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September 16, 2025International journal of research and scientific innovation

Financial Literacy or Financial Inclusion? Which is Which, What is What—To Achieve Uganda’s 10-Fold Economic Growth By 2040

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Authors

WDWilliam David

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Overview

Conceptual reflection explores financial literacy's role in enhancing financial inclusion and economic growth in Uganda.

Key Points

  • Financial literacy is crucial for achieving economic growth, with over 60% of Ugandans using mobile money.
  • Access to formal financial services improved from 33% in 2018 to 42% in 2023, highlighting a growing inclusion.
  • Despite this access, nearly 60% of the population lacks basic financial knowledge, limiting effective use.
  • Education and collaboration between sectors are essential for integrating financial literacy into national plans.

Cite This Study

William David (2025) studied this question.

synapsesocial.com/papers/68d454d131b076d99fa5a5f9https://doi.org/10.51244/ijrsi.2025.120800144
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