Stanbic Bank has donated IT Equipment comprising of computers worth UGX 100 Million towards helping Makerere University management reequip its main administration centre following a fire that destroyed a substantial part of the famous main building.
Commonly referred to as the ‘Ivory Tower,’ the iconic building caught fire the last week of September 2020. The case is still being investigated by the relevant authorities. Meanwhile, furniture and office equipment across departments including HR, finance and PR were destroyed as well as most of the roof.
Anne Juuko, CEO of Stanbic Bank Uganda said, “This donation is key for Stanbic Bank as education forms the key pillar of our Corporate Social Investments. We believe quality education is critical to achieving social and economic growth. Makerere holds a very special place in our hearts and for the country as a centre of knowledge and excellence. It is, therefore, an honour to respond to the appeal by Vice-Chancellor Prof Barnabas Nawangwe to work together and rebuild this iconic establishment.”
Professor Nawangwe presently leads a fundraiser to pay for the restoration of the main building. Established in 1922 as a humble technical school, Makerere University grew into one of the oldest and most prestigious English universities in Africa. In January of that year, the school, which was later renamed Uganda Technical College, opened its doors to 14 day students who began studying carpentry, building and mechanics.
Since then, Makerere has steadily transitioned into an international institution offering not only day but also evening and external study programmes to a student body of about 35,000 undergraduates and 3,000 postgraduates (both Ugandan and foreign). It is also an active centre for research.
Stanbic Bank has had a longstanding relationship with Makerere University. Two years back, the bank paid for all the renovation works of the Sir Albert Cook Medical Library. Stanbic Bank is also funding research for the Makerere Sanitation Project and has in the recent past, donated computers for the university’s Revenue Services Unit (MURSU), to help streamline student processing.
Stanbic Bank Uganda is part of the Standard Bank Group, Africa’s largest bank by assets. Standard Bank Group reported total assets worth $163 billion on 31 December 2019, while its market capitalisation was $20 billion. The group has direct, on-the-ground representation in 20 African countries.
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