Business & Management
Address Financial Literacy to Improve Household Income-Study
Findings by a team of researchers from the College of Business and Management Sciences (CoBAMS) have recommended that the Government through its agencies should partner with private financial institutions to organise financial literacy trainings to teach households on how to access capital, save and invest in productive ventures. The recommendations were made at a research dissemination workshop for the project titled: Evaluation of the effectiveness of financial inclusion on household’s welfare in Uganda: A case study of Busoga region.
While officially opening the hybrid dissemination workshop held on Wednesday 29th September 2020 in the School of Business Conference Room and virtually, the Principal CoBAMS, Dr. Eria Hisali thanked the Government of Uganda for funding the project through the Makerere University Research and Innovations Fund (Mak-RIF). He equally commended the Principal Investigator (PI), Dr. Eric Nzibonera and his team on successfully completing their project and achieving the set objectives.
Dr. Hisali proposed four options to ensure that the findings from the study reach a wider audience.
- Immediately upload the findings on the College’s new working paper series website, which will enable staff to read the document and provide feedback
- Proceed to transform the working paper into a journal article so as to reach audiences from different parts of the world
- Proactively review curricular in preparation for the possibility of gradually using research from Makerere as part of course outlines and teaching materials.
- Take advantage of the College’s planned framework of engaging policy makers formally through policy labs that will be held every quarter.
Presenting the findings from the project, the PI Dr. Nzibonera thanked the Principal for his advice and his research team for their hard work. Other members of the team that sampled 430 heads of households included the Dean School of Business Dr. Godfrey Akileng and Ms. Hellen Nambi.
“Financial Inclusion is a process through which financial services are delivered to the disadvantaged and low-income sections of the society on a timely basis and at affordable costs” defined Dr. Nzibonera, adding that “the relationship between financial inclusion and poverty alleviation has been widely discussed but only few studies explore the effect of financial inclusion on household welfare.”
He therefore shared the twofold objective of the project as; to establish the extent to which the rural households engage in financial inclusion and to examine the nature of household welfare and establish the extent to which financial inclusion enhance households’ welfare. The latter, he noted, would help guide policy recommendations to the Government and private sector.
Dr. Nzibonera noted that financial inclusion is measured through establishing the extent of availability and accessibility to financial services, affordability, usage and quality of financial products. He added that household welfare is improved through access to quality education and health services, improved shelter, food production and consumption as well as access to information.
The findings on availability and accessibility to financial services revealed an interesting pattern. “Whereas households still find it hard to access formal financial services for savings and deposits’ and services provided by bank agents are irregular, they easily access mobile money services for withdrawals and payments” he shared.
In terms of affordability, findings revealed that although the cost of accessing financial institutions and withdrawing funds from mobile money agents is still high, the cost of accessing financial services through bank agents and carrying out financial transactions through financial institutions is affordable.
Investigations into the usage and quality of services showed that households find it easy to use mobile money and village SACCOs to make deposits and payments for school fees. Despite the ease of use, households find it hard to save with banks, microfinance institutions and SACCOs.
“The accounts opened in banks and SACCOs are not frequently used and the services offered by banks or their agents are not regular” added Dr. Nzibonera.
The research team’s findings showed that financial inclusion has partly enhanced the welfare if households in Busoga.
“The study revealed improvement in income levels as a result of accessing loans from financial institutions and SACCOs. The number of school going children has also increased as a result of borrowing opportunities from SACCOs” said the PI.
Dr. Nzibonera added that although it is easy for households to access information about financial services relevant for welfare improvement, “there is limited income to enable households gain access to good healthcare and carry out construction.”
The team therefore made the following policy recommendations;
- Financial and microfinance institutions should employ agents to at least every parish or sub-county to grant households easy access to financial services.
- Government through District commercial officers should encourage households to organise into village savings and credit cooperative organisations (SACCOs) at parish level and identify unique financial products that promote savings and investments for different groups.
- Government agencies such as the Micro Finance Support Centre and Operation Wealth Creation (OWC) should partner with private financial institutions to organise financial literacy trainings for households on how to save as well as identify and invest in productive investment ventures.
- The cost of financing should be reduced to rates that are affordable by households. This will improve household income for both consumption and investment.
- Financial institutions should design financial products that would enable households to access funds for construction as long as there is a clear payment plan and evidence of source of income for loan repayments.
Speaking on behalf of the Mak-RIF Grants Management Committee (GMC) Chairperson Prof. William Bazeyo, Dr. Helen Nambalirwa Nkabala congratulated the research team upon the successful dissemination and thanked Dr. Hisali for proposing policy labs as a means of engaging policy makers.
She urged Dr. Nzibonera as a firsthand witness on the state of financial inclusion to go beyond the policy recommendations and draft a successor project proposal on solutions that can clearly and precisely take financial inclusion at the grassroots level to the next level.
“You are the right people to guide Government on what unique product the community will get and how it will help improve their financial knowledge” she recommended.
Dr. Nkabala thanked the Government for funding research and innovations that inform national development priorities and the University Management for creating an environment conducive to conducting research. In the same breath she thanked the GMC for providing oversight and the GMC Secretariat for ensuring that the projects run smoothly.
“This is a clear example of taking the Ivory Tower to the community” she concluded.
Representing Mr. John Peter Mujuni, Executive Director, Microfinance Support Centre (MSC) and Chief Guest at the dissemination, Mr. Godfrey Mangeni thanked the research team for a job well done, and pledged take the findings and policy recommendations very seriously.
“Please share these findings so that we can work with you in other areas like Bukedi and Karomoja to improve our services” he remarked.
Mr. Mangeni shared that there still remains a lot of work to be done to support Government’s Parish Development Model in the Busoga region despite MSC’s zonal office in Jinja and a satellite office in Iganga and as such, called upon researchers from Makerere to share their expertise.
Delivering the concluding remarks, Dr. Akileng in his dual capacity as Research Team member and Dean noted that Financial Inclusion is an important topical issue for national development and therefore expressed happiness that the Government had found it fitting to fund the project.
“As a nation, we need to reflect reflect on Government interventions aimed at addressing gaps of financial inclusion that financial institutions have not been able to fill” he rallied. This reflection, he said, ought to be guided by the question ‘Where have been the successes in social impact and where have been the failures?’
He noted that although Financial Technology (FINTECH) is the buzzword when it comes to improving service delivery, its success is hinged on how easy it will be for end-users at the grassroots level to adopt the various solutions offered.
“I believe that a highly informed community with the ability to easily access financial services and mobilise savings is key to the improvement of household earnings as well as boost demand and productivity in the country” he added.
In the discussion that preceded the concluding remarks, Mr. John Emoi, the Manager Investments at Uganda Development Bank who joined the conversation virtually had expressed his organisation’s keen interest in the days topic and research findings. Particularly, he had urged the research team to include the development of FINTECH models as a means of disseminating financial services among their policy recommendations.
In conclusion, Dr. Akileng called for affirmative action for business teaching institutions, “Business touches every sector and it is important to appreciate that if we must make money in any sector, we must understand business.”
The Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe, has officially opened a one-week training for Ministry of Kampala Capital City and Metropolitan Affairs (MoKCC&MA) officials on Integrating and Managing Environmental, Social, Health and Safety (ESHS) Safeguards in Procurement.
The training, conducted by the Public Investment Management (PIM) Centre of Excellence, is funded by the World Bank and brings together officials from KCCA, metropolitan and municipal authorities under the Greater Kampala Metropolitan Area (GKMA) programme, alongside officials from central government ministries and agencies.
Opening the training, Prof. Nawangwe emphasized that safeguarding is a critical pillar of sustainable development and accountable public service delivery.
“If we get things wrong in Kampala, we affect the entire country. Everything done in this city must be well planned, socially responsible, and environmentally sound,” Prof. Nawangwe said.
Drawing from his professional background as an architect, the Vice Chancellor underscored the importance of environmental, social, and safety safeguards, noting that failure to address these issues at planning and procurement stages can lead to loss of life, stalled projects, and massive financial waste. He cited international examples where projects were halted or countries faced global pressure due to neglect of environmental and social considerations.
Prof. Nawangwe commended the World Bank for its continued partnership with Makerere University, particularly in supporting the establishment and growth of the PIM Centre of Excellence, which he described as one of the University’s flagship initiatives with visible national impact.
“I see the work of the PIM Centre in government processes, in reports, and even in Development Committee meetings. That is real impact,” he noted, adding that strengthening in-country capacity through Makerere reduces reliance on costly external consultants.
He reaffirmed Makerere University’s commitment to supporting government through research, training, and policy-relevant knowledge, stressing that continuous professional development is essential in a rapidly changing world.
The Under Secretary, Ministry of Kampala Capital City and Metropolitan Affairs, Ms. Monica Edemachu Ejua, welcomed the training, describing it as timely and necessary given the challenges faced during project implementation, particularly in road construction.
Ms. Ejua, revealed that the training was informed by real and painful experiences, including fatal accidents on construction sites, some of which could have been avoided with stronger environmental and social safeguards.
“Environmental, social, and health and safety issues must never be downplayed. These considerations must begin at procurement planning, not at implementation,” she said.
She highlighted that procurement officers, engineers, planners, accountants, and administrators must all understand safeguards, noting that infrastructure development is inherently multidisciplinary.
“Development must be a blessing to communities—not a burden,” she added.
Ms. Ejua praised Makerere University for hosting the training and the World Bank for supporting government efforts to build institutional capacity, adding that learning does not end at graduation.
World Bank: Strong Country Systems Are Key to Development Impact
Presenting on behalf of the World Bank, Ms. Christine Kasedde, a Senior Environmental Specialist, explained that the training is part of a broader effort to strengthen country systems for managing environmental and social risks in development projects.
She noted that while the World Bank has committed over USD 4 billion to projects in Uganda, weak safeguards and capacity constraints have affected implementation and disbursement.
“Environmental and social safeguards are legally binding commitments. When they are not addressed properly, issues escalate to the highest levels of government,” Ms. Kasedde explained.
She outlined how the collaboration with Makerere University has led to the development of several short professional courses across CoBAMS, the College of Agricultural and Environmental Sciences (CAES), and the College of Humanities and Social Sciences (CHUSS). These courses address gaps in social risk management, environmental sustainability, health and safety, climate risk, and procurement.
Ms. Kasedde also revealed that the partnership has culminated in the establishment of an Environmental and Social Sustainability Centre at Makerere University, which will serve as a hub for training, research, advisory services, and independent assessments.
Procurement as a Tool for Sustainable Development
Representing the Public Procurement and Disposal of Public Assets Authority (PPDA), Ms. Mercy Kyoshabire, Director for Procurement and Disposal Capacity Building, emphasized that public procurement accounts for over 60 percent of government expenditure and must therefore be leveraged as a tool for sustainable development.
She reminded participants that environmental, health, and social safeguards have been embedded in standard bidding documents since 2019, urging procurement professionals to integrate sustainability throughout the procurement cycle.
“Sustainability is about the three Ps—People, Profit, and Planet. Procurement decisions made today should not compromise future generations,” she said.
Ms. Kyoshabire reaffirmed PPDA’s commitment to collaboration and capacity building, particularly with centres of excellence such as Makerere University.
A Model of Interdisciplinary Collaboration
The training also drew strong support from the Principal of CAES, represented by Dr. Patrick Byakagaba and, Principal CHUSS, Prof. Helen Nkabala, who emphasized Makerere University’s shift away from siloed approaches toward interdisciplinary collaboration in addressing national development challenges.
Prof. Edward Bbaale, Principal Investigator of the PIM Centre of Excellence, noted that the training responds to critical gaps identified at the pre-investment and procurement stages of public projects, particularly as Uganda pursues an ambitious growth agenda amid climate and social risks. Dr. John Sseruyange, the manager of PIM Centre of Excellence said, the week-long training is expected to strengthen the capacity of KCCA and GKMA implementing entities to integrate and manage environmental, social, health, and safety safeguards across the procurement and project implementation cycle, ultimately improving service delivery and protecting communities.
Business & Management
Building Skills for Better Public Investments: PIM Centre Trains Public Sector Economists
Away from the bustle of the city, in the calm setting of Mbarara, over 30 public service economists have gathered with a shared purpose: to strengthen the skills that shape how public resources are invested and how national development priorities are realised.
The two-week executive training on Economic Appraisal and Stakeholder Analysis, organised by the Public Investment Management (PIM) Centre of Excellence at Makerere University, officially commenced this week, bringing together public officers from across government, academia, state agencies, and civil society. At its core, the programme seeks to answer a fundamental question—how can Uganda ensure that every shilling invested in public projects delivers maximum economic and social value?
The training draws expertise from Makerere University, Cambridge Resources International (CRI), the Ministry of Finance, Planning and Economic Development (MoFPED), and the National Planning Authority (NPA), reflecting a strong partnership between academia, policy makers, and development practitioners. Participants represent a wide cross-section of institutions, including the Ministry of Internal Affairs, Uganda Tourism Board, MoFPED, Kiira Municipality, Wakiso Local Government, Kyambogo University, Makerere University, UEDCL, UNCST, UDC, the Uganda Police Force, Parliament of Uganda, and several civil society organisations.
Opening the programme on behalf of the Permanent Secretary and Secretary to the Treasury, Commissioner PAP, Ms. Gertrude Basiima, explained that the choice of venue was intentional. Holding the training away from the city, she noted, allows participants to concentrate fully and engage more deeply with the intensive content. Previous trainings held in similar settings, she added, had yielded positive results.
Ms. Basiima highlighted that the training is part of a long-standing strategic partnership between the Ministry of Finance and the PIM Centre of Excellence at Makerere University, housed in the School of Economics. Established in 2016, the collaboration was informed by diagnostic assessments that revealed persistent gaps in Uganda’s public investment management system—particularly in project identification, appraisal, selection, and implementation.
“These gaps are not merely technical,” she observed. “They determine whether public investments truly transform communities or fall short of their promise.”
The training builds on earlier modules in financial appraisal, equipping participants with advanced competencies in economic appraisal and stakeholder analysis. Through practical case studies and hands-on exercises, participants will explore demand forecasting, economic pricing, and sector-specific appraisal techniques applicable to energy, water, transport, and agriculture. By the end of the programme, participants are expected to competently conduct cost-benefit analyses and assess whether proposed projects merit inclusion in the national budget.
Ms. Basiima emphasised that while many feasibility studies are prepared by consultants, public officers must be able to interrogate, quality-assure, and defend these studies before decision-making bodies such as the Development Committee. The training, she said, is designed to position participants to do exactly that.
For Prof. Edward Bbaale, Director of the PIM Centre of Excellence, the training comes at a critical moment in Uganda’s development journey. With the country implementing ambitious programmes under the National Development Plan IV and the Ten-Fold Growth Strategy, public investment has become a central driver of socio-economic transformation.
Across the country, Uganda is investing heavily in transport infrastructure, energy generation and transmission, irrigation systems to respond to climate change, industrial parks, digital infrastructure, education, and health facilities. Yet, as Prof. Bbaale cautioned, the success of these investments depends less on the volume of funding mobilised and more on the quality of project preparation and appraisal.
“Economic appraisal must be seen not as a box-ticking exercise, but as a strategic tool for national transformation,” he said. “It enables government to prioritise projects with the highest economic and social returns, minimise fiscal risks, and ensure value for money.”
Prof. Bbaale also underscored the strength of the multi-institutional partnership supporting the programme, noting that it blends global best practices with Uganda’s policy realities. At the conclusion of the training, participants will receive a tripartite certificate jointly issued by Makerere University, the Ministry of Finance, and Queen’s University, recognising their enhanced expertise in public investment management.
For the Manager of the PIM Centre of Excellence, Dr. John Sseruyange, the training is as much about mindset as it is about technical skills. He encouraged participants to remain disciplined, engage fully, and build professional networks that will endure long after the two weeks in Mbarara.
“The skills you gain here will not only strengthen you as individuals,” he noted, “but will directly influence the quality of public investment decisions made across Uganda.”
As the sessions unfold over the next two weeks, the training stands as a testament to Makerere University’s enduring contribution to national development—building capacity, shaping policy, and preparing public servants to make decisions that drive sustainable growth, economic resilience, and shared prosperity for all Ugandans.
Beyond training, the PIM Centre of Excellence continues to play a broader national role through research and policy advisory services. The Centre has supported the review of Development Committee guidelines and convened national dialogue through its annual Public Investment Management Conference, including last year’s conference themed “Overcoming Implementation Barriers in Public Investment Management for Fiscal Sustainability.”
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