Through the Standard Chartered Foundation, the Standard Chartered Bank in Uganda has unveiled a Shs 750 million cash program to support and encourage 600 youths in agribusiness as part of the ‘Futuremakers By Standard Chartered’ Initiative.
The programme was unveiled at the Kampala Serena hotel by the Minister of Agriculture, Animal, Industry and Fisheries, Vincent Ssempijja, and it is expected that it will be implemented by the Bank’s NGO partners; ICCO Cooperation and Youth Business International.
The function of the cash boost is targeted at supporting micro, small and medium agri-businesses in the Northern Uganda districts of Lira and Nebbi which have had to fight the negative impact of the economic downturn caused by the coronavirus (COVID-19) pandemic. Commenting on the Bank’s efforts, the Minister said:
“It is commendable that you are supporting and empowering disadvantaged youth in agri-business so they can be empowered as change agents, employers and skilled entrepreneurs who will transfer the skills learnt. I appeal to the beneficiaries to put the skills and recovery cash grants they will receive to good use. Be good stewards and ensure your impact in your districts is far-reaching and is felt for the good of the entire community and our country”.
Through this Project, the re-establishment of 600 young entrepreneurs in Nebbi and Lira districts in Uganda is targeted. The selected entrepreneurs will feature those whose businesses were hard-hit by the COVID-19, with the assurance that a diverse range of young entrepreneurs will continue to contribute towards a richer, more varied and more resilient economy for the country to grow.