Issue 719 - Page 27

Private sector firms join Water ministry to plant trees
Absa signs MoU with Kyambogo
CNOOC holds hygiene activity at Kingfisher village
Yunus Social Business Foundation hosts investors
NBL to keep beer prices unchanged
CSR

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 .

BANKING

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

BusiNess
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 .
SOCIAL ENTERPRISE

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 .
BREWERIES

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 .

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