Ugandans urged to save for environmental conservation

As the country commemorates the World Savings Day today, Ugandans are urged to include in their savings goals preserving the environment to combat climate risks.

According to the central bank deputy governor, Micheal Atingi-Ego, aligning savings with specific goals optimizes the intended impact.

The Financial Capability Survey 2020, revealed that only 21% of Uganda’s savers link their savings with specific goals.

Atingi-ego thus advises Ugandans not to wait to accumulate huge sums of money, but rather start small and grow their savings.

He explains that with increasing monetization of the economy, higher national savings will facilitate the financing of green investments for sustainability.

Gorreti Massade, the CEO of Uganda Institute of Banking and Financial Services says by being green and protecting the environment, Ugandans can save a lot.

She has challenged members of the public to take simple steps like substituting polythene bags for fibre-made bags locally known as “Bikapu”.

Gorreti Massade, the CEO of Uganda Institute of Banking and Financial Services. PHOTO/Juliet Nalwooga

The campaign is held under the theme; “Anyone can, Grow Smart. Grow Big. Be Green Smart”.

The Bank of Uganda, Institute of Banking and Financial Services, Uganda Bankers’ Association and other partners have planned several activities to promote a saving culture mindful of the environment.

Written by Juliet Nalwooga