Journalists urged to embrace a saving culture

By Sophan Niwamanya

Officials from the Bank of Uganda have today implored journalists in the Kabale district to embrace personal financial management as part of everyday life.

They made the call while at white Horse inn hotel in Kabale municipality, training journalists on the role of the Bank of Uganda in the economy intended at creating an understanding of the Bank of Uganda’s role and mandate in the economy and have a discussion with media on Bank of Uganda’s supervision and regulation of the financial sector.

Ritah Ampaire Byoruganda an economist in the communications department at the Bank of Uganda noted that managing personal finances require someone to have a budget, plan, track, and report costs, and analysis to control income and expenses. Ampaire asked Journalists to ensure a saving culture as a priority, investment, insurance, and budgeting among others to overcome financial challenges in the future.

She cautioned the public to first analyze the terms and conditions before obtaining loans or being the guarantors to those receiving loans.

Jonah Waswa the head of education at the bank of Uganda has attributed the current inflation in the country to Supply chain disruptions by covid-19, the global geopolitical war between Ukraine and Russia, and drought.