Stanbic Bank offers financial literacy training to Kampala school administrators

KAMPALA, Uganda — Stanbic Bank has hosted a financial literacy workshop for senior administrators of primary, secondary, and vocational schools in the Kampala Metropolitan Area.

The six-hour program, held in partnership with Opportunity International, took place at Hotel Africana and brought together school directors, head teachers, and bursars. Participants explored topics including risk management, taxation, financial planning, business continuity, and school governance.

Hajji Ibrahim Ssemakadde, head teacher of Kibuli Muslim Secondary School, praised the initiative as timely. “Many schools struggle with financial management, often relying on limited fee collections to sustain operations,” he said. “This training has opened our eyes to better budgeting, cost-saving strategies, and even investment opportunities for long-term stability.”

Paul Muganwa, Executive Director and Head of Corporate Investment Banking at Stanbic Bank, emphasized the bank’s commitment to Uganda’s socio-economic transformation. “Extending this initiative to the education sector is vital, because no institution can thrive without sound financial knowledge and management skills,” he said.

Olga Priscilla Biribonwa, Stanbic Bank’s Head of Public Sector, noted that the bank has trained over one million professionals in recent years, with nearly 500,000 gaining financial literacy skills. She added that Stanbic plans similar engagements nationwide throughout the year, focusing on tailored services for the education sector.

Harriet Ssenkali, Acting Commissioner for Private Schools at the Ministry of Education and Sports, commended Stanbic Bank for its inclusive approach. “Financial management is key to institutional growth,” she said, urging school leaders to embrace such programs.

Dr. Johnson Byabashaija, the Commissioner General of Prisons, also lauded the training for enhancing the financial well-being of prison officers, a group that has benefited from similar Stanbic Bank initiatives.

Melisa Nyakwera, Stanbic Bank’s Head of Commercial Banking, said the initiative aligns with Uganda’s sustainable development goals, emphasizing the importance of empowering educators. The bank is refining its services to better support schools, addressing issues like expansion and cost efficiency.

Dogo Singh, Head of Insurance at Stanbic Bank, urged school leaders to integrate insurance into their management practices as a vital element of risk management.