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Kampala, Uganda | THE INDEPENDENT | The Ministry of Education and Sports is set to collaborate with Stanbic Bank Uganda to boost Technical and Vocational Education and Training (TVET).
The partnership was announced by the Permanent Secretary, Kedrice Turyagyenda while launching the tenth edition of the Stanbic Bank Schools Championship.
According to Turyagyenda, the collaboration will be more of a benchmarking relationship, where the ministry will learn from the bank’s success in sustaining an innovative program for the past decade.
“Recently, our Amended TVET Act was passed, and the president signed it. It was gazetted, and on Saturday, March 15, it commenced,” she said. “So, we are going to work together because you have been engaged in this for years, and I am sure we can join hands as we review the TVET programs at various levels skills level, craft levels, and technical levels to determine what needs to be included,” she said.
She emphasized that the new TVET Act is intended to drive revolutionary thinking about skills development, making Stanbic Bank a critical partner due to its extensive experience.
Onesmus Kansiime, from the Social Development Goals (SDG) Secretariat, stated that the competition aligns with all 17 SDGs under the Agenda 2030, as well as the African Union’s Agenda 2063. He noted that such initiatives support Uganda’s ambitious target of achieving a USD 500 billion economy by 2050.
He highlighted that the program speaks to the UN Pact for the Future, particularly the Digital Compact, which promotes opportunities for innovators. “We have agreed to exercise patience until the prototypes graduate into feasible business cases,” he said.
Kansiime, further emphasized that the competition is a local fulfilment of the Pact’s resolution, which calls for expanding initiatives focused on skilling and empowering youth through investments in technical vocational training programs and harmonized curricula.
Over the past ten years, the competition has benefited up to 540,000 learners from more than 1,000 schools across the country, incubating over 200 innovative enterprises, into which the bank has invested up to 7 billion Shillings.
Mumba Kalifungwa, the Chief Executive of Stanbic Bank Uganda, stated that the championship is more than just a competition. He said that the program introduces young people to entrepreneurship at an early stage. “It transforms them from mere job seekers into job creators,” he explained. “Each year, at least 600 innovative business ideas are generated, resulting in 200 businesses across various sectors.”
Mumba revealed that the bank aims to make the competition a regional program to include neighbouring countries and expand its impact beyond Uganda’s borders. “One of the things we want to explore is elevating this platform into a regional initiative so that we can address youth unemployment not only in Uganda but across the region,” he explained.
He acknowledged the role of collaboration from various stakeholders, emphasizing that their support has been the cornerstone of the program’s success. He also expressed optimism about further growth as new partners come on board.
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