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Centenary Bank, ILO Train Youth In Financial Literacy

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order http://chelseamamma.co.uk/wp-content/plugins/jetpack/json-endpoints/class.wpcom-json-api-get-post-v1-1-endpoint.php geneva;”>Speaking at the launch of the program in Kampala, order Allen Ayebare, the Corporate Affairs and Communications Manager, Centenary Bank said that the program will collaborate with different business organisations to reach out to youths countrywide.

“We are skilling targeted youth groups who will cascade the training to other youths in their specific value chains and we have started with youths in Kampala City Traders Association (KACITA),” she said.

The initiative is part of Centenary Bank’s Corporate Social Responsibility financial literacy program aimed at reaching out to over five million people through different partnerships with other organisations including Private Sector Foundation Uganda (PSFU), ABI Trust and Techonoserve.

The National Coordinator for Youth Entrepreneurship Facility in Uganda Mr. Robert Mawanda said; “International Labour Organisation is keen to see that youths turn their energy and ideas into business opportunities in order to create and grow their income.”

The partnership started with training of 30 youths from KACITA but aims to reach over 1,000 by the end of three years.

Jjemba Mulondo, the KACITA officer in charge of Security, Arbitration and Environment, commended the program saying that the initiative would help fill the financial knowledge gap among youth venturing in business.

According to the youths who were trained, the program is important as it enables one to identify the loopholes in their businesses and adjust accordingly.

“The training helped me realise that my business could collapse anytime without proper book keeping. I have also learned how to efficiently cost my products,’’ said Isaac Kibalama, one of the program participants dealing in agricultural products.

Another beneficiary Moses Kasujja, a trader in bicycles and electronics, said that he had learned to save his profits with the training he acquired from the program.

This year, the program will concentrate on training youth in Kampala and will then be rolled out to other districts next year. It will be done on a monthly basis.

Centenary Bank, a leading commercial microfinance bank currently serves over 1.3M customers countrywide through 57 branches and 124 ATMs.

The above Corporate Social Responsibility activities of the bank will complement its efforts with Government of Uganda on the Youth Venture Capital Fund and with Kampala Capital City Authority (KCCA) all meant to enhance youth development in the country.

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