Centenary Bank has signed a three-year partnership with the National Forestry Authority (NFA) to restore forest cover in Masindi District, starting with the planting of 50,000 trees.
The partnership was launched on Wednesday, April 16, 2025, at the bank’s headquarters in Mapeera House, Kampala.
During the event, Centenary Bank announced a UGX 60 million contribution to support the first phase of the project with the money going towards planting and taking care of trees on degraded land.
“This is just the beginning, we’re not just planting trees, we’re growing them. One tree at a time, one partnership at a time, we can protect our future,“ Dr. Fabian Kasi, the Managing Director of Centenary Bank said.
NFA Executive Director Stuart Maniraguha, welcomed the partnership and called for more support from other companies and asked the bank to help nearby communities who rely on firewood for cooking.
“Centenary Bank is trusted by Ugandans ,By working together, we can restore our forests and help our people. Forests are shrinking, and we cannot ignore this crisis anymore,” Maniraguha said.
According to NFA Uganda’s forest cover fell from 24% in 1990 to only 9% by 2015. Recent efforts have raised it to 12.7% by 2023.
The two parties signed a Memorandum of Understanding (MoU) to formalize the partnership. The project is expected to make a big difference in the fight against deforestation in Uganda.
