Rotary Club targets 10,000 people in financial literacy campaign
Speaking at the launch in Kampala, Daniel Ayebare, the chairperson of the Uganda Financial Literacy Association, said many Ugandans still lack basic money management skills.
The initiative seeks to empower low income earners through practical lessons on budgeting, saving, and responsible borrowing. (Courtesy photos)
By Ali Twaha
Journalists @New Vision
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The Rotary Club of Bulindo, together with other clubs under District 9213, has launched a financial literacy campaign targeting residents in informal settlements to tackle the low levels of financial understanding.
The initiative seeks to empower low-income earners through practical lessons on budgeting, saving, and responsible borrowing.
Officials say that many urban poor face financial insecurity despite juggling multiple incomes and using digital services such as mobile money.
Speaking at the launch in Kampala, Daniel Ayebare, the chairperson of the Uganda Financial Literacy Association, said many Ugandans still lack basic money management skills.
“We are in an economy that is highly subsistence. Financial literacy is about having the skills to manage money well. When shocks like COVID happen, financially literate people are able to withstand them,” he said.
District Governor Godfrey Martin Kitakule.
A 2022 Bank of Uganda survey found that only 30% of Ugandans understand basic financial concepts.
Percy Lubega, president of the Rotary Club of Bulindo, said the programme aims to help citizens transition toward stable financial participation.
“We will be reaching the communities. We want people to understand where to save their money. Our goal is to reach about 10,000 people this year,” he said.
District governor Godfrey Martin Kitakule said that empowering residents to make informed financial choices will have benefits beyond individual households, helping draw more Ugandans into the formal economy.
“We have seen people retire and end up broke within a year. We are calling on other partners to join Rotary in teaching financial literacy,” he said.
Experts and facilitators noted that while mobile money and other digital services are widely used, a poor grasp of financial principles limits people from using these tools effectively.