Business

Centenary Bank Boosts Youth Entrepreneurship

viagra buy http://celltrials.info/wp-content/themes/thesis_186/lib/functions/comments.php geneva; font-size: small; line-height: 200%;”>CURAD is one of the six agribusiness incubators in Africa and is aimed at producing innovative young entrepreneurs and agribusiness leaders to champion productivity and profitability of the agricultural enterprises in the country.


According to Apollo Ssegawa, the Managing Director of CURAD, the initiative will boost sustainability of the businesses nurtured at the centre.


“As new entrepreneurs, the youths must know how to handle money as well as keep records if they are to stay in business. This partnership will help us reach our goal of promoting successful agribusiness enterprises in the country.”


A total of 29 youths from the centre were skilled in costing, record keeping and business planning.


The initiative is part of Centenary Bank’s CenteBusinessLife financial literacy programme in partnership with ILO-Youth Entrepreneurship Facility, where young entrepreneurs are empowered with financial skills to help them turn their ideas into business opportunities and ultimately generate income.


According to Allen Ayebare, Centenary Bank’s Chief Manager Corporate Affairs and Communications, “the youth segment is core to Centenary Bank as they are our nation’s future”.


“We recently partnered with several institutions to support youth entrepreneurs grow and these include; Government of Uganda, Kampala Capital City Authority (KCCA), International Labour Organisation (ILO) and Junior Achievement Uganda.”


Accordingly, Shs 66.5m has been earmarked for the project this year with the aim of reaching over 450 youths.


The trainings will be carried out in Bwera, Rukungiri, Wakiso, Kyenjojo, Mpigi, Jinja and parts of Kampala.


Over 400 youths across the country have benefited from the programme since its inception in October 2012.


The National Coordinator for ILO – Youth Entrepreneurship Facility in Uganda, Mr. Robert Mawanda, confirmed that positive changes had been registered through the partnership in terms of businesses started and expansion of existing business.


“According to our recent impact survey, 49% of the youths trained have started new businesses and an average of 2.4 additional jobs has been created,” he said.


The bank has also partnered with Private Sector Foundation Uganda (PSFU) and AgriBusiness Initiative Trust (ABI Trust) in the past to empower Small and Medium enterprises (SMEs) with financial skills and Techno Serve to train women.


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