Stanbic Uganda Holdings Limited recently renovated its Kalangala branch on the Ssese Islands, marking a renewed commitment to the community. The bank was the first to establish a service centre on the islands. Among those who witnessed the ceremony was Constantine Nsubuga, an established oil palm farmer on the island. His story is intertwined with the bank's, as he has benefited from their support. Nsubuga's transformation from a civil servant to a leading oil palm farmer began in 1983.
Nsubuga arrived in Kalangala in 1983 as a civil servant supplementing his income through coffee farming. However, when coffee harvests became unpredictable, he turned to oil palm farming. He started with 2.5 acres and has since expanded to 45 acres, also owning a livestock enterprise, a family home, a vehicle, and a school. His journey demonstrates the impact of long-term investment, access to finance, and partnerships. The bank's support has been instrumental in his success.
The oil palm sector has transformed livelihoods and reshaped the local economy in Kalangala. Nsubuga's success story is not unique, as many farmers have benefited from oil palm farming. The consistency of income from oil palm, compared to seasonal coffee payments, has enabled farmers to plan for the future. Nsubuga's experience has allowed him to save, invest, and expand his business, creating a thriving enterprise.
Nsubuga's proudest achievement is not his plantation, but the Bbeta Glorious Kindergarten and Primary School he built to serve children in his community. He believes education is an investment with long-term returns. The school represents his commitment to sharing prosperity and creating opportunities for others. His story is a shared community success story.
Stanbic's support for oil palm farmers in Kalangala dates back to when many financial institutions were cautious. The bank established a branch on the islands and partnered with the Ssese Oil Palm Growers SACCO to provide financing to farmers. Nsubuga benefited from this partnership, which has grown significantly since its inception in 2019. The SACCO has supported over 1,800 harvesting farmers and enabled expansion across the cooperative.
According to Kalangala branch manager Lillian Akello, Stanbic's role extends beyond lending to include financial literacy, savings, and capacity building for sustainable growth. This approach is part of Stanbic's Positive Impact Agenda, which aims to advance opportunities for women, youth, and farmers through financial inclusion and enterprise development. The bank has committed to mobilizing up to Shs 1 trillion by 2028 to support inclusive economic growth.
Stanbic's 35-year milestone in Uganda is being measured not only in years but in journeys like Nsubuga's. The bank's purpose, driving Uganda's growth, is illustrated by stories like his. As the bank marks this milestone, it is clear that its impact is felt in communities like Kalangala, where farmers have benefited from its support and have created new opportunities for themselves and others.
Key points
- Stanbic Uganda Holdings Limited has reaffirmed its commitment to the Kalangala community with the renovation of its branch on the Ssese Islands.
- Local oil palm farmer Constantine Nsubuga's success story is intertwined with Stanbic's support, demonstrating the impact of long-term investment and partnerships.
- The bank's Positive Impact Agenda aims to advance opportunities for women, youth, and farmers through financial inclusion and enterprise development.
