMEs, and large corporations to adopt eco-friendly practices.

What is Green Finance?

Green finance encompasses financial investments directed towards nature and biodiversity initiatives as well as climate-related adaptation and mitigation solutions. Climate mitigation solutions include projects such as renewable energy, energy efficiency, sustainable waste management while adaptation solutions include initiatives such as water management practices, climate smart farm practices and post-harvest loss management.

 Green Finance Products: A Catalyst for Change

Equity Bank offers a variety of tailored financial solutions to different market segments:

For Individuals: Equity provides financing options for individuals seeking to invest in solar energy systems for their homes, purchase of energy-efficient appliances and adoption of sustainable agricultural practice. These products not only reduce their carbon footprint but also lower resource use while leading to better health outcomes.

For SMEs: The backbone of the Uganda’s economy, can access green financing from Equity to invest in energy-efficient equipment, low-emitting technologies, adopt cleaner production processes, and implement circular economy solutions. This support helps them reduce their environmental impact, improve operational and economic efficiency with the added benefit of enhanced market competitiveness.

For Large Corporations: Equity supports in the transition to a low-carbon economy by providing financing for renewable energy projects, green buildings and circular economy financing. This enables them to meet their environmental targets, attract socially responsible investors, and enhance their brand reputation.

Benefits of Equity Bank’s Green Finance Products include:

Environmental Sustainability: By investing in green projects, individuals and businesses can reduce carbon emissions, conserve natural resources, and protect the environment for future generations.

Cost Savings: Energy-efficient technologies and sustainable practices can lead to significant long-term cost savings by reducing energy bills, improving resource efficiency, and minimizing waste.

Economic Growth: Green finance stimulates economic growth by creating new jobs in the renewable energy sector, promoting innovation in sustainable technologies, and attracting foreign investment in green projects.

Enhanced Competitiveness: Businesses that adopt sustainable practices enhance their brand reputation, attract environmentally conscious customers and investors, and gain a competitive edge in the market.

Equity Bank’s green finance products exemplify the potential of the financial sector to drive sustainable development.

Equity’s commitment to green finance is a significant step towards building a sustainable future for Uganda. By providing tailored financial solutions to individuals, SMEs, and large corporations, the bank empowers them to adopt eco-friendly practices and contribute to a greener economy. It is time for all stakeholders to unite and embrace green finance as a catalyst for change.

Institutions of higher learning, government agencies, and the private sector must collaborate to promote green finance and empower individuals and businesses to adopt sustainable practices. By investing in a greener future, Uganda can mitigate the risks of climate change, unlock new economic opportunities, and build a more resilient and prosperous nation.

For more information on Equity Bank’s green finance products, please visit their official website: https://equitygroupfoundation.com/green-initiatives/ or contact their customer service at 0800 232700.

By Virginia Ssemakula, Pillar Head Energy, Environment and Climate Change, Equity Bank

Stories Continues after ad
1...575859...2,374Page 58 of 2,374

© Eagle Online. All rights reserved.

About Us

Popular Category

Editor Picks