Standard Chartered Bank and Voluntary Services Overseas to invest Ugx 1 billion in Youth Empowerment, Entrepreneurship and Decent Employment programme
Kampala; Standard Chartered Bank Uganda in partnership with their NGO partner Voluntary Service Overseas have today at Kampala Serena Hotel launched a Youth Empowerment, Entrepreneurship and Decent Employment programme worth Ugx 1,056,000,000 (One billion and fifty million shillings only).
The launch that was presided over by the was hybrid event with over 60 guests at the hotel and hundreds of attendees online.The Project is set to target 500 youth in from Kampala and Wakiso districts and will be implemented not only in partnership with Voluntary Service Overseas but also KCCA, WAKISO District Local Government and Rural Effort for Action and Development (READ).
This program will be tailored to suit diverse youthful audiences, providing them with practical knowledge, skills, and experiences to build collaborative local solutions that align with Standard Chartered Future markers Foundation’s work in Uganda and also solve the communities’ most pressing challenges focusing on; Employability: Workforce readiness for 100 young people – including people with disabilities through (vocational and soft) skill development, as well as linkages to employers to access internships, apprenticeships, and transition to decent jobs.
The project will also focus on improving employer policies & practices to support the employment of young people (Including internships and work experience) as well as ensuring young people are employment-ready Entrepreneurship: the project will support 400 young women and men – including persons with disabilities to engage in entrepreneurship (start-ups and mostly early-stage businesses) to grow, increase incomes and get more market opportunities.
This is aimed at increasing the number of youth-led Small Medium Enterprises (SMEs) established, their access to business networks and their adoption of improved & inclusive business practices as well as resilience to economic shocks such as Covid-19 Strengthening the enabling environment: We focus on equipping young people to act as leaders and role models in their families and communities by supporting the development of recognized youth networks and leaders that can engage government, private sector and employment associations for policy improvements and champion job creation among excluded young people including people with visual impairments.
During the virtual launch, Albert Saltson, the CEO Standard Chartered Bank Uganda said;“As Standard Chartered Bank we are committed to supporting our community by promoting the social and economic development of young people from low-income households.
Our intent is to provide transformative opportunities and fundamentally transform the lives of the youths by enabling them to build their own bright futures and navigate the various challenges they are faced with! I am confident that with this donation of One billion and fifty-six million Uganda shillings (Ugx 1,056,000,000) we will make a significant impact on the lives of the beneficiary youth in Kampala and Wakiso districts.He further stated: “In partnership with our implementing partner – Voluntary Service Overseas, we will continue to work alongside other stakeholders and Government to strengthen the capacity of young people, especially girls and people with disabilities, through employability skills, entrepreneurship and improving their chances of getting jobs and even empower them to start up their own businesses.”VSO Project Implementation Lead Mr. William Mugerwa while speaking at the launch said;“Under our Youth Empowerment skilling programme we have done a tremendous job in preparing many youths for the future through skilling and mentorship programmes in partnership with several stakeholders.
It gives us immerse pleasure to start a solid partnership with Standard Chartered Bank and the Standard Chartered Futuremakers that will further advance the work we have been doing and benefits hundreds of youth who have been disadvantaged and hampered by the pandemic and other local and global challenges.
While launching the event, the Minister of State for Youth and Children Affairs – Hon. Sarah Mateke Nyirabashitsi commended the Bank and its partner for this initiative stating;“On half of the Government of Uganda, I wish to heartily thank Standard Chartered Bank Uganda, the Standard Chartered Foundation and Voluntary Service Overseas for supporting Government efforts by investing in the vulnerable youth most especially in these challenging times. As Government we will continue to put several measures in place and offer various support to youth in various communities to assist them navigate the various challenges they experience and empower them to create sustainable income generating activities.”