Ugandans urged to adopt saving culture

Jul 28, 2020

Finance minister Matia Kasaija says a saving culture is key in wealth creation.

Ugandans urged to adopt saving culture

Ismael Kasooha
Journalist @New Vision

Finance minister Matia Kasaija has said that mindset change among the people is key in developing Uganda.

He said this while launching the presidential initiative on wealth and job creation (Emyooga) in the three Greater Bunyoro districts of Kibaale, Kagadi and Kakumiro.

Kasaija said a saving culture is instrumental in wealth creation in the country. 

"If Ugandans adopt the saving culture, Government will stop borrowing from foreign countries and agencies," said the finance ministr on Tuesday during the launch.

When savings increase in Uganda, even the interest government pays on loans will be paid to Ugandans, he added.

Haruna Kasoolo, the state minister for microfinance, said Government aims at organising Ugandans through the emyooga to inspire a saving culture. 

Kasoolo added that every Ugandan should save 40% of the money they earn so that it can be invested for development.

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