Centenary Bank is supporting an initiative aimed at equipping the youths and providing them a financial literacy in agriculture.
About 450 Youth involved in agricultural enterprises from Bwera, Rukungiri, Wakiso, Kyenjojo, Mpigi, Jinja and Kampala city have received financial literacy training from Centenary Bank and International Labor Organization (ILO).
Centernary Bank is in partnership with ILO and the Consortium for enhancing University Responsiveness to Agribusiness Development Limited (CURAD).
The young entrepreneurs are empowered with financial skills to help them turn their ideas into business opportunities and ultimately generate income.
They are being skilled in costing, record keeping and business planning.
CURAD’s Managing Director, Mr Apollo Ssegawa, said the initiative will boost sustainability of the businesses nurtured at the center.
“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.”
Speaking at the closure of the three day training, Allen Ayebare, Centenary Bank’s Chief Manager- Corporate Affairs and Communications said, the bank partnered with CURAD because it another institution that believes in improving capacity of youth to develop.
“So far, over 400 youths across the country have benefited from the Centenary and ILO financial literacy program since its inception in October 2012,” she said.
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.