BOU starts equipping Karamoja leaders with financial management skills

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Bank of Uganda has kicked off a financial literacy training among Karimojong leaders in Moroto district.

The training, includes parish chiefs, community development officers and the business community. Others are religious leaders, teachers, Savings and Credit Co-operative Organisations and co-operatives.

Speaking at the opening of the five-day training on June 23, 2025, at Leslona Hotel in Moroto town, George Ssonko, the team leader, said the intervention will provide an opportunity to empower the group with tools and skills in financial management.

He added that the training will foster financial stability for families, individuals and the community at large.

“The more we gain the skills, the more improvement in financial health,” Ssonko said. It is also expected to facilitate individuals, households and businesses to make informed financial decisions.

He further said in an increasingly complex financial world, basic knowledge about saving, budgeting, borrowing and investing is important in avoiding financial fraud.

However, Ssonko said many Ugandans in rural areas like Karamoja region have had limited access to financial education.

“Thus, this has hindered the ability to take full advantage of financial services,” he noted, adding that in many cases it has left them vulnerable to exploitation and poor financial services.

The group will be taken through several modules that range from taking loans, digital financial literacy, future retirement/old age, insurance benefits overall financial management skills.