Private sector firms join Water ministry to plant trees
The Ministry of Water and Environment in partnership with private sector stakeholders including Uganda Breweries Limited , Stanbic Bank Uganda , TotalEnergies Uganda , ATC Uganda , among others have continued with the initiative to plant 1million trees across the country in one day , as a show of firm commitment towards the Running out of Trees ( ROOTs ) Campaign whose ambition is to plant 40 million trees per year until 2026 . The Uganda Breweries Corporate Relations Director , Julian Kagwa , said that , investing in tree growing may not be seen in the short term as good business , but it is good for business . The company ’ s commitment to ROOTs started in 2019 , so far , they have contributed over Shs500million for this cause . Meanwhile , Stanbic Bank Uganda has given cash contributions for the last two years and this year , it has contributed Shs100million toward Running Out of Trees . The Stanbic ’ s Head of Sustainability , Cathy Adengo said that the bank ’ s goal is to inspire the rest of the private sector to be part of this initiative . “ Once you have a private sector that is active , involved , and engaged on a social economic issue of this scale , this will lead to greater impact on furthering the conversation and seeking solutions to a threat ,” Adengo said . The ROOT Campaign was launched in January 2020 as a 5-year project geared towards soliciting commitment from the private sector to support government ’ s initiative to restore forest cover . Over 25 million trees have since been grown .
Absa signs MoU with Kyambogo
Absa MD , Mumba Kalifungwa hands over MOU to Kyambogo University VC .
ON May 19 , Absa Bank signed an MoU with Kyambogo University that will facilitate the students and staff of the university to acquire laptops and other related accessories on loan instalment basis . Mumba Kalifungwa , the
CSR bank ’ s managing director said , “ Despite the strong benefits of digital learning , the cost of acquisition of enabling tools like laptops remains a barrier in Uganda . “ Through this arrangement , we provide a solution that brings flexibility for laptop ownership , removing barriers and offering affordable financing of up to Shs5 million to enable students acquire laptops . As a digitally forward bank , we believe digital learning increases access to education and knowledge while empowering students with a mindset and capabilities that set them up for success in their present and future .” The loans will have a maximum tenure of 36 months depending on the student ’ s remaining study duration . The University ’ s Vice Chancellor , Eli Katunguka welcomed the move .
CNOOC holds hygiene activity at Kingfisher village
On May 20 , CNOOC Uganda Limited , an oil and gas company organized a clean-up activity in the village of Kyabasambu under the theme " a clean environment for a healthy community ." Kyabasambu village is an urbanized and densely populated settlement within Buhuka parish , but is also in close proximity with most of the Kingfisher projects . The campaign aimed at demonstrating to the communities the importance of ensuring proper hygiene and sanitation for health and
safety , encouraging the village health teams and hygiene and sanitation groups to champion efforts to promote proper waste disposal , and to support the community by exhibiting in action the value the company attaches to its host communities .
Yunus Social Business Foundation hosts investors
Robert Zziwa , the CEO Green Bio Energy explaining to the YSB investors about his business .
Yunus Social Business Foundation Uganda hosted a group of investors from Europe , Brazil and Mexico for a three-day field visit to Mukono
and Soroti from May 9 – 11 after two years of lockdown . The purpose of the visit was to assess the progress of the social businesses that had received funding in the form of loans from Yunus Social Business Foundation . A total of three social businesses were visited , and these were Green Bio Energy in Mukono , Acila Enterprises Ltd and Eastern Agricultural Development Company Ltd ( EADC ) in Soroti district . Social businesses in nature are set up to solve urgent human problems like wealth inequality , lack of access to education and the climate crisis . Saskia Bruysten , the CEO and Co-Founder of Yunus Social Business Foundation , commended the social business owners on their resilience andpassion for ensuring the success of their businesses amidst the challenges over the last two years .
NBL to keep beer prices unchanged
Beer maker , Nile Breweries Limited announced on May 19 that it is maintaining the prices of its beer unchanged , despite the negative economic pressures faced by businesses across the board . Executives said , this is deliberate to enable consumers continue to enjoy their favourite beers as they cope with the economic hardships . “ We understand that prices of most commodities , including the raw materials we use to make beer , have increased across the country . However , we also understand that Ugandans are still trying to recover from the upheaval that was brought about by the Covid-19 lockdown ,” said Onapito Ekomoloit , Nile Breweries legal and corporate affairs director .