Uganda’s Centenary Bank has taken a bold step in the fight against deforestation by partnering with the National Forestry Authority (NFA) to restore 20 hectares of degraded land in Masindi Central Forest Reserve. The bank has committed UGX 60 million to this three-year project, which aims to plant and nurture at least 40,000 trees by 2025.

The partnership was officially launched with both organizations emphasizing the urgent need to protect Uganda’s environment. Fabian Kasi, Managing Director of Centenary Bank, explained how deforestation has led to serious problems like soil erosion, unpredictable rainfall, and extreme weather conditions. These changes hurt food production, public health, and the economy, especially in rural areas where people depend heavily on natural resources.

“Environmental sustainability is at the heart of our mission,” said Kasi. “Through our Environmental, Social, and Governance framework, we are committed to practices that make a real difference in people’s lives.” The bank plans to care for the newly planted trees until they are three years old – the age when they can survive on their own.

Stuart Maniraguha, Acting Executive Director of NFA, welcomed the partnership, calling it a perfect example of how organizations can work together to restore Uganda’s forests. “Sustainable forest restoration requires teamwork,” he said. “This collaboration with Centenary Bank helps us fulfill our mandate to protect forest reserves and ensure future generations can enjoy their benefits.”

Recent reports show Uganda has made progress in increasing forest cover from 9.5% in 2015 to 13.3% today. However, the country still needs to reach its target of 15% forest cover by 2026. Experts warn that without immediate action, current gains could be lost, leading to worse environmental problems.

Centenary Bank is no stranger to environmental projects. Over the past two years, it has planted more than 70,000 trees across Uganda. The bank has also installed solar power in 11 branches to reduce reliance on non-renewable energy and introduced special loans for water and sanitation projects.

The Masindi forest initiative reflects Centenary Bank’s growing role in sustainable finance and responsible business practices. By investing in reforestation, the bank hopes to combat climate change, protect biodiversity, and support communities that rely on forests for survival.

As the trees grow over the next three years, they will help prevent soil erosion, improve air quality, and restore habitats for wildlife. The project also creates awareness about the importance of environmental protection among local communities.

With this partnership, Centenary Bank and NFA are setting an example for other organizations to follow. Their joint effort proves that when businesses and government agencies work together, they can make a lasting impact on Uganda’s natural heritage.

The success of this project could inspire similar initiatives across the country, bringing Uganda closer to its forest cover goals while safeguarding the environment for future generations. As climate change continues to threaten livelihoods, such collaborations offer hope for a greener, more sustainable future.