By Our Reporter
NATIONAL
Centenary Bank has today signed a Memorandum of Understanding with the National Forestry Authority in a landmark three-year tree planting initiative aimed at restoring forest cover in Masindi District.
The partnership was officially launched at Centenary Bank headquarters, Mapeera House in Kampala on Wednesday 16th April, 2025.
The initiative marks a significant step in private-public collaboration on environmental conservation, with Centenary Bank committing an initial Shs60 million towards the effort.
The funds will go toward the planting and nurturing of 50,000 trees in the first phase of the partnership.
Speaking at the launch, NFA Executive Director, Stuart Maniraguha lauded the bank for aligning its corporate values with environmental stewardship.
“Centenary Bank is an institution Ugandans trust, and by joining forces, we believe this partnership will deliver real results on the ground,” Maniraguha said. “As other sectors grow, our forests continue to shrink—this is a crisis we can no longer afford to ignore.”
Uganda’s forest cover, which stood at 24% of the country’s land area in 1990, had dropped to just 9% by 2015. Recent efforts have seen a modest recovery to 12.7% by 2023.
Maniraguha urged the bank to consider extending support to neighboring communities. They include addressing their dependence on biomass for cooking, which stands at 98%.
Centenary Bank’s MD, Fabian Kasi reaffirmed the bank’s commitment to sustainable development, noting a strategic shift from tree planting to tree growing long-term and impactful approach to reforestation.
“We’ve already planted 100,000 trees in the last 2 years, and this partnership with NFA will take our efforts even further,” Kasi said.
“Environmental conservation is not a one-off activity, it’s a lifelong commitment. 1 tree at a time, 1 partnership at a time, we can shape a future,” he added,
Both signed an MOU to formalize their partnership. This initiative adds to growing momentum in Uganda’s fight against deforestation, reinforcing the vital role that corporate partnerships can play in protecting and restoring natural ecosystems.
