Business & Management
Empowering Rural Women Through Financial Literacy: A Spotlight on the FAAL Project
Published
12 months agoon

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.

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.

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:
- 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.
- 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.
- 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:
- Continuous Training Programs: Implement ongoing financial literacy training to sustain and build upon the skills acquired by the women.
- Community-Level Financial Literacy Curriculum: Introduce a structured financial literacy curriculum at the community level to ensure consistent and comprehensive education.
- Community Sensitization: Raise awareness about government initiatives related to financial literacy and empowerment to enhance community engagement and participation.
- 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.

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.
You may like
-
NEC Hands Over Refurbished Mary Stuart Hall to Mak
-
Prof. Edward Bbaale endorses newly founded Mak-CoBAMS SACCO
-
Secondary School Administrators Urged to Champion Competence-Based Curriculum in Science Subjects
-
EfD-Mak Holds 2nd Advisory Board Meeting: Charts Path for Growth
-
Launching The MakGAP
-
Advert: Postgraduate Admissions 2025/26
Business & Management
Prof. Edward Bbaale endorses newly founded Mak-CoBAMS SACCO
Published
3 days agoon
July 24, 2025
By Ritah Namisango and Monica Meeme
On Tuesday 22nd July 2025, Prof. Edward Bbaale, the Principal of the College of Business and Management Sciences (CoBAMS) endorsed the newly-established College SACCO by enrolling as a member.
The Mak-CoBAMS SACCO, which was inaugurated on 14th July 2025, provides a platform to improve the economic well-being and quality of life of members through accessible financial services, provision of affordable loans, promotion of a savings and investment culture, financial security, and potential dividends.
The interim Committee that was instituted to kick-start the SACCO has been working under the guidance of the Deputy Principal, Associate Prof. James Wokadala as Patron.
Tasked with finalizing the operations of the SACCO, the Interim Committee, chaired by Dr. Peter Babyenda consists of the following members: Dr. Allen Kabagenyi-Vice Chairperson, Dr. Christopher Alioni-General Secretary, Mr. Peter Mubiru-Treasurer, and Mrs. Juliet Mirembe Ssewankambo-Mobilizer. The Committee members representing the three schools include: Mr. Fred Kasarirwe-School of Economics, Dr. Marion Nanyanzi-School of Business, and Dr. Hellen Namawejje-School of Statistics and Planning. Mr. Joseph Ikarok represents support staff on the SACCO.

As the SACCO kicks off, the Committee agreed on the following contributions: Membership fee of 20,000/=, Annual subscription fee of 30,000/=, a minimum of ten shares at 100,000/= per member, and a minimum monthly contribution of 50,000/=.
The Committee believes that the rates set are manageable by members of staff. According to the Chairperson, Dr. Babyenda, the Committee is enrolling members. He stated that the minimum monthly saving of 50,000/= is a priority, and also called upon each member to pay up the minimum 10 shares before 31st July 2025.
Congratulating the College Principal, Prof. Bbaale upon becoming a member of the Mak-CoBAMS SACCO, the interim General Secretary-Dr. Alioni, reported that they need at least 30 members to start operations.
Following his enrollment as a Member, Prof. Bbaale, lauded the team for the establishment of the SACCO, a long-awaited intervention that will provide financial support to staff members. He thanked Associate Prof. James Wokadala for his resilience and dedication to making this initiative a reality.
Prof. Bbaale explained that the SACCO is well-aligned with the college’s research and academic programs, which focus on business, economics, statistics and planning.He highlighted the critical need for accessible finance, citing it as one of the leading constraints to development and business growth. The SACCO will fill a significant gap by providing staff members with financial support at reasonable interest rates.

Prof. Bbaale believes that the SACCO will transcend his tenure and become a lasting legacy for the college, providing benefits to staff members for years to come. He commended the interim committee for their hard work and commitment to establishing the SACCO. He expressed confidence in the team’s ability to manage the SACCO effectively, citing their strong work ethic and dedication.
Pledging his full support towards the SACCO, Prof. Bbaale rallied members of staff to join the initiative and participate in its activities and programmes. He stated that the SACCO will have a positive impact on the college community, addressing financial constraints and improving the well-being of staff.
The Deputy Principal, Associate Prof. Wokadala, acknowledged the College Principal for hosting the meeting and guiding the process leading to the establishment of the SACCO. He noted that the SACCO is a long-standing dream of the college’s formulators and a game-changer for the institution. To this end, the College Board unanimously welcomed the idea and set up an interim committee to oversee its implementation.
Associate Prof. Wokadala commended the colleagues who volunteered to steer the initiative, expressing confidence that the SACCO would become vibrant and successful. He visualised the SACCO evolving into a microfinance institution or bank with member support.
The Deputy Principal reported that the Principal’s office provided a contribution of 3,000,000/= to kick-start the SACCO’s activities, which would be accounted for by the committee. He emphasized transparency and accountability in managing the funds, noting that the committee would account for every shilling received, and present a report to the Annual General Meeting (AGM).
Business & Management
EfD-Mak Holds 2nd Advisory Board Meeting: Charts Path for Growth
Published
1 week agoon
July 18, 2025By
Jane Anyango
KAMPALA, Uganda | July 16, 2025. The Director of the Environment for Development Initiative–Makerere University Centre (EfD-Mak), Prof. Edward Bbaale, outlined key achievements, challenges, and future plans during the 2nd Advisory Board Meeting held at Makerere University with members calling for expanded scope and sustainable funding for the center’s activities.
The Advisory Board comprises 13 members drawn from Makerere University, government ministries and agencies, civil society, and the private sector. The Board’s role is to provide oversight and strategic guidance to EfD-Mak.

The EfD-Mak Centre is part of the global Environment for Development (EfD) network, comprising 15 research centers worldwide. It aims to promote evidence-based environmental policy through interdisciplinary research, academic training, and stakeholder engagement.
Addressing the board, Prof. Bbaale highlighted the center’s progress since its inception in 2019, including impactful policy engagement, capacity-building programs, and pioneering research in environmental economics.

“Our journey started in Vietnam when Makerere University was formally admitted into the EfD network. Since then, we’ve worked toward a mission of promoting inclusive growth and environmental sustainability,” said Prof. Bbaale.
Chaired by Prof. Buyinza Mukadasi, Makerere’s Academic Registrar and Acting Deputy Vice Chancellor (Academic Affairs), the meeting also welcomed the new Deputy Director of EfD-Mak, Dr. Alice Turinawe, who replaces Prof. Johnny Mugisha.

Prof. Bbaale reported significant growth in research output, including over 150 publications and collaborations with national and international bodies such as the National Environment Management Authority (NEMA), the National Planning Authority, and the Ministry of Finance. The center is currently implementing projects on forestry, climate finance, and sustainable agriculture with partners across Uganda and the wider EfD global network.
The center’s interdisciplinary approach, drawing researchers from the Colleges of Business and Agricultural Sciences, was praised for its alignment with Makerere’s research strategy.

Notably, the center has launched a new Master’s in Economic Investment Modeling, designed to integrate climate variables and natural capital into macroeconomic frameworks. “This is a timely addition as the world looks for tools to understand the economic impact of climate change,” said Bbaale.
The center has intensified policy engagements through dialogues and training programs for government officials, focusing on environmental valuation, energy transitions, and macroeconomic modeling. The Inclusive Green Economy (IGE) program, funded by SIDA, has trained senior policymakers across East Africa on sustainable finance and green transition strategies.

EfD-Mak also played a role in shaping Uganda’s National Development Plan IV, with several fellows contributing to mainstreaming environmental concerns such as clean cooking and e-mobility.
“We were proud to be recognized as a runner-up globally for policy influence on clean cooking,” Bbaale noted, adding that Makerere’s visibility within the EfD network and international platforms continues to grow.

Despite the progress, Prof. Bbaale cautioned against over-reliance on a single funder, the Swedish International Development Cooperation Agency (SIDA), stating that diversified funding is essential for sustainability.
“While SIDA remains our main supporter, we recognize that this model is not sustainable in the long term,” he said, urging the board to support efforts to secure institutional status for the center within the university’s research policy framework.

For 2025, EfD-Mak will focus on climate-smart agriculture as a thematic policy dialogue and strengthen its footprint in local government engagement. A grant targeting environmental valuation at the local level and a new project on macroeconomic modeling for climate resilience are expected to launch.
Prof. Bbaale also cited a clean audit and positive external evaluation as indicators of the center’s strong governance and operational efficiency.

Quoting Pope Francis, he closed with a warning on the urgency of environmental action: “God always forgives. Men sometimes forgive. But nature never forgives.”
Board Chairperson Calls for Stronger Alignment with SDGs and Inclusivity in Research Programs
Prof. Buyinza Mukadasi, Chairperson of the Advisory Board called for deeper integration of the Sustainable Development Goals (SDGs), inclusivity, and results-based reporting in the Centre’s research and academic programs.
Prof. Buyinza congratulated the EfD-Mak team led by Director Prof. Edward Bbaale on their notable achievements across academic training, research, and policy engagement.
“We want to congratulate you and your entire team for all the academic and impact achievements you have made,” Prof. Buyinza said. “You can clearly see the success at the academic training level, at the research level, and policy engagement. These are strong pillars of your program.”
However, the Chairperson emphasized the need to explicitly link the Centre’s work to Uganda’s national development agenda and global frameworks.
“What we want to see more of in future presentations is a clear connection to the Sustainable Development Goals,” he said. “Any investment going into research or human capital development must be traceable to the SDGs and the National Development Plan. This is essential, especially when responding to expectations from institutions like the National Planning Authority.”

Prof. Buyinza also urged the Centre to enhance inclusivity in its fellowship and research programs by targeting underrepresented groups, including students and researchers with special needs.
“You are doing well with your agenda and research priorities, but now it is time to move further toward inclusivity,” he said. “Let’s also see data on gender representation and the involvement of individuals with special needs. That would reflect equitable capacity development.”
He applauded the Centre’s results-based management approach and its focus on tangible outcomes. “I’m happy you did not dwell on challenges,” he added. “It shows maturity and strategic focus.”
Prof. Buyinza concluded by inviting reflections from other board members on areas where the Centre could improve, encouraging a collaborative approach to continuous development.
Board Members Call for Stronger Private Sector Links, Local Engagement, and Global Positioning for EfD-Mak Centre
Members of the Advisory Board for the Environment for Development Initiative praised the Centre’s achievements in research and policy influence but called for greater integration with the private sector, deeper engagement with local development initiatives, and enhanced visibility on the global stage.
Several board members shared constructive feedback following a presentation by the Centre’s Director, Prof. Edward Bbaale, outlining the Centre’s milestones and strategic direction.

Julius Byaruhanga representing the Private Sector Foundation Uganda (PSFU), applauded the Centre for bridging the gap between academia and policymaking but urged for a similar approach with the private sector.
“Much of the research generated in academia doesn’t speak to private sector investment,” Byaruhanga said. “We need partnerships that show how climate and energy research can guide private sector financing, especially around energy efficiency.”
He proposed collaboration between EfD-Mak and PSFU in energy efficiency and policy advocacy, noting PSFU’s experience with several donor-funded projects and its role as the apex body influencing government policy on behalf of the business community.

Onesmus Mugyenyi, from acivil society organisation, emphasized the need for coordination among actors working on similar thematic issues, especially in policy advocacy.
“When we don’t coordinate, we duplicate efforts and end up with incomplete or stuck projects,” Mugyenyi said. “Mapping stakeholders and integrating practitioners into training would greatly enhance both policy impact and student learning.”
He also stressed sustainability and advised leveraging the Board’s networks to support resource diversification and long-term institutionalisation of the Centre’s initiatives.

Dr. Sam Mugume, representing the Ministry of Finance, recognized the Centre’s contribution to national capacity building, particularly in climate finance and macroeconomic modeling.
“You’re doing important work,” Mugume said. “But we now need to scale up and integrate your training and modeling capacity into broader macroeconomic planning for climate resilience, both nationally and at the African continental level.”
He noted the Ministry’s current engagement with a coalition of African finance ministers on climate action, urging the Centre to establish itself as a key academic partner in that process.

Apollo Kagwa, from the National Planning Authority (NPA), commended the Centre for its academic rigor but highlighted the need for grassroots relevance.
“EfD-Mak still operates at a high level,” Kagwa observed. “We need to bring its research down to address real issues in communities—how does it inform programs like the Parish Development Model (PDM)?”

He proposed the Centre tap into government consultancy opportunities and leverage alumni networks to generate internal revenue. Kagwa also encouraged participation in global climate policy spaces, such as the upcoming COP meeting in Brazil, and to develop capacity in climate economics.
Chairperson Prof. Buyinza Mukadasi welcomed the feedback and praised board members for offering actionable insights.

“These are excellent observations,” Prof. Buyinza said. “The next phase must involve deepening our links with the private sector, coordinating better with government and civil society actors, and preparing to expand our impact from local to global levels.”
Jane Anyango is the Communication Officer EfD Uganda.
Business & Management
Makerere’s PIM Centre Concludes Training on Certificate of Financial Implications (CFI)
Published
2 weeks agoon
July 12, 2025
July 11, 2025 | Jinja, Uganda
The Public Investment Management (PIM) Centre of Excellence at Makerere University successfully concluded a two-week training on the Certificate of Financial Implications (CFI) – Integrated Regulatory Cost-Benefit Analysis, equipping 34 economists from various Ministries, Departments, and Agencies (MDAs) with critical policy evaluation and fiscal analysis skills.
The closing ceremony, held at the Pearl on the Nile Hotel in Jinja on July 11, 2025, marked a significant milestone in Uganda’s public finance management reform agenda. Participants received certificates in recognition of their commitment and newly acquired competencies under the revised Guidelines for Financial Clearance, which took effect on July 1, 2025.
Commissioner Paul Mwanja, who represented the Permanent Secretary and Secretary to the Treasury, officiated the ceremony. In his remarks, he commended participants for their dedication despite the demanding timing, coinciding with the financial year-end and the launch of the Fourth National Development Plan (NDP IV). He emphasized that the training comes at a critical moment as Uganda enters a growth-focused fiscal year and prepares for the 2026 general elections.

“The Revised Guidelines for Financial Clearance mark a paradigm shift towards a more data-driven, transparent, and inclusive approach to policy and legislative evaluation,” Mwanja stated. “You are the first wave of reformers. Go back as champions, create demand for quality analysis, and drive the change we want to see.”
The CFI training was designed to deepen participants’ ability to assess the financial and economic implications of government proposals, identify potential winners and losers, and design safeguards for vulnerable groups. It also aims to strengthen MDAs’ capacity to prepare their own Statements of Financial Implications and align with Regulatory Impact Assessments.
Representing the PIM Centre, Prof. Ibrahim Mike Okumu, Dean of the School of Economics at Makerere University, lauded the Ministry of Finance, Planning and Economic Development (MoFPED) for its foresight in establishing the Centre in 2023. He described the training as a powerful response to Uganda’s triple policy challenge: scale, scarcity, and speed.

“This certificate program doesn’t just teach you to ask if a project is beneficial,” Prof. Okumu said. “It trains you to assess whether it is beneficial, affordable, and resilient in real-world fiscal contexts. That is how we build trust in public spending and deliver smarter infrastructure, services, and jobs.”
Prof. Okumu also charged graduates to apply their skills at project, portfolio, and policy levels—prioritizing value for money, institutionalizing evidence-based decision-making, and mentoring future cohorts. “Go forth and make every shilling count,” he concluded.
The Ministry announced that the next CFI training cohort will commence in August 2025, as part of a nationwide rollout to ensure all government institutions are staffed with analysts capable of implementing these reforms. The long-term goal is to establish a government-wide foundation of professionals committed to fiscal discipline, data integrity, and evidence-based policymaking.
The event closed with optimism and a renewed commitment to strengthening Uganda’s public finance systems through knowledge, rigor, and reform-minded leadership.
Trending
-
General2 weeks ago
Makerere University Fees Waiver for 40 First Year Female Students 2025/2026
-
General1 week ago
Celebrating the Life of Prof. Livingstone Sserwadda Luboobi
-
General2 weeks ago
Korean Language Courses-Semester
-
General1 week ago
Simplicity, Service & Scholarship: Hallmarks of Professor Livingstone Luboobi’s Legacy
-
General2 weeks ago
Strengthening Grants Management Through Institutional Collaboration and Capacity Building