The Role Of The Media In Promoting Financial Literacy In Uganda: A Case Study Of New Vision News Paper Kampala.

ABSTRACT

The study is about the role of the media in promoting financial literacy in Uganda taking New

Vision as the case study. The study was guided by the following questions- What are causes of

financial literacy among people in Uganda? What are the solutions put forward to reduce financial

literacy in Uganda? Describe the different strategies put forward to fight financial literacy in

Uganda. What are the roles of the media in promoting financial literacy in Uganda?

The population under study comprised of 80 respondents. The study adopted random sampling

technique to determine the sample population size. The data was collected using questionnaires. It

was then edited and analyzed by use of Statistical Package for Social Sciences (SPSS) software

using descriptive statistics indexes such as mean, percentages and frequency distribution method.

The data was presented in the form of tables and figures according to the research questions.

The study recommended that the Governments, donors and financial service providers should

support the scale-up of savings groups, for example by working with mobile companies to develop

enabling technologies such as group pin codes. Governments should recognize, rather than

regulate community savings groups and incorporate them into long-term national financial

inclusion strategies. Governments should work with financial service providers to ensure that

savings groups can access formal financial institutions, as has happened in India where banks are

mandated to open accounts for community savings groups. Banks and microfinance specialists

should use Banking on Change as an example of how to design a viable ‘financial linkage’ model

that can be replicated by other banks and informal savings communities. This should be supported

and promoted by donors and international financial institutions.

The researcher suggests further research on evaluation of the television in elimination of financial

literacy. In addition, future researchers can look at the role of radios in the promotion of banks against financial literacy.