An assessment of credit cost disclosures
There is a need to promote trust in the financial sector by putting robust consumer protection measures in place – this will help protect lower-income borrowers from poor market conduct and bridge the credit gap in the market.
Uganda confirmed its first case of COVID-19 this weekend. The Government of Uganda, together with private sector actors, continue to demonstrate great leadership by putting in place and adopting progressive measures aimed at protecting Ugandans and limiting the impact of the pandemic.
The 2019 Financial Inclusion Week themed Financial Inclusion: For What? Is being recognized globally between October 21 and October 25. The Financial Inclusion Week (FIW) is aimed at getting stakeholders to revisit their fundamental purpose and renew efforts to achieve financial inclusion. FSD Uganda will share a series of reflections from our technical experts and stakeholders. Today, we hear from the Uganda Communication Commission about opportunities that exist to protect and empower consumers through information…
Uganda has made, and continues to make great strides in regulation. Perhaps most notably is the development of regulatory experiment (or sandboxes) – a cutting edge approach designed to allow fintechs to try new innovations without disrupting the existing financial ecosystem.
By Joseph Lutwama and Kim Kariuki
Technology advancements in the last two decades have resulted in a chain reaction of innovations in financial services never experienced in this generation. Whereas previously financial services would only be accessed in big, tall and intimidating bank branches, now a financial transaction can be completed in just under a minute without stepping into a bank branch or even talking to a banking relationship manager across the counter.
This report aims to give an overview of the Ugandan banking sector and the potential opportunities that exist to increase the banked population. The information generated by the FinScope Uganda survey, conducted in 2018, provides the basis for this report’s analysis.
Information presented in all tables and figures are obtained from analysis of FinScope 2018 dataset.
Efforts to increase formal financial inclusion in Uganda are faced with significant challenges which are both supply and demand side in nature.
Money management, planning and the safe building of assets are core components of a larger set of economic and social skills needed to achieve a sustainable livelihood. In recent years, there has been a growing recognition of the obstacles women and young adults face in developing these abilities. Financial service providers (FSPs), however, are still failing to meet the needs of these sections of society. In the process, they are missing out on the potential benefits of developing the female and young adult economy.
The findings of the FinScope survey conducted in 2018 show that formal insurance uptake in Uganda is at 1%. Current insurance penetration in Uganda is also estimated at 1%. The low level of formal insurance uptake is attributable to public mistrust, low public awareness and a narrow insurance product range – especially for low income earners.
Uptake of formal insurance was 6% in Kenya, 9% in Rwanda and 15% in Tanzania. This means that uptake of formal insurance in Uganda is the lowest in the region.
By Joel Muhumuza(FSDU) and Protazio Sande(IRA)
It’s midnight and Muzeeyi Bizibu and his wife are meant to be asleep because they have to wake up at 5am to go to work. However, Muzeeyi Bizibu’s chest is yet again bothering him. He can’t seem to breathe well and is having coughing fits. It might be pneumonia.
Presentation at the Innovation Forum and FSDU Insurance Challenge Fund Launch – Kampala, 10 December 2018.
By Former Communications Officer
Advances in Technology could be the solution to smallholder farmers’ access to financial services in Uganda. Take Enid Nimusiima, 42 years old, a member of Mushanga Savings and Credit Cooperative Societies (SACCOs) in Sheema District, in Uganda.
Blended Finance Catalysing Financial Inclusion in Uganda
Data sets – FinScope Uganda 2023 Survey Dataset
Unlocking Long-Term Savings: The Role of Technology and Multistakeholder Collaboration in Uganda
Leveraging Insights from Uganda’s 2023 FinScope Survey for Product Design
FinScope Uganda 2023 Survey
Empowering Micro, Small, and Medium Enterprises: The Influence of Microfinance Group Lending
