Dfcu bank in partnership with NTV Uganda and Price Waterhouse Cooper has Tuesday launched the 2nd season of the Investment Clubs challenge dubbed “Battle for cash”.
As part of the efforts to promote a savings culture in Uganda, Dfcu bank introduced the investment clubs program in 2017.
Dfcu CEO William Sekabembe said the program has since grown with over 15,000 active investment clubs that cut across all segments including students, the professionals, women and youth.
“Following last year’s inaugural campaign, dfcu registered an increment in investment clubs with over 6,000 clubs being set up from July 2017 to date” he said.
“We have been taking the lead on this since 2017 when we introduced the saving and investment clubs. We believe that providing financial literacy is critical in driving financial inclusion in a sustainable way.”
Season 2 according to the CEO promises to present participants with intense and more challenging tasks and even greater learning opportunities.
The Battle for Cash challenge will provide a free platform to invest clubs to showcase their success stories over a period of six months.
“Clubs which are able to present innovative investment ideas and demonstrate the ability to consistently pool savings towards the realization of their objectives for a minimum period of six months will be eligible to enter the competition.
“Over 100 million in prize money has been set aside for the best investment clubs.
“Additionally, one delegate from each 20 selected clubs that will enter the competition will be sponsored to attend a study tour in Nairobi to share experiences, network, widen their knowledge and contacts.