Liberty Life Assurance Uganda has introduced the Kuza School Challenge, a new initiative designed to equip high school students with vital financial literacy and entrepreneurship skills. Aimed at fostering strong financial management and innovative, community-driven entrepreneurship, the program targets students at a formative stage in their education.

The challenge encourages students to create business ideas that tackle social and community issues, with Liberty Life providing mentorship and guidance. The company plans to expand the initiative across Uganda, reaching over 5,000 students in its first year.

Uganda faces significant financial literacy challenges, with only 32% of the population being financially literate, according to a 2023 report by the Bank of Uganda. Additionally, 70% of small business owners lack basic financial management skills (World Bank, 2023). Liberty Life aims to close this gap by empowering secondary school students with the tools to manage and grow their finances while thinking creatively about their futures.

Liberty Life CEO Danish Mohammad Eqbal stressed the importance of using online resources to develop viable business proposals and encouraged students to focus on creating solutions that positively impact their communities.

The Kuza School Challenge offers seed funding, technical support, and ongoing mentorship to students, with the top winners receiving UGX 2 million to launch their ventures. Kabojja International School headteacher Anna Sundell praised the initiative, highlighting its role in promoting social responsibility among students.

The program will run for one year, with plans for inter-school competitions in future phases.