Rotary Club Bulindo, in partnership with other Rotary clubs under District 9213, has launched a Financial Literacy Program designed to equip local communities with the knowledge and skills needed to participate effectively in Uganda’s money economy.
The initiative focuses on transforming financial behavior through saving, investment, and sound money management as tools for long-term economic empowerment.
Speaking during the launch, Percy Lubega, President of Rotary Club Bulindo, said that poor financial management remains a key barrier to success for many Ugandans.
“A lot of people have challenges with being successful, even when there’s money. How people manage money affects their quality of life, their health, and social harmony,” Lubega noted.
He added that the program will help individuals make informed decisions on saving, investing, and avoiding financial fraud.
“This initiative will empower people to safeguard their investments through financial education and tools like insurance. Through Rotary, we can help communities build financial discipline and resilience,” he said.
The Financial Literacy Program will be rolled out through community sensitization campaigns across District 9213, focusing on helping households manage resources more effectively and participate meaningfully in Uganda’s formal economy.
Governor of Rotary District 9213, Godfrey Martin Kitakule, officially launched the program, emphasizing that Rotary’s role goes beyond charity to building sustainable livelihoods.
“The purpose is to create a financially literate world, enabling people to make sound financial decisions that ensure both social and economic empowerment,” Kitakule said.
He stressed that mastering basic financial skills—such as saving, investing, managing expenses, and accessing credit—is essential for fostering self-reliant and resilient communities.
“Poverty or lack of economic empowerment quickly erodes human dignity and values. As they say, ‘poverty is the cause of all evil,’” he remarked, calling financial literacy a crucial tool in breaking the cycle of poverty.
While Uganda has made progress in expanding financial inclusion, gaps remain. The FinScope Survey 2023 revealed that financial inclusion rose to 81% from 77% in 2018, with 60% of adults saving in some form.
Yet only 20% feel confident about achieving long-term financial goals.
The report also shows that 90% of transactions in Uganda are still cash-based, and 70% of citizens live beyond their means. Of the 23.5 million labour force, only 14.6% are covered by social security.
According to the National Social Security Fund (NSSF), 83% of savers have Shs10 million or less, and 80% exhaust their savings within two years of withdrawal. Only 5% achieve financial independence after retirement.
Daniel Ayebare, Chairperson of the Financial Literacy Association of Uganda (FLAU), commended Rotary’s intervention, saying it complements government efforts to integrate more Ugandans into the money economy.
“For people to understand the importance of entering the money economy, they must have knowledge. Financial literacy gives people the skills and confidence to manage money well—saving, investing, and protecting their wealth even during economic shocks,” Ayebare said.
He added that a financially literate population not only builds personal wealth but also contributes to broader national economic growth and resilience.
Through this Rotary-led initiative, local communities will gain the tools and knowledge to navigate the modern financial landscape — turning awareness into action and driving Uganda’s transition into a more inclusive and empowered money economy.