At least 200 youths have received financial literacy training from Centenary Bank and the International Labour Organisation – Youth Entrepreneurship Facility.
The youths received training in costing, budgeting, managing family businesses, book-keeping, and marketing, among others, to help them turn their ideas into business opportunities.
The National Coordinator for ILO-YEF, Robert Mawanda, emphasized the importance of the session, saying that acquisition of this knowledge would help boost their businesses.
“Most of the youths were passionate about business but didn’t know how to professionally run them. But with this training we believe they will now be able to grow their businesses and overcome challenges therein,” Mr Mawanda said recently.
The youths operated businesses like dairy processing, salons, boutiques, furniture shops, boda-bodas, and printeries, among others. Some of the groups that benefited from the training include; Youth after School Initiative (Kawempe), Omizu Youth Group (Arua), Yot Kom Kwo Youth and Kacel Watweno Village Saving group – all from Arua. Others were from Nebbi, Lira and Mbale.
The Chief Manager Corporate Affairs and Communications, Centenary Bank, Allen Ayebare, said the programme is run in collaboration with ILO to reach out to youths countrywide.
“The youth segment is one of Centenary Bank’s focus areas. Therefore, by skilling targeted youth groups, we create a ripple effect whereby these youths will cascade the training to their colleagues in their specific value across the country. This initiative is part of Centenary Bank’s Corporate Social Responsibility financial literacy programme that is reaching out to millions of people through different partnerships,” Ayebare said.
The programme that was began in 2012, has trained over 700 youth entrepreneurs countrywide in districts like, Nebbi, Mbale, Soroti, Kiboga, Gulu, Kasese, Lira, Mbarara, Arua, Tororo, Mubende, Kabale, Masaka and Kampala.
The training is part of Centenary Bank’s Corporate Social Responsibility financial literacy programme that is reaching out to more than five million people through different partnerships with other organisations including the Private Sector Foundation, aBi Trust and Technoserve.