We need finance public education

SIR— Finance minister Gerald Sendaula made a speech to bank chiefs on December 19 which was published in The New Vision on December 24. He outlined the Government’s broad policy on how to improve and develop the financial sector. The Government has done well to attach great importance to the development of this sector. However, there is need for public education in finance. People don’t plan for their businesses; they spend lavishly on weddings only to divorce later because of poverty; politicians borrow to win votes. How is the minister to mobilise people? Further, the public’s knowledge of financial products and services and investment opportunities is greatly assumed. How many Ugandans know about bonds, treasury bills and stocks? If the Government and other stakeholders in the financial sector want to see a robust economy, they must begin by teaching the public about personal finances. This should be government strategy if we want a robust economy.Michael DembeKampala