In a move that underscores its commitment to driving socio-economic transformation, Stanbic Bank Uganda today rolled out its strategic financial literacy campaign, starting with a high-impact session in Mbarara.
The initiative, part of the bank’s “Love Month” activities under Customer Service Month, directly aligns with the bank’s Women, Youth, and Farmers (WYF) Growth Agenda, a formidable commitment to unlock UGX1 trillion in financing and support for Uganda’s most critical demographics over the next three years.
The Financial Fitness Breakfast, held at the Las Vegas Hotel, brought together key business influencers to engage in robust discussions on wealth creation, disciplined saving, and shrewd investment habits.
The session, led by Stanbic Bank’s Brand and Marketing Manager, Diana Kahunde, provided participants with practical financial skills designed to translate financial knowledge into tangible personal and business growth.
Embedding Financial Literacy in the National Fabric
The decision to launch this leg of the financial literacy drive in a major regional hub like Mbarara reflects Stanbic Bank’s recognition that national economic growth must be inclusive and decentralised.
According to Kahunde, the “bank is systematically taking its expertise beyond the capital city to empower local entrepreneurs and professionals, the very individuals who form the backbone of Uganda’s regional economies.”
This multi-regional roadshow is a key component of the bank’s broader Corporate Social Investment (CSI) strategy, which focuses on three pivotal pillars: Education, Health, and Environment.
By focusing on financial education, Stanbic Bank is directly addressing a national challenge.
Studies indicate that a significant portion of the Ugandan population lacks comprehensive financial knowledge, which hinders effective saving and investment, a major constraint to the country’s economic acceleration.
WYF Agenda as Stanbic’s Engine for National Development
As reiterated by the Chief Executive Officer, Mr. Kenneth Mumba Kalifungwa recently, the core of Stanbic Bank’s current strategy is the Women, Youth, and Farmers (WYF) Agenda.
According to Mr. Kalifungwa, this is not merely a corporate initiative; it is a direct alignment with the National Financial Inclusion Strategy (NFIS), which targets achieving at least 85% financial inclusion by 2028.
Women
The bank is actively supporting women-led enterprises through initiatives like Stanbic4Her, Stanbic Business Incubator, and the GROW Project, providing affordable credit and specialised business training.
Youth
By focusing on financial fitness, the bank is nurturing the next generation of economically active citizens. The Mbarara session builds on other youth-focused programs like the Stanbic National Schools Championship and vocational training scholarships, all aimed at tackling youth unemployment and fostering entrepreneurship.
Farmers
The agenda aims to enhance commercial agriculture, which is vital for the monetisation of Uganda’s economy and the success of government programs like the Parish Development Model (PDM).
The overall goal of deploying UGX 1 Trillion towards the WYF agenda is to ensure that Stanbic Bank’s commercial success is mirrored by the prosperity of its customers and communities.
By imparting skills in saving and investment, these financial fitness sessions are cultivating the discipline required for Ugandans to absorb and effectively utilise this capital infusion.
A Commitment to Shared Growth
While the Mbarara event was celebrated under the banner of “Love Month” and Customer Service Month, its impact is long-term and strategic. It signals a shift in the bank’s customer engagement model, moving from transactional banking to a relationship based on shared prosperity.
The planned extension of these financial fitness sessions to other regions across the country throughout the month solidifies the commitment to a grassroots-level transformation.
Like Kahunde rightly pointed out, Stanbic Bank is essentially providing the educational tools that enable Ugandans to become financially literate, prudent custodians of wealth, and active participants in the formal economy, truly embodying the bank’s central purpose: “Uganda is our home, we drive her growth.”