NCBA Uganda has unveiled its first electric vehicle (EV) charging station at its Head Office at Twed Towers in Nakasero, marking a major step in the bank’s “Change the Story” sustainability agenda, which emphasizes a commitment to environmental responsibility and social impact.
The launch coincided with the introduction of a Hyundai Kona EV into the bank’s fleet, signaling a shift towards electric mobility within the organization.
Mark Muyobo, the bank’s chief executive officer said the initiative is part of NCBA’s broader sustainability commitment to environmental sustainability.
“This EV charging station represents a crucial step in our journey towards a more sustainable future. We firmly believe in responsible business practices and are committed to playing our part in mitigating climate change. This initiative is a testament to our dedication to creating a greener tomorrow, “Muyobo said.
Transportation is a major contributor to global carbon emissions. By installing EV charging stations and financing sustainable transportation options, NCBA is actively facilitating a transition away from fossil fuel dependence. This crucial infrastructure plays a vital role in encouraging wider consumer adoption of electric vehicles.
NCBA’s “Change the Story” campaign is deeply rooted in integrating environmentally friendly practices across all facets of its operations. This comprehensive approach encompasses initiatives such as:
• Growing 10 million trees by 2030.
• Eliminating the use of single-use plastics.
• Maximizing waste recycling efforts.
“By championing EV infrastructure and financing, NCBA demonstrates that financial institutions can play a pivotal role in achieving national and global sustainability goals,” Muyobo emphasized.
According to Muyobo, the launch of the electric charging point is a timely response to the growing number of electric vehicles on Ugandan roads.
Louisa Wandabwa NCBA Group Regional Director & Head of Group Strategy said NCBA Group has identified sustainability as a key priority and has set 15 ambitious goals. She said the bank is committed to working with private and public sectors to drive waste recycling, green our supply chain, and, importantly, mobilize financing for sustainable projects.
“As a bank, we’ve committed to raising 900 billion UGX for these initiatives, with a third already available for deployment across the region. We encourage businesses to partner with NCBA, as we have the resources and the expertise to drive their sustainability agendas,” she said.
Experts estimate that by 2030, widespread e-mobility adoption in Uganda could prevent 1.5 million tons of CO2 emissions annually. Therefore, early adopters like NCBA are not only paving the way for a transportation revolution but also contributing to a more sustainable and resilient future for Uganda.
Apart from investing in EV fleets and charging stations, the bank has also committed to grow 10 million trees by 2030, in addition to eliminating the use of single use plastics in its operations. The bank will maximize waste recycling, green its supply chain, align with the 2015 Paris Agreement and reduce its financed emissions by 2030.
NCBA Uganda’s sustainability efforts are guided by its “Change the Story” framework, which encompasses a wide range of ESG (Environmental, Social, and Governance) initiatives such as supporting sustainable projects through financial investments, reduce its carbon footprint through various initiatives and engaging in various social impact programs.
