Masindi, May 9th, 2025: Centenary Bank, Uganda’s leading commercial microfinance bank, has launched its efforts to restore 20 hectares of the degraded Masindi Central Forest Reserve in conjunction with the National Forestry Authority today.

This initiative brings to life the bank's recent commitment to contribute UGX 60 million to the restoration of the forest reserve in Masindi District. The funds will go toward achieving the bank’s tree-growing target of at least 40,000 trees in 2025, with support from NFA.

Through this three-year partnership, Centenary Bank hopes that its tree-growing efforts will support the complete restoration of Masindi CFR. This ecologically significant area plays a vital role in Uganda’s environmental health. The forest is home to various flora and fauna, including endemic and endangered species. It also functions as a carbon sink, aids in water catchment, and contributes to soil conservation, all crucial in combating climate change's effects.

At the event, Allen Ayebare, Chief Manager Corporate Communication and Sustainability for Centenary Bank, expressed her gratitude to the National Forestry Authority for identifying a restoration site that aligns with the bank’s commitment to mitigating environmental degradation in Uganda.

“I’m honoured to be here today as we kick off the initiative to re-green 20 hectares of Masindi Central Forest Reserve. Partnering with the National Forestry Authority (NFA) gives real weight to what we at Centenary Bank strive to achieve through our tree-growing efforts. Over the years, we’ve made a conscious commitment to improving the environment in which we operate. In just the past two years, we’ve planted 70,000 trees in different parts of Uganda, and today’s effort is yet another step in our ongoing journey to build a greener, more sustainable Uganda,” Allen said.

“Today, together with the National Forestry Authority, we are proud to demonstrate what true environmental stewardship looks like when two committed partners join forces. As a bank, we are honoured to be part of a collaboration that reflects shared values and delivers meaningful environmental impact,” she added.

Mr. Stuart Maniraguha, the Acting Executive Director of the National Forestry Authority, commended Centenary Bank for its continued and impactful efforts in the fight against deforestation. He said, “I would like to welcome all of you to this meaningful partnership event to fight environmental degradation in Masindi in the future. We are proud to restore one of the country's most critical green belts to biodiversity with Centenary Bank. Through such collaborative efforts, we have restored 25,000 acres of forest land across the country in the last five years. We focus on restoring degraded CFRs, boundary survey and demarcation, collaborative forest management (CFM) and partnerships, seedlings production and supply and tree plantation establishments to reduce pressure on natural forests.

“Ladies and gentlemen, planting trees is just the first step. The real task lies in ensuring that they grow—protected, nurtured, and integrated into the lives of the communities around them, “he concluded.

According to Global Forest Watch, Uganda lost 37.6 thousand hectares of natural forest in 2023 alone, an alarming figure underscoring the urgent need to accelerate efforts to curb deforestation and restore forest cover.

Centenary Bank allocates 2% of its previous year’s profits to Corporate Social Investment (CSI). This year, the bank has committed UGX 5.8 billion towards various initiatives, including community stakeholder support, the social mission of the church, health, education, financial literacy, and environmental conservation