NCBA Bank, in collaboration with the National Forestry Authority (NFA), has allocated over UGX 45 million for tree planting in degraded forests. This initiative, which aims to plant 20,000 trees annually, is part of a broader effort to restore Uganda's forest cover as outlined in the National Development Plan III, which targets a 24% forest cover by 2040.
"In May 2024, NCBA and NFA signed an MoU committing to plant 20,000 trees per annum as part of our sustainability program and in alignment with the government's National Development Plan III," stated Mark Muyobo, CEO of NCBA Bank. This commitment was reaffirmed as NCBA Bank staff travelled to Masaka District yesterday July 4th, 2024, to begin rehabilitating degraded sections of the Jubiya Forest Reserve.
NCBA Bank's ambitious goal of planting 10 million trees by 2030 highlights its dedication to environmental conservation.
This initiative will be supported through strategic partnerships, direct financial support, and comprehensive monitoring and evaluation. "At NCBA Bank Uganda, we recognize the importance of tree planting in fighting climate change and protecting ecosystems. Our efforts provide lasting benefits such as carbon capture, employee participation, and community support," Muyobo noted.
The initial efforts in Masaka District are just the beginning of a nationwide campaign to restore degraded forests.
Aldon Walukampa, Corporate Communication Officer at NFA, emphasized the multifaceted benefits of this initiative. "We are here to restore degraded forests, enhance biodiversity, and combat climate change. This will go a long way in providing many ecological benefits in a holistic manner. Today, we are planting not just trees, but also hope and a sustainable future," Walukampa said.
When asked about the regional expansion of the tree planting program, Muyobo explained that the responsibility of identifying degraded forests would lie with the NFA. "Through our partnership and commitment, we aim to come to the rescue of various regions across Uganda, ensuring that each area receives the attention it needs for forest restoration," he added.
The initiative has garnered strong support from local leaders, including Andrew Battemyetto Lukyamuzi, Chairman of L C 5 Masaka District. He pledged to collaborate closely with NCBA Bank and NFA to restore forests in Masaka and beyond. "Our forests have been attacked by individuals who burn charcoal, which harms the environment. This must come to an end. I welcome NCBA Bank and NFA for this milestone. Thank you very much," Lukyamuzi concluded.
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The partnership between NCBA Bank and the NFA is a crucial step towards addressing the pressing issue of forest degradation in Uganda. Forests play a vital role in maintaining ecological balance, supporting biodiversity, and mitigating climate change through carbon sequestration. The degradation of forests, often due to activities such as charcoal burning, has far-reaching implications for the environment and local communities.
Restoring these forests will not only enhance biodiversity but also provide numerous ecological benefits, including improved air quality, water conservation, and soil protection. Furthermore, the initiative promotes community involvement and awareness, encouraging sustainable practices and fostering a sense of responsibility towards the environment.
NCBA Bank's commitment to environmental sustainability, in partnership with the National Forestry Authority, marks a significant milestone in Uganda's efforts to combat forest degradation. By planting millions of trees and restoring degraded areas, this initiative aims to create a lasting positive impact on the environment and the well-being of future generations. With continued support from local communities and strategic partners, Uganda can look forward to a greener, more sustainable future.
