Ugandans urged to prioritize saving

To inspire a stronger savings culture among Ugandans, the Bank of Uganda has urged citizens to prioritise saving as a foundation for financial stability and resilience. It was observed that many Ugandans often resort to borrowing during times of need because they lack sufficient savings to cushion them against financial shocks. Strengthening the national savings culture, therefore, is essential not only for personal financial security but also for the country’s sustainable economic growth. These remarks were made during the launch of the 6th season of the Banking and Financial Services Awareness Campaign, themed “Planned Adult.” The campaign, organised by the Bank of Uganda in partnership with the Uganda Institute of Banking and Financial Services and the Uganda Bankers’ Association (UBA), aims to equip Ugandans with the knowledge and discipline needed for responsible financial management.