Mainstreaming Gender in the National Financial Inclusion Strategy 2023-2028

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    As the Bank of Uganda develops the National Financial Inclusion Strategy II 2023 – 2028 this report aims to provide an overview of the status of women’s financial inclusion in Uganda and propose recommendations. In Uganda, the gender gap in access to financial services is lower than in most sub-Saharan African countries. This gap also appears to have narrowed in recent years.

    However, differences in usage persist, with women using more informal services. Women financial inclusion encompasses very different realities depending on the socio-economic characteristics of individuals. Indeed, the gender gap is more pronounced among poor, rural, and least educated individuals. The barriers that women encounterin accessing financial services are thus diverse.

    Gender norms are deeply entrenched in society and condition all women’s activities, particularly their financial inclusion. Moreover, women lack access to and control over economic resources. The price of financial products is often perceived as a major obstacle to women financial inclusion. Finally, some regulations in place, such as the
    need for collateral and KYC regulation, also impede women’s access to financial services.

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