Five Universities will be beneficiaries of the Citi Bank’s Youth Social and Financial Education (YSFE) Program which targets young people within these universities and those that have left. “We dedicate over 40,000 dollars into this program annually and we believe that the program will go a long way into empowering the youth with all the skills that are required for them to reach employability that is necessary for their future.” Said, Sarah Arapta – Chief Executive Officer – Citi Bank Uganda.

Wasswa Balunya the Principal Makerere University Business School one of the beneficiary Universities said banks being the custodians of credit are of great significance in promoting financial literacy and inclusion among the youth. “You need also to be able to empower those who bring in the money may be to be able to make a little more money than what they are bringing in. Commercial banks create credit, they create money, you are lending but where are you lending this money, what is happening to the money that we are lending out there? Is it becoming useful or not?” Said, Waswa Balunywa – Principal, Makerere University Business School.

And for such interventions like Citi Bank’s program, a key aspect that promotes entrepreneurship, a key change agent for society is achieved starting with young people. “Usually one of the challenges that the youth say is that they say they don’t have the money. Many scholars are saying that maybe money is not what we need, you need the entrepreneurial mind. But once you have the entrepreneurial mind, you definitely need money to back it up.” The Youth Social and Financial Education Program is an initiative of Citi Foundation, Private Education Development Network Bank of Uganda, Industrial Cottage Uganda, and Crested Capital among others.