BY PHILLIP NABWISO
In a move to boost Uganda’s economy, especially with the envisaged target of achieving middle-income status by 2020, the government recently rolled out the 2017-2022 National Financial Inclusion Strategy (NFIS). This ambitious plan was unveiled at the end of October during at an event held at the Bank of Uganda (BoU) head officers.
This development came at the back of growing discontent and scepticism amongst different stakeholders on the feasibility of Uganda achieving the middle-income status by 2020, coupled with financial inclusion deficiencies witnessed across the country with majority of the adult populace unbanked.
But now, the government believes that NFIS is one way of addressing both financial inclusion challenges and boosting the attainment of middle income status by 2020.
The NFIS is being driven by the Ministry of Finance Planning and Economic Development and BoU, supported through a multi-stakeholder consultative process consisting of both the private and public sectors plus international development partners.
“The financial inclusion strategy is taking a pyramid shape which is aimed at serving all Ugandans in their respective capacity from household level to uplift their livelihood,