Breaking barriers by promoting Personal financial wellness.

The Banking and Financial Services Awareness Month 2023 Financial Literacy Campaign.

As we celebrate Financial Literacy Month 2024, UIBFS, would like to share how we have contributed to the personal financial wellness of the community at large. During BAFSAM 2023 until February this year, we have been carrying out a Financial Literacy Campaign by conducting a variety of financial literacy clinics in different communities around the country.

From Kibuli to Mbarara and even all the way in Kalangala, we have preached the gospel of truth about financial wellness so as to contribute to our commitment to the National Financial Inclusion Strategy (NFIS). NFIS is a joint effort by the Ministry of Finance, Planning, and Economic Development and the Bank of Uganda. It aims to provide all Ugandans with easy access to good and affordable financial services, ensuring everyone's financial stability

At the core of this mission lies the need to promote financial literacy among the population.?Sharing the same mission, we have carried out Fin Lit clinics tailored to encompass people from all walks of life, especially individuals engaged in informal employment, especially those who earn daily wages, like mechanics and metal fabricators. These groups are often prone to impulsive spending habits, overlooking crucial future financial needs such as retirement planning and insurance coverage.?

Our impact.

This campaign enabled us to extend financial knowledge, empower individuals to make prudent financial decisions, and expose them to the available options. The desire to achieve a position where these individuals voluntarily take up savings and retirement plans to achieve personal financial wellness in the long run drove our commitment to continue with this campaign.?

We have been able to organize a total of 30 financial literacy clinics, which allowed us to speak to a total of 4,373 individuals, spanning from high schoolers to daily wage earners and even professionals in their respective workplaces.

This commendable endeavor has been made possible through the generous support of our esteemed sponsors: DTB Uganda, Absa Corporate and Investment Banking, Citi Bank, UGAFODE Microfinance Limited (MDI), Uganda Insurers Association, Deposit Protection Fund of Uganda (DPF), and aBi - Agricultural Business Initiative, alongside our partners, Uganda Bankers' Association and Bank of Uganda.

Their invaluable contributions have been instrumental in propelling this initiative forward. We cannot wait to reach even greater heights in this year's BAFSAM campaign!

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