PROMOTING SPORT: Absa Bank gives UGX26m financial support to Uganda’s Olympic team as it heads to Tokyo, Japan

Absa bank Uganda has boosted the hopes of Uganda’s Olympic team through a cash injection amounting to UGX 26 million to ease in preparations for the 2021 Olympic games in Tokyo, Japan.

These funds are in addition to the UGX54 million earlier that was paid earlier by the Absa Bank Uganda to cater for the team’s training and equipment.

Absa bank’s Managing Director, for Uganda, Mumba Kalifungwa during his speech at the cash hand-over ceremony held at Kabira Country Club yesterday, said this is part of the bank’s efforts to support sports and talent development.

“It is an honour that young people are raising the flag high and representing the country on the international stage. At Absa, we leverage our African identity to breathe life in sports. We believe for Uganda and Africa to grow we need to work together in our capacity to support people leading efforts to raise this bar,” said Kalifungwa.

He noted that the main aim of the bank is to ensure the sports personalities succeed in their lives but also continue representing the country at an international level.

“This pool of talented sportsmen deserves all the support and encouragement they can afford. This is why we are stepping up to put money in where the country will benefit. We want them to succeed in their personal lives,” he added.

Dr. Donald Rukare, who is the Chairman of the Uganda Olympic Committee hailed Absa for bankrolling the national team.

“We applaud Absa for the gesture that will motivate the players during the Olympics games. We look forward to more engagements,” said Rukare.

Absa bank’s Managing Director announced that his bank will be opening an account for each of the 25 members of the Olympic team with an initial deposit of UGX1 million.

The Olympic games that were initially scheduled for 2020 were postponed to 2021 due to the ravaging effects of the global Covid-19 pandemic.

The international showpiece has since been rescheduled and is expected to commence in July this year in Tokyo, Japan.