A New Chapter for Nabumali: Equity Bank's Generous Gift Unlocks a World of Possibilities
Imagine a school, vibrant with potential, yet hindered by the lack of a simple necessity - transportation. But today, Nabumali Boarding Primary School in Mbale District is celebrating a breakthrough moment, thanks to Equity Bank Uganda.
The air was electric with excitement as pupils, teachers, and locals gathered to witness history. Among the dignitaries were Mr Paddy Khaukha, District Education Officer, Mr Moses Kutoi, the area Mayor, and Rev. Eridad Milton Shissa, the Diocesan Secretary of Mbale Diocese. The celebrations kicked off at 9 a.m. with a symbolic send-off from Equity Bank's Mbale Branch, followed by a lively journey to the school grounds.
As the bus arrived, the community's joy knew no bounds. The pupils performed poetry and traditional dances, adding to the festive atmosphere. For the residents, this moment marked more than just a new bus; it symbolized progress, convenience, and a brighter future.
But here's where it gets controversial... Nabumali acquired this bus through Equity Bank's Asset Financing Facility, a financial scheme that allows individuals and institutions to own assets without paying the full price upfront. In this case, the school paid only 20% of the bus's cost, with Equity Bank covering the remaining 80%. The school will repay this amount over nine school terms, or three years.
Mr Nakhasanga Ronald Sam, Equity Bank's Regional Manager for Eastern Uganda, explained during the handover ceremony, "This initiative demonstrates our commitment to empowering education and community development."
For Nabumali, transportation has been a long-standing challenge, especially for academic trips and sports events. But with this new bus, the school and the community can look forward to a smoother, more accessible future.
Ms Beatrice Katami Wachaya, the Head Teacher, emphasized, "This bus is a gift not just to the school but to the entire community. As educators, we strive to make a positive impact, and this is a step towards that goal."
Founded by missionaries in 1975, Nabumali Boarding Primary School is a beacon of education in the Bugisu subregion. Jointly managed by the Church of Uganda and the Government, it remains the region's only boarding primary school under Universal Primary Education (UPE).
So, what do you think? Is this a win-win situation for all involved? Or does it raise questions about the role of financial institutions in community development? We'd love to hear your thoughts in the comments!
