Uganda: Bank of Uganda to Hold Kabale Townhall On Economy, Financial Inclusion

Bank of Uganda is set to meet residents and stakeholders in Kabale District for a townhall meeting aimed at explaining the Central Bank's role in managing the economy and strengthening public understanding of financial services.

The meeting, which will take place in Kabale Municipality, forms part of the Bank's ongoing public engagement programme intended to promote socio-economic transformation in the Kigezi sub-region.

Business leaders, SACCO representatives, traders, farmers, youth groups, local leaders and members of the public are expected to attend the engagement.

Participants will have an opportunity to interact directly with Bank of Uganda officials on issues affecting households, businesses and the wider economy.

Discussions during the townhall will focus on treasury bills and bonds, inflation, interest rates, financial inclusion, currency management and the Central Bank's role in regulating financial institutions.

Residents will also receive information on financing opportunities available through the Small Business Fund and the Agricultural Credit Facility.

According to Jonah Waiswa, the townhall meeting is intended to deepen public understanding of the Bank's mandate to maintain price stability, protect the value of the Uganda shilling and promote a sound financial system.

"Participants will receive guidance on consumer protection, including how to identify licensed financial institutions, report fraud, replace mutilated banknotes and understand available financial products," Waiswa said.

Waiswa added that the engagement will also help the Bank assess whether residents in Kabale understand the government's socio-economic transformation agenda.

"Kabale is well known to be an agriculture-centred district. We are here to understand whether residents appreciate why banking is important even when one is a farmer," he said.

The Kabale townhall is part of a broader national strategy by the Bank of Uganda aimed at improving transparency, building public trust and encouraging informed participation in Uganda's financial and economic systems.

Read the original article on Nile Post.