Bank of Uganda Hosts Town Hall Meeting in Moroto to Promote Financial Inclusion
The Bank of Uganda held a two-day town hall meeting in Moroto focused on financial literacy and the promotion of financial products and services within the local community. The event brought together representatives from financial service providers such as Centenary Bank, Stanbic Bank, and Post Bank. They showcased a variety of financial products available to the public, aiming to enhance the financial knowledge and accessibility for the residents of Moroto District.
During the meeting, the Governor of the Bank of Uganda, Michael Atingi-Ego cautioned the community against dealing with unlicensed money lenders, emphasizing the risks of exploitation and bankruptcy.
The Governor encouraged the community to utilize licensed financial institutions, which offer safer and more reliable financial services.
He emphasized the need to address the pressing issue of water scarcity in Karamoja, stating, “Water scarcity affects production and productivity, hindering economic growth and development.”
The town hall meeting was part of the Bank of Uganda’s efforts to promote financial inclusion and education in the region. By providing access to financial products and services, the Bank aims to empower the local community to manage their finances effectively and make informed decisions about their economic well-being.
The event also highlighted the importance of financial literacy and the need for communities to be aware of the risks associated with unlicensed money lending. By working together with licensed financial institutions, the Bank of Uganda hopes to create a more financially inclusive and stable environment for the people of Moroto and beyond.
