Standard Chartered Bank in partnership with BRAC Uganda has launched a girl Child Empowerment Fund of USD 113000 ( UGx 420 M) that will help Ugandan Girls to develop their Entrepreneurial skills.
The money will be channelled through the Goal program being implemented by BRAC Uganda and is expected to support about 250 girls in business start-ups.
It will also help skill about 3000 girl entrepreneurs with Financial Education.
“Educated women are healthier as are their children. Investing in girls can result in increased prosperity and diversity. We recognize that gender equality is critical to economic growth,” said Albert Saltson, the CEO Standard Chartered Bank.
He said the most impactful ways to enable women to be more of Economic Value is through Education. Saltson said countries with more equal education have on average of 23% greater Income per capita that is why the bank is partnering with BRAC to Implement the Goal program as the first step in supporting girls in the country.
BRAC Uganda Country Representative Hasina Akhter said the Intervention by the bank to support in the implementation of the program is necessary and timely as Uganda is witnessing increasing numbers of adolescent girls who are forced to leave schools.
“There are so many secondary school age children out of school and an increasing number is being married off before the age of 18years.
“This poses a serious threat to the country’s future generation which needs to be addressed through programs like Goal,” She explained.
Janet Mukwaya the Minister of Gender and Social Development noted that by supporting girls to become entrepreneurs, it will help the government to overcome the social and economic challenges faced by young women.
BY SAMUEL NABWIISO