In bid to accelerate economic growth and financial breakthroughs among the men in uniform, Stanbic Bank Uganda Limited has launched a financial literacy program for the Uganda Prisons Service fraternity.
This life-changing campaign was initiated following a recent discussion between the Stanbic Bank CEO Anne Jjuuko and the Commissioner General of Uganda Prisons Service Johnson Byabashaijja.
The head of Private and Personal Banking Israel Arinaitwe, who represented Jjuuko, said the initiative’s agenda aligns within the bank’s purpose which is ‘Uganda is our home, we drive her growth’ that is aimed towards transforming and helping Ugandans live a better life so that the current and coming generations do not suffer.
“As a bank, we made a commitment to the commissioner general of providing free financial literacy training to all staff of Uganda Prisons and their spouses across the country. This includes all five regions of Uganda and the 49 prisons,” Arinaitwe said, adding that the program aims to benefit a total of 52,416 officers and their families.
He said the importance of financial fitness is the management of lives since it makes people do a lot in order to acquire it. Ali Lwanga, the Stanbic Bank Kampala Metropolitan area regional manager, said that through conversations with the Prisons leadership, a number of issues were identified several financial challenges, including managing multiple loans, dealing with financial burdens from extended families, coping with financial struggles arising from redundant families and children, limited access to proper medical care and coping with a small government salary, among others.
“Through the series of financial literacy clinics we plan to conduct, we are driven to address these financial pain points, provide practical solutions and guidance that will empower the prisons fraternity to overcome these challenges.” Lwanga said.
The bank also pledged to provide a special and swift financial partnership waiver like subsidizing interest rates on different products for all the prisons officers countrywide.
Stella Nabulya, the commissioner of Prisons in Kampala Extra Region, hailed the bank for rendering Uganda Prison Service an opportunity that is not only to learn and acquire new skills but a chance to transform lives for the better.