Kedrace Turyagyenda (C) the Permanent Secretary Ministry of Education and Sports pose for a group photo with Stanbic Bank officials led by Kenneth Mumba Kalifungwa, Sam Fredrick Mwogeza, and Cathy Adengo
Stanbic Bank Uganda has launched the 10th National Schools Championship in a move that will see the competition surpass the Shs7Bn investment mark since its inception 10 years ago.
While addressing guests at the launch event held at Kampala Serena Hotel on Monday, Kenneth Mumba Kalifungwa, the Chief Executive at Stanbic Bank Uganda noted that the National Schools Championship is more than just a competition, but rather a platform designed to introduce young people to the world of entrepreneurship while still in school in order to transform them from mere job seekers into future job creators.
“I see a lot of young minds in here, I see a lot of aspiration, I see a lot of desire to create wealth at a personal level and a national level. It is this spirit of entrepreneurship that has inspired the creation of the Stanbic National Schools Entrepreneurship Championship. Over the last 10 years we have made remarkable strides together and we should feel proud of ourselves,” said Mumba.
He says the competition kicked off with 32 participating schools, but has now grown into over 200 secondary schools representing more than 50 districts across Uganda.
“This year alone we received about 540 school applications with 150 schools and 300 learners to advance to our boot camp. We have positively impacted the lives of over 540,000 learners, teachers and community members through our initiative, transforming the landscape of entrepreneurship and education in our country. Our commitment is underscored by an impressive investment of over Shs7Bn since the championship began 10 years ago,” Mumba explained.
Cathy Adengo, Head of Sustainability at Stanbic Bank noted that the National Schools Championship anchors the Bank’s sustainability strategy’s mission to support youth empowerment and education, as these account for over 80% of Uganda’s population.
“As the largest bank in the country we cannot ignore our duty, it is our duty and it is our responsibility to ensure that we’re creating interventions that are supporting youth and that are supporting youth empowerment,” she noted.
Kedrace Turyagyenda, he Permanent Secretary at the Ministry of Education and Sports, said the Ministry is set to collaborate with Stanbic Bank Uganda to boost Technical and Vocational Education and Training (TVET).
According to Turyagyenda, the collaboration will be more of a benchmarking relationship, where the ministry will learn from the bank’s success in sustaining an innovative program for the past decade. “Recently, our Amended TVET Act was passed, and the president signed it. It was gazetted, and on Saturday, March 15, it commenced,” she said. “So, we are going to work together because you have been engaged in this for years, and I am sure we can join hands as we review the TVET programs at various levels skills level, craft levels, and technical levels to determine what needs to be included,” she said.
She emphasized that the new TVET Act is intended to drive revolutionary thinking about skills development, making Stanbic Bank a critical partner due to its extensive experience.
Onesmus Kansiime, Senior Officer, Knowledge Management · Office of the Prime Minister – National Sustainable Development Goals (SDG) Secretariat stated that National Schools Championship aligns with several SDG like ending poverty, improve food security, spur innovations and improving health within Uganda.
“When you look at goal number one, these innovations inevitably are going to solve the poverty problem. When you look at goal number two, on food security, ensuring that we end hunger, these innovations are going to give us solutions. When you look at good health and well-being, goal number three, we are going to have these solutions put an end to maternal mortality, in fact, mortality, and making sure that we have a robust disease control ecosystem, and many others, going to energy, to the supply of water, and also ensuring that there is good life below the waters and on the land,” Kansiime.
Kansiime further added that the championship will contribute to the implementation of Uganda’s digital transformation roadmap for the year 2023-2027 which he said would be attained through the provision of opportunities to innovators, including young people and the students, to move their ideas to the market.
He stated, “Because for long, that has been a very big problem. We have also recommended that we need to exercise patience until these prototypes have been qualified as possible business cases. We also need to provide a supportive ecosystem for science, technology, and innovations that thrive and innovators feel encouraged to keep trying and expand the STI hubs and strengthen collaboration between institutions of learning and the innovators.”
According to Stanbic Bank, each year the championship generates around 600 innovative business ideas resulting into over 200 new businesses launched across various sectors such as manufacturing, renewable energy, food and beverages and agriculture.
To mark the 10-year milestone, this year’s winners will be awarded an exposure opportunity to go and spend a couple of days in South Africa, the home of Stanbic headquarters, while Shs100M has been set aside in prize monies and there are plans to take the competition at regional level.
