Kampala, Uganda – In a bid to entrench financial responsibility among the next generation of wealth stewards, Stanbic Bank Uganda hosted its third annual Financial Literacy Session for Clients’ Children, a flagship initiative designed to equip young Ugandans with the tools to navigate the complexities of money, investment, and intergenerational wealth.
Held over the weekend in Kampala, the event convened close to 100 participants between the ages of 10 and 20 for an immersive learning experience spanning core financial disciplines—from budgeting and saving to investing and social etiquette. At the heart of the initiative lies a long-term vision: cultivating the financial acumen of future leaders who may one day inherit and manage family fortunes.
“Wealth is not sustained merely by accumulation—it endures through knowledge,” said Bernice Kamahunde Mvano, Head of Wealth and Investment at Stanbic Bank Uganda. “As trusted advisors to our clients, we recognize that true wealth management must extend beyond individuals to include their families—particularly the next generation.”
The programme’s focus on young people reflects a growing recognition within Uganda’s financial sector: that the stewardship of capital across generations hinges on early and practical financial education. For many families, the transition of wealth often falters due to a lack of preparedness among heirs—a vulnerability Stanbic aims to address through structured engagement.
As part of this year’s session, the bank unveiled the Stanbic Little Investor Account, a multi-currency savings product tailored to children and young adults. Designed to foster financial discipline from a young age, the account offers up to 6% interest annually, with free over-the-counter withdrawals and plans to introduce debit cards in a bid to instil personal accountability and goal-oriented saving habits.
To open the account, applicants under 18 must provide a birth certificate, a passport photo, and a parent or guardian’s identification; legal guardians may also open accounts with a court order.
Maria Ssempebwa, one of the beneficiaries, lauded Stanbic for the initiative, saying it has instilled a spirit of saving in her.
“I had been spending all the money my parents gave me for years, but with this training I’m going to become a better person. I’ve opened a small investment account and started saving immediately,” Maria said.
Financially Conscious Genz
The financial literacy sessions are part of the bank’s broader Women, Youth, and Farmers (WYF) Agenda a three-year initiative running up to 2028, that promotes inclusive growth across Uganda’s socio-economic value chain.
Through access to capital, skills development, and structured mentorship, the program seeks to unlock opportunity for the country’s most critical and often under-supported demographics.
Since its inception in 2023, the youth literacy initiative has mentored nearly 500 young Ugandans and plans are underway to expand to key regional cities, scaling its reach and impact.
Stanbic’s commitment to youth development also includes the Stanbic National Schools Championship, and partnerships with institutions like Busitema University, where the bank fully sponsors 100 students annually for vocational training. These initiatives reflect an integrated approach to long-term socio-economic empowerment which aligns purpose with profit, and community engagement with corporate strategy.
As financial institutions worldwide grapple with the challenge of staying relevant to younger, digital-native audiences, Stanbic’s approach signals a deliberate shift toward sustainable banking models rooted in education, trust, and generational alignment.
In Uganda’s rapidly evolving financial ecosystem, where mobile banking and informal savings groups dominate, the bank’s investment in youth financial education represents both a strategic differentiator and a social imperative.
By cultivating financial literacy from the ground up, Stanbic Bank is not merely banking on future customers—it is investing in future custodians of the nation’s economic prosperity.
Do you have a story in your community or an opinion to share with us: Email us at editorial@watchdoguganda.com
