Business
Train clients on finance management, banks told
Publish Date: Mar 22, 2014
Train clients on finance management, banks told
Commissioner Investment and Private Development Stephen Kasangaki (left) and David Sempala of Royalway Media listen to exhibitors of APA Insurance Company at UMA on Friday. PHOTO/Wilfred Sanya
  • mail
  • img
newvision

By Wilfred Sanya     

KAMPALA - Improved financial literacy can drive competition, increase economic participation and market efficiency in the financial services sector, says the executive director of Royalway Media.

ED David Sempala said mobile financial services are increasingly tapping into the local market.

He said such services are designing products tailored for those without bank accounts but who instead have access to mobile devices.

Sempala said this at the opening of a three-day banking finance and insurance expo at Uganda Manufacturers Association (UMA) in Kampala on Friday.

“Despite continued advances in Uganda’s financial industry, millions of Ugandans still operate outside the formal financial system, saving money under mattresses or under their beds,” he said.         

He pointed out that financial literacy broadly contributes to the economic health of the society.

More capable consumers and investors offer the prospect of improved household savings performance, reduced dependence on government and lower levels of problem debt, he said.

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
SA braces for economic backlash from xenophobic attacks
A wave of xenophobic attacks in South Africa could provoke reprisals from neighbouring countries, raising concerns among South African business leaders and officials....
‘If your absence doesn
Last night, over 200 marketers across the divide gathered at Silver Springs, Bugolobi and took notes from keynote speakers who took to the podium....
Ugandans in America want government to streamline investment policies
Ugandans living in America want clear government policies and guidelines on how they can invest in their own country....
Crest Foam factory re-opens
Government has allowed Crest Foam mattress factory to re-open. The factory was closed on March 9 following a fire that left 6 people dead and property worthy sh6b destroyed....
Major Greek bank to wipe debts of poorest clients
One of Greece's largest banks is to wipe away the debts of clients who owe up to 20,000 euros ($21,600) in a one-off gesture to ease the burden on its crisis-hit customers....
US envoy urges youth to embrace agriculture
THE United States ambassador to Uganda Scott DeLisi has called upon youth to embrace agriculture as a pound-for-pound answer to the biting unemployment in the country...
Do you support KCCA'S move to return city communter buses?
Yes
No
Can't Say
follow us
subscribe to our news letter