Determinants of saving and credit access in Bugembe town council, Uganda.

R. Watsemwa¹ , R. Kabumbuli² , S. Mirembe³

Section:Research Paper, Product Type: Journal-Paper
Vol.8 , Issue.4 , pp.87-95, Apr-2022

Online published on Apr 30, 2022

Copyright © R. Watsemwa, R. Kabumbuli, S. Mirembe . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
The study aimed at examining the determinants of savings and credit access in Bugembe town council. This is a cross sectional study that used quantitative approaches to collect data from both men and women aged 18 years and above. Data analysis was done at both univariate and bivariate levels using SPSS. Study results showed that financial literacy and occupation were significantly associated with access to credit. Gender of respondents, financial literacy, household headship, and marital status were significantly associated with savings. Conclusively financial literacy being a significant factor for both savings and credit access, there is need for both the public and private stakeholders to provide financial literacy trainings to the people in the country especially those in the rural and remote areas so that people get more informed about the various financial related services, learn basic financial related skills and be able to make the right financial decisions.

Key-Words / Index Term :
Saving, credit access, Uganda, Financial Literacy

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