Bankers, regulators partner to promote savings culture
The officials say consistent saving, responsible borrowing and proper investment planning are essential in improving household financial security and building a financially resilient population.
(Courtesy)
_________________ (Courtesy)
Bankers and financial sector regulators have partnered to promote a savings culture among Ugandans, urging the public to embrace financial discipline, make informed investment decisions and take advantage of formal financial services to secure their financial future.
The officials say consistent saving, responsible borrowing and proper investment planning are essential in improving household financial security and building a financially resilient population.
They made the call during the three-day Banking and Finance Expo 2026 held at Constitutional (City) Square in Kampala from November 5 to 7, 2026, where over nine financial sector players engaged the public on savings, investments and responsible use of financial services.
Aisha Nakanwagi, a financial inclusion expert and financial literacy trainer with the National Social Security Fund (NSSF), urged Ugandans to exercise caution when choosing investment opportunities, warning against schemes that promise unrealistic returns.
She encouraged individuals to conduct due diligence, understand the risks involved and invest their money in credible and trusted ventures rather than being attracted by promises of quick financial gains.
Her message was reinforced by Hermione Nakabugo, an executive trainer and official at the Capital Markets Authority (CMA), who cautioned the public against get-rich-quick schemes that often expose unsuspecting investors to financial losses.
Nakabugo encouraged Ugandans to seek reliable information about investment opportunities and understand the risks before committing their savings.
The two officials said responsible investment practices were important in protecting people's savings while enabling them to grow their wealth sustainably.
Their message, directed at over 100 city-based traders who attended the expo, formed part of a wider financial literacy campaign involving institutions such as NSSF, CMA and the Deposit Protection Fund, aimed at improving financial health through consistent saving, informed borrowing and responsible investment.
Goretti Masadde, the chief executive officer of the Uganda Institute of Banking and Financial Services (UIBFS), said financial health was built through consistent, informed and responsible financial decisions.
She urged individuals to develop the discipline to save, regardless of their income levels, plan for the future, manage credit responsibly and make sound financial choices.
“Financial health is built through consistent, informed and responsible financial decisions. It requires individuals to develop the discipline to save, no matter how little they earn, plan for the future, manage credit responsibly and make sound financial choices,” Masadde said.
She said the expo was intended to bring financial education closer to the public by providing opportunities for people to interact directly with financial service providers, understand available products and acquire practical knowledge to improve their financial well-being.
Masadde added that financial health was important not only for individuals and households but also for organisations, communities and the wider economy.
Chandan Singh, the managing director of Bank of Baroda, challenged Ugandans to embrace saving as a daily financial discipline, saying it should not be regarded as a practice reserved for high-income earners.
“Saving should not be viewed as something reserved for people who earn a lot of money. It is a financial discipline that everyone can develop, starting with whatever little they can put aside. The important thing is to build consistency and make saving part of everyday life,” Singh said.
Singh said financial awareness initiatives such as the expo were important in bringing financial service providers closer to the public, building confidence in formal financial services and empowering more Ugandans to save, invest and plan for a financially secure future.
Samuel Matekha, a marketing officer at Diamond Trust Bank and financial literacy trainer, said financial literacy and inclusion were important pillars in building a financially resilient population and sustainable financial sector.
He encouraged members of the public to use financial services responsibly, set realistic financial goals and work consistently towards achieving them through regular saving and informed financial decisions.
Matekha also called for increased efforts to bring more people into the formal financial system.
The expo was organised by UIBFS in partnership with the Bank of Uganda (BoU) and the Uganda Bankers Association (UBA), as part of the 2026/27 Banking and Financial Services Awareness Campaign (BAFSAC).
It brought together players from across the financial services sector to showcase products and innovations in banking, insurance, savings, investments, digital payments, credit and other financial services.
Through exhibitions, stakeholder engagements and financial literacy training sessions, members of the public interacted with financial service providers, learnt about available financial solutions and explored opportunities presented by digital financial services.
The campaign was held under the theme “Financial Health to Grow 10 Times”, with the overarching message, “The Planned Adult: Think Ahead and Decide Wisely.”
It focuses on two interconnected pillars: Personal Financial Sustainability and Organisational Sustainability, recognising that sustainable financial well-being begins with individual financial discipline and extends to organisations' ability to make sound financial decisions, manage resources effectively and build long-term resilience.
The campaign builds on previous initiatives implemented by UIBFS, BoU and UBA since 2020 to promote financial literacy, savings, financial inclusion and responsible financial decision-making among individuals and organisations.