Financial Inclusion and Economic Growth in Uganda A case study of selected districts in Western Uganda
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Date
2019
Journal Title
Journal ISSN
Volume Title
Publisher
International Journal of Advances in Scientific Research and Engineering
Abstract
The study was conducted to examine the role of financial inclusion in economic growth basing on selected districts
from western Uganda. The researchers adopted a cross-sectional survey design and both quantitative and qualitative
approaches were used in data collection and analysis. The study used simple random and purposive sampling
techniques to select a total of 194 respondents. The findings revealed that financial inclusion is significant in
supporting economic growth; it upholds equitable distribution of growth benefits, transforms peoples’ way of living,
enhances capital creation and empowers people to go for financial services that are germane to their needs. The study
indicated that Uganda’s population living below the poverty line is falling, which sounds precise in the context of
national income but very unseemly in the context of household income. While there are indicators of reduced
constraints to accessing to working capital, reduced constraints to accessing financial services, effective use of
economic resources to produce goods and services, those in business do not see the efficacy by government agendas
geared to supporting international trade or investment. The study, therefore, recommends that there is a need for the
government to review and redesign her policies on international trade business and support for homegrown
investments. There is a need for quantitative metrics to ascertain the extent to which household income is proportional
to national income. Several papers have recommended government interventions in financial accessibility.
Description
Keywords
Financial Inclusion, Financial Services, Economic Growth, Gross Domestic Product.