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Empowering Rural Women Through Financial Literacy: A Spotlight on the FAAL Project

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Introduction

In the heart of Luweero District, a transformative initiative is making waves, empowering rural women with the knowledge and skills needed to achieve financial independence. On July 31, 2024, the Financial Awareness and Literacy Leadership (FAAL) project led by Dr. Hellen Namawejje from the Department of Statistical Methods and Actuarial Sciences held a dissemination event to share its findings and celebrate the success of its efforts. The event brought together a diverse group of stakeholders, including local leaders, community members, and the very women whose lives have been touched by the project.

Dr. Hellen Namawejje, Department of Statistical Methods and Actuarial Sciences, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa, Financial Awareness and Literacy Leadership (FAAL) project, empowering rural women with the knowledge and skills needed to achieve financial independence, research dissemination, 31st July 2024, Luweero District, Uganda, East Africa.
Dr. Hellen Namawejje.

A Community United

The event was a testament to the power of community and collaboration. Dignitaries such as the District Deputy Mayor Prince Juuko Patrick, the Semuto SACCO Manager, the Community District Officer, and three chairpersons from the study villages were in attendance, alongside over 50 women participants. The atmosphere was one of hope and excitement, as stakeholders gathered to discuss the impact of financial literacy on rural women’s lives.

Some of the participants keenly follow proceedings. Dr. Hellen Namawejje, Department of Statistical Methods and Actuarial Sciences, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa, Financial Awareness and Literacy Leadership (FAAL) project, empowering rural women with the knowledge and skills needed to achieve financial independence, research dissemination, 31st July 2024, Luweero District, Uganda, East Africa.

Prince Juuko Patrick, the District Deputy Mayor, inaugurated the event with a message of gratitude and encouragement. He praised the FAAL project for its dedication to improving financial literacy and urged the attendees to apply the insights gained to better their financial well-being. Other stakeholders echoed his sentiments, highlighting the critical role of financial education in fostering economic independence and community development.

Study Objectives and Key Findings

The primary aim of the FAAL project was to assess the financial awareness and literacy levels among rural women in Luweero District. The study included a comprehensive needs assessment, financial literacy training, and efforts to connect women farmers with various local associations, including healthcare, insurance, agricultural, banking, and women’s associations.

Key Findings:

  1. Financial Literacy Training: The training programs significantly enhanced participants’ abilities to make informed financial decisions regarding budgeting, saving, spending, and investing. This improvement is poised to elevate their standards of living over time.
  2. Financial Education: The study underscored the importance of accessible financial education at all life stages. It also revealed that business ownership and financial influence from family and school are vital in boosting financial literacy among rural women.
  3. Role of Associations: Membership in village savings and loan associations (VSLA) and Savings and Credit Cooperative Organizations (SACCOs) was found to be positively associated with higher financial literacy levels.

Recommendations for the Future

Based on the study’s findings, the FAAL project put forward several key recommendations:

  1. Continuous Training Programs: Implement ongoing financial literacy training to sustain and build upon the skills acquired by the women.
  2. Community-Level Financial Literacy Curriculum: Introduce a structured financial literacy curriculum at the community level to ensure consistent and comprehensive education.
  3. Community Sensitization: Raise awareness about government initiatives related to financial literacy and empowerment to enhance community engagement and participation.
  4. Encourage Family Financial Education: Promote the teaching of financial matters within families to instill good financial habits in children from an early age.

Transformative Impact

The FAAL project highlights the profound impact that financial education can have on rural women, empowering them to achieve greater economic independence. By equipping them with the necessary skills and knowledge, these women are better positioned to support themselves, their families, and their communities.

Dr. Hellen Namawejje, Department of Statistical Methods and Actuarial Sciences, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala Uganda, East Africa, Financial Awareness and Literacy Leadership (FAAL) project, empowering rural women with the knowledge and skills needed to achieve financial independence, research dissemination, 31st July 2024, Luweero District, Uganda, East Africa.
Dr. Hellen Namawejje.

Speaking on the sidelines of the training, Dr. Namawejje appreciated the support of the Carnegie Corporation of New York through the Future Africa Research Leadership Fellowship (FAR-LeaF) at the University of Pretoria for the support. She appreciated her mentor Prof. Bruno Yawe for his invaluable guidance and support.

Conclusion

The dissemination event in Luweero District was more than just a presentation of findings; it was a celebration of progress and a call to action. The FAAL project serves as a beacon of hope, demonstrating that with the right support and education, rural women can transcend financial barriers and contribute significantly to their communities’ development. As Uganda continues to embrace initiatives like FAAL, the future looks brighter for rural women striving for financial independence and a better quality of life.

Betty Kyakuwa
Betty Kyakuwa

Business & Management

School of Economics Hosts Team Building Event, Celebrates Excellence with Awards

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Staff pose for a group photo during the activity. School of Economics, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala team-building activity, 15th January 2025, Buwatte, Wakiso, Uganda, East Africa.

On Wednesday, January 15, 2025, the School of Economics at Makerere University organized a vibrant team-building activity in the scenic surroundings of Buwatte. This initiative aimed to foster stronger bonds among staff members, celebrate outstanding achievements, and set a collaborative tone for the year ahead.

The day was filled with a variety of activities designed to promote teamwork and camaraderie. Staff members enthusiastically participated in interactive games, lively discussions, and fun challenges that brought out their competitive yet collaborative spirit. The games were followed by a hearty lunch, where everyone gathered to share stories, laughter, and a sense of community. The event culminated in a joyous moment of merry-making, which showcased the School’s vibrant culture of inclusivity and togetherness.

Prof. Ibrahim Mike Okumu (L) and Mr. Fredrick Kasalirwe (R) pose with their Academic Excellence and Best Teaching Awards respectively. School of Economics, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala team-building activity, 15th January 2025, Buwatte, Wakiso, Uganda, East Africa.

The occasion also served as a platform to honor outstanding individuals who had excelled in their roles over the past year. The award for the best journal paper was presented to the Dean, Prof. Ibrahim Mike Okumu, in recognition of his exemplary contribution to academic research and publication. Meanwhile, the coveted Teacher of the Year Award, as voted by students, was bestowed upon Mr. Fred Kasalirwe for the second consecutive year. This recognition underscored his dedication to delivering engaging and impactful learning experiences.

In his address, Prof. Okumu expressed heartfelt appreciation for his colleagues’ hard work and commitment, which he credited for the School’s numerous achievements in 2024. He extended special congratulations to the winners of the Vice Chancellor’s Excellence Awards, acknowledging their contribution to enhancing the university’s reputation for academic excellence.

Prof. Ibrahim Mike Okumu (2nd R) with staff engaged in one of the games. School of Economics, College of Business and Management Sciences (CoBAMS), Makerere University, Kampala team-building activity, 15th January 2025, Buwatte, Wakiso, Uganda, East Africa.

Prof. Okumu emphasized the importance of sustaining the spirit of teamwork, which he described as a cornerstone for the School’s continued success. He encouraged his staff to embrace collaboration as they embark on new academic and administrative pursuits in 2025.

The team-building event was not only a celebration of the past year’s accomplishments but also a rallying call for a productive and united future. Staff members left the event reinvigorated and motivated to uphold the School’s vision of academic excellence and impactful scholarship. As the School of Economics enters the new year, this memorable day in Buwatte stands as a testament to the power of unity, shared purpose, and the collective commitment to shaping a brighter future for the institution.

Hon. Dr. Joyce Moriku Kaducu (2nd R) presents the Teacher of the Year Award to Fredrick Kasalirwe (C) during the Convocation Luncheon. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Research, Teaching, Students Excellence Awards, Edge Road, Makerere University, Kampala Uganda, East Africa.

Betty Kyakuwa
Betty Kyakuwa

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Nine CoBAMS Staff, Best Students Receive Excellence Awards

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Hon. Dr. Joyce Moriku Kaducu (3rd R) presents the Mid-Career Award to Dr. Ssendawula Kasimu (3rd L) during the Convocation Luncheon. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Research, Teaching, Students Excellence Awards, Edge Road, Makerere University, Kampala Uganda, East Africa.

Nine members of staff from the College of Business and Management Sciences (CoBAMS) at Makerere University were honored with the Vice Chancellor’s Excellence Awards during the institution’s 75th graduation ceremony. The awards were presented at a special graduation luncheon, where the Vice Chancellor, Prof. Barnabas Nawangwe, recognized exceptional lecturers and researchers across various categories—early, mid, and senior career—as well as outstanding educators based on student evaluations.

Namugenyi Christabellah and Richard Ssempala were awarded in the category of early career scholars. The two were recognized for their exemplary research contributions, each achieving five publications in 2024. In the mid-career category, Dr. Peter Kisakye emerged as the standout performer with 11 publications, followed by Dr. Anthony Tibaingana, Mushomi John Atwebembeire, and Dr. Ssendawula Kasimu, who each published seven papers during the year.

Hon. Dr. Joyce Moriku Kaducu (3rd R) presents the Award to Namugenyi Christabellah (3rd L). Convocation Luncheon, 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Research, Teaching, Students Excellence Awards, Edge Road, Makerere University, Kampala Uganda, East Africa.

Dr. Patricia Ndugga, Mr. Fred Kasalirwe, and Dr. Faisal Buyinza were celebrated as the best teachers, following outstanding evaluations from students, showcasing their commitment to delivering high-quality education.

Speaking at the award ceremony, Prof. Nawangwe congratulated the winners and commended their dedication to excellence in teaching and research. “These awards reflect our university’s unwavering commitment to fostering academic and professional excellence. As Makerere University, we take pride in nurturing talent and rewarding those who inspire innovation, dedication, and knowledge creation. Congratulations to all the awardees for setting a remarkable example for others to follow,” he said.

Right to Left: Prof. James Wokadala, Prof. Edward Bbaale, Dr. Allen Kabagenyi, Dr. Stephen Ojiambo Wandera, Dr. Patricia Ndugga and Ms. Namugenyi Christabellah. Convocation Luncheon, 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Research, Teaching, Students Excellence Awards, Edge Road, Makerere University, Kampala Uganda, East Africa.

The event was graced by the State Minister for Primary Education, Hon. Joyce Kaducu, who lauded Makerere University for its continued commitment to academic excellence. In her remarks, she stated, “Makerere University’s role in shaping the future of our nation cannot be overstated. These awards are a testament to the caliber of educators and researchers the institution nurtures. I encourage all awardees to continue striving for greater achievements and to inspire the next generation of leaders and scholars.”

At the same luncheon, ACCA Uganda recognized three top-performing students of the Bachelor of Commerce (Accounting) program. Ndagire Sarah, Yiga James Mark, and Nabagereka Rebecca, each graduating with an impressive CGPA of 4.68, were awarded plaques in recognition of their outstanding academic performance.

Ndagire Sarah (2nd R) and Yiga James Mark (2nd L) flanked by ACCA Uganda Country Manager, Ms. Charlotte Kukunda (R) and another official pose with their awards. Convocation Luncheon, 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Research, Teaching, Students Excellence Awards, Edge Road, Makerere University, Kampala Uganda, East Africa.

Additionally, the best-performing student in the Master of Economics program, Nalweere Alice, received an award from the Economic Policy Research Centre (EPRC). The award included a two-year paid training opportunity with EPRC as a research fellow. Overwhelmed with gratitude, Nalweere expressed her appreciation, saying, “I am deeply honored to receive this award. It is not just a recognition of my hard work but also a motivation to contribute meaningfully to economic research and policy development in Uganda. I thank Makerere University for providing an environment that fosters academic excellence and EPRC for this incredible opportunity.”

Hon. Dr. Joyce Moriku Kaducu presents the EPRC Award to the best-performing student in the Master of Economics program, Nalweere Alice. Convocation Luncheon, 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Research, Teaching, Students Excellence Awards, Edge Road, Makerere University, Kampala Uganda, East Africa.

The graduation luncheon served as a platform to celebrate the institution’s achievements and its unwavering commitment to promoting excellence among its staff and students. The event highlighted Makerere University’s vital role in shaping the academic, research, and professional landscape of Uganda and beyond.

Betty Kyakuwa
Betty Kyakuwa

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CoBAMS Shines at Makerere’s 75th Graduation Ceremony

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Principal CoBAMS-Prof. Edward Bbaale (3rd R) with PhD Graduands from CoBAMS on Day 2. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Freedom Square, Makerere University, Kampala Uganda, East Africa.

The College of Business and Management Sciences (CoBAMS) proudly presented 1,523 graduands on the second day of Makerere University‘s 75th graduation ceremony. Among these, 7 were awarded PhDs, 195 earned master’s degrees, 3 completed postgraduate diplomas, and 1,318 graduated with undergraduate degrees. Female graduands made up 53% of the cohort, with 805 women and 718 men.

Speaking at the event, the Vice Chancellor, Prof. Barnabas Nawangwe, lauded CoBAMS as Makerere’s youngest college but already a beacon of excellence in teaching and research. He noted the College’s pivotal role in linking the University with the government through collaborative projects. Key achievements highlighted include; the Public Investment Management Centre of Excellence (PIM CoE) which was praised for spearheading impactful training programs, building the capacity of officials across various Ministries, Departments, and Agencies. The Environment for Development Centre was recognized for attracting grants totaling approximately USD $400,000. These funds supported capacity-building programs in Inclusive Green Economy for senior public servants, five research projects, policy dialogues, and community outreach activities.

Prof. Edward Bbaale (Centre) with Academic Staff from CoBAMS. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Freedom Square, Makerere University, Kampala Uganda, East Africa.

The vice chancellor also recognized CoBAMS students who excelled in the Joint Facility for Electives (JFE) competition in Nairobi. Ritah Ahumuza, a Master of Arts in Economics student, achieved an outstanding average of 87.5%, the highest in over five years. She was honored with an award by the African Economic Research Consortium for her stellar performance.

Prof. Nawangwe expressed pride in the College’s strides in fostering innovation, academic success, and strategic partnerships, reinforcing Makerere University’s position as a global academic leader.

The Guest of Honour, Hon. Janet Kataaha Museveni, represented by the State Minister for Primary Education, Hon. Joyce Kaducu, congratulated the graduands and acknowledged the parents for their sacrifices. She urged the students to be proactive contributors to Uganda’s development. “Go into the world and light a candle. Start humbly, face the future with courage, and create jobs rather than dispersing them,” she said.

Masters Graduands stand as their names are read on Day 2. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Freedom Square, Makerere University, Kampala Uganda, East Africa.

During the week-long graduation ceremony, 13,658 graduands will receive their awards, including 143 PhDs, 1,813 master’s degrees, 11,454 bachelor’s degrees, and 243 postgraduate diplomas. Of these, 53% are female, and 44% of the PhD recipients are women. The Vice Chancellor noted these statistics as evidence of Makerere’s progress toward gender equity and research-led growth.

Prof. Nawangwe lauded the Government of Uganda’s support through initiatives like the Makerere University Research and Innovation Fund (Mak-RIF), which has enabled cutting-edge research.

Future Direction

The Chancellor, Hon. Dr. Kiyonga, outlined Makerere’s vision for expanding its community outreach and commercialization of research innovations. He proposed strengthening partnerships with private-sector investors to turn academic ideas into viable businesses. Dr. Kiyonga also encouraged the graduands to apply their skills to create opportunities in agriculture, education, and other sectors.

Masters Graduands from CoBAMS follow proceedings. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Freedom Square, Makerere University, Kampala Uganda, East Africa.

As Makerere celebrates its legacy as a beacon of higher education, CoBAMS exemplifies the transformative impact of education in transforming the economy. The achievements celebrated today reflect the university’s dedication to empowering individuals and fostering national development.

The Academic Procession on Day 2. 75th Graduation Ceremony, Day 2, CoBAMS, CHS and CoNAS. 14th January 2025, Freedom Square, Makerere University, Kampala Uganda, East Africa.

Betty Kyakuwa
Betty Kyakuwa

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