Liberty Life Assurance Uganda Launches Kuza School Challenge

Liberty Life Assurance Uganda has launched the Kuza School Challenge, an initiative aimed at equipping high school students with essential financial literacy and entrepreneurship skills.

The program, which targets students in their formative years, seeks to instill a strong foundation in financial management and community-driven entrepreneurship.

The challenge encourages students to develop innovative business ideas that address social or community issues, with guidance and mentorship provided by Liberty Life. The company plans to expand the program to more schools across Uganda, impacting over 5,000 students in its first year.

Uganda’s financial literacy statistics are concerning, with only 32% of the population being financially literate, according to the Bank of Uganda (2023).

Additionally, 70% of small business owners lack essential financial management skills (World Bank, 2023). Liberty Life aims to bridge this gap by targeting secondary school students at a critical stage of their development, providing them with the tools to make, save, and grow money while thinking creatively about their future.

Danish Mohammad Eqbal, CEO of Liberty Life, highlighted the importance of leveraging online resources to develop viable business proposals. He encouraged students to focus on creating solutions that can bring positive change to their communities.

The Kuza School Challenge offers seed funding, technical support, and mentorship to help students grow their businesses. Winners will receive UGX 2 million to kickstart their ventures, along with ongoing guidance.

Kabojja International School headteacher, Anna Sundell, expressed her gratitude, emphasizing the importance of instilling social responsibility in students. The program is expected to run for one year, with plans for inter-school competitions in future phases.