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The program follows discussions between Johnson Byabashaijja, the Commissioner General of Uganda Prisons, and Anne Juuko, the Stanbic Chief Executive.
Israel Arinaitwe, the Head of Private and Personal Banking, who represented Juuko at the launch over the weekend, said the new initiative aligns with the bank’s purpose, ‘Uganda is our home; we drive her growth.’
“We made a commitment to the Commissioner General to provide 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,” he said.
Arinaitwe said the programme aims to benefit 52,416 officers and their families with the main aim of empowering them to make smarter decisions about their money.
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Ali Lwanga the Stanbic Bank Kampala Metropolitan area Regional Manager said that through conversations with the Prisons leadership, a number of issues were identified.
These included 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 prioritizing expenditure on a small government salary among others.
“Through the series of financial literacy clinics, we plan to conduct, we will address these financial pain points, provide practical solutions and guidance that will empower the prisons fraternity to overcome these challenges,” Lwanga said.
Stanbic Bank also pledged to provide a special and swift financial partnership waiver like subsidizing interest rates on different financial products for all the prison officers country-wide.
Stella Nabulya, the Commissioner of Prisons, Kampala Extra Region hailed Stanbic Bank for providing this opportunity to acquire new skills and transform the lives of staff for the better.
She highlighted that a good number of prison officers struggle with issues related to financial management.
She said, “After today, I know the lives of our officers and their spouses will not remain the same as the topics and experiences being shared here are timely. During my time in office, I have witnessed several civil savants, including those from the Prisons Service, retire into absolute poverty. With this brotherly intervention, I’m exceedingly optimistic that the script is indeed going to change.”