Home Athletics Uganda’s Olympics team receives Absa Bank funding

Uganda’s Olympics team receives Absa Bank funding

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Uganda's Olympics team receives Absa Bank funding
Absa Bank, Uganda Managing Director Mumba Kalifungwa (left) hands over a dummy cheque to UOC President Donald Rukare (2nd right). The two were flanked by some of the Olympics bound athletes

Uganda’s athletes who will represent the nation at the Tokyo 2020 Olympics have received 26 Million Shillings from Absa Bank, Uganda as a seed funding. This development was confirmed on Friday at Kabira Country Club in Bukoto, Kampala.

The bank will open an account for each of the 25 athletes of the Olympics team and an initial deposit of One Million Shillings will be made.

The seed funding is an addition to the first 54.5 Million Shillings that Absa had offered to the Olympics bound stars for equipment and training ahead of the event.

The Olympics will run from 23 July to 8 August 2021 in Tokyo, Japan with 25 Ugandan athletes (13 females and 12 males) set to be in the mix.

Uganda Olympic Committee (UOC) President, Donald Rukare thanked the banking institution for their kind gesture towards the athletes adding that the funding will surely motivate the athletes as they hunt for silverware.

“We are truly humbled for this kind offer from Absa. We are looking forward to more partnerships,” Rukare said before revealing the details of the team.

Absa Bank, Uganda Managing Director, Mumba Kalifungwa who offered a vote of thanks to the UOC and the Olympics bound athletes revealed that they are interested in seeing sports excel at all levels.

“It’s an honor to see young people lifting their country’s flag at a global stage. However, we need to work together inorder to bring possibilities to life. I wish you utmost success!” Kalifungwa said before encouraging athletes to make good financial decisions.

Five qualified athletes physically attended the event, that is; three Bombers (boxers) – Musa Shadir Bwogi (Captain), David Ssemujju, Catherine Nanziri including free-style swimmer Ambala Atuhaire and distance runner Halima Nakayi.

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The 2020 Summer Olympics, officially the Games of the XXXII Olympiad, and commonly known as Tokyo 2020, is an upcoming international multi-sport event scheduled to be held from 23 July to 8 August 2021 in Tokyo, Japan.

Originally due to take place from 24 July to 9 August 2020, the event was postponed in March 2020 as a result of the COVID-19 pandemic. Despite being rescheduled for 2021, the Games have retained the “Tokyo 2020” name for marketing and branding purposes.

This marks rthe first time that the Olympic Games have been postponed rather than cancelled.

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