Financial Health —From Earnings to Sustainability
The Uganda Institute of Banking and Financial Services (UIBFS), in collaboration with the Bank of Uganda (BoU) and Uganda Bankers’ Association (UBA), today launched the 6th season of the Banking and Financial Services Awareness Campaign (BAFSAC), dubbed Planned Adult under the theme “Financial Health —From Earnings to Sustainability,” with the tagline at Mestil Hotel, coinciding with World Savings Day to promote sustainable financial behaviours across Uganda.
The 7-month campaign will focus on seven key pillars: planning, saving, investment, responsible borrowing, insurance, retirement planning, and digital finance.
The campaign, targeting UIBFS management and staff, the Uganda Bankers Association, and the general public, aims to drive behaviourchange towards adopting all available industry services for financial sustainability, integrating Environmental, Social, and Governance (ESG) principles and selected Sustainable Development Goals (SDGs) like SDG 1 (No Poverty), SDG 8 (Decent Work and Economic Growth), and SDG 13 (Climate Action).
As part of the BAFSAC/“Planned Adult” financial literacy campaign,the initiative aims to urge Ugandans to start transitioning from a focus on “money today” to “money today and tomorrow,” under the broader campaign theme “Financial Health—From Earnings to Sustainability.”
The campaign will, amongst others, encourage individuals to plan before earning, save responsibly, and adopt sustainable habits like reducing waste in the environment through reusing and recycling.
Campaign Summary
Banking institutions, on the other hand, will be encouraged to align their earnings and expenditures with a focus on People, Planet, Profit (PPP) through green lending, sustainable operations, and corporate social responsibility.
Picture moments at the event.
During the launch, Mrs. Goretti Masadde, Chief Executive Officer of UIBFS, spoke of the importance of the campaign: “This year’s BAFSAC campaign, dubbed the ‘Planned Adult’ campaign, is a strategic call to empower Ugandans with the knowledge and tools for long-term financial resilience, ensuring that every financial decision contributes to personal, institutional, and global sustainability.”
Uganda faces significant challenges and opportunities for achieving financial resilience and sustainability among its population and institutions. The FinScope Uganda 2023 survey, conducted by Financial Sector Deepening Uganda (FSD Uganda) in partnership with the Bank of Uganda (BoU) and other stakeholders, revealed persistent challenges like low awareness of green growth (only 28%) and a 10% increase in money-tracking habits since 2018.
The report, which provided a nationally representative snapshot of financial behaviours, needs, and inclusion among adults aged 16 and above, revealed that 7 out of 10 Ugandans suffered from budget deficits,while 9 out of 10 Ugandans were not sure how they will handle or come to terms with unexpected events from a financial point of view.
In contrast, the Global Findex 2024 from the World Bank’s 2021 wave highlighted broader access trends, such as only 54% of Ugandans having formal savings accounts and a paltry 26% of Ugandans having deposit accounts (excluding mobile money).
The report also showed a 17% growth in mobile money savings from June 2024 to June 2025, which largely underscored Uganda’s reliance on informal and digital channels amid rising mobile ownership but persistent urban-rural and gender disparities.
National Financial Inclusion Strategy (2023-2028)
Addressing stakeholders at the event, Board Chair, Mr. Michael K. Mugabi, who is also the MD of Housing Finance Bank, further highlighted the importance of the campaign in light of addressing some of the issues in the two reports as well as Bou’s 2025 position on financial wellness, emphasizing accelerating inclusion through the National Financial Inclusion Strategy (2023-2028) that focuses on fintech integration, ESG-aligned products, and behaviour change to reduce poverty risks and boost economic resilience, aligning with SDGs like 1 (No Poverty) and 8 (Decent Work).
“Today’s launch, under the theme “Financial Health: From Earnings to Sustainability,” could not be more timely. It challenges us—both as individuals and institutions—to think deeply about what true financial sustainability means in our current economic environment,” he said.
Mr. Philip Andrew Wabulya the Executive Director of Risk and Strategy at BoU represented the Governor BoU Mr. Michael Atingi-Ego during the World Saving’s Day commemoration and launch of the 2025 Banking and Financial Services Awareness Campaign. In his remarks he shared that the campaign is an essential drive as it brings together key-sector players in one room to advance financial inclusion within the country.
He emphasized the need to amplify the savings culture among Ugandans quoting the FinScope survey that concluded 70% of Ugandans spend more than they earn.
“Building financial stability starts with careful planning, regular saving, and using modern financial services effectively ensuring money is managed safely, conveniently, and securely,” he said.
During the launch, panel discussions involving representatives from BoU, CMA, DPF, URBRA, ITC, aBi, MofPED and UIBFS dove deep into the topic “Regulation: Applying a Lens on the Institutional Contribution from Earnings to Sustainability.”
Picture moments at the event.
Ms. Justine Namata from BoU emphasized that empowering consumers through financial literacy and ensuring transparency within institutions is essential for a stable financial ecosystem.
Dr. Julia Clare Olima-CEO DPF highlighted how the Deposit Protection Fund builds public confidence by safeguarding depositors’ money and promoting trust in the banking system.
Mr. Denis Kizito of CMA reminded participants that saving is only the first step — true financial growth comes when we invest wisely.
Ms. Daisy Linda Nabakooza from URBRA underscored the need for customized financial solutions for low-income women to help them achieve financial security and independence. Finally, Mr. Samuel from the Insurance Training College noted that sustainability in insurance lies in creating products that protect people and businesses today without compromising their future.
Campaign Uniting all Sector Players in Banking and Finance
This year’s Banking and Financial Services Awareness Campaign is the 6th of its kind, uniting all sector players in the banking and finance fraternity to join hands and promote financial inclusion within the country. During last year’s 5th season, under the theme “Save Protect Grow,” the campaign was able to train 13 institutions, 11 schools, and 25,300 market vendors to practice healthy financial habits that can allow them to grow their wealth. This outcome was achieved in partnership with 8 institutions: 2 insurance bodies, 4 banking institutions, and 2 developmental partners, namely, Uganda Insurance Association, Insurance Regulatory Authority, KCB Bank, Bank of Baroda, Cairo Bank, Housing Finance Bank, Deposit Protection Fund and aBi Finance.
The internationally commemorated World Savings Day, originally established in 1924 in Milan, Italy, by Professor Filippo Ravizza, iscelebrated this year under the theme “Saving: protection, inclusion, and development”; the theme, in unison with the campaign launch,underscored how small financial actions lead to significant economic and environmental benefits.
The launch was attended by media, stakeholders from the banking and financial services sector and industry in Uganda, as well as officials and staff from the Uganda Institute of Banking and Financial Services (UIBFS), Bank of Uganda (BoU), and Uganda Bankers’ Association (UBA).