The Bank of Uganda (BoU) is set to expand its financial literacy campaign to schools, churches, and communities nationwide, aiming to build a stronger saving culture and improve money management skills among Ugandans of all ages.
The initiative, announced by Deputy Governor Prof. Augustus Nuwagaba, forms part of activities marking the central bank’s 60th anniversary. It seeks to equip citizens with knowledge about saving, responsible financial management, and the country’s financial system through a broad coalition of partners.
“We are going to engage schools, churches and other religious institutions. We shall also bring on board commercial banks, insurance companies, fintechs and mobile money institutions so that everyone participates in building a stronger economy,” Prof. Nuwagaba said.
He explained that the campaign was driven by concerns that many Ugandans still have weak saving habits. “The problem we have in Uganda largely is a poor saving culture. By engaging children at that early stage, we are building values of saving, respecting money and investing wisely. As they grow, they become responsible citizens who can make sound financial decisions,” he stated.
The expansion was announced during the judging ceremony of the BoU@60 Primary Schools Poetry Competition held at the Bank’s headquarters in Kampala on July 29, 2026. The competition challenged pupils to write poems on the benefits of saving money, proper handling of Uganda’s currency, and the importance of using regulated financial institutions.
The championship attracted 3,390 entries from pupils across more than 40 districts. Judges shortlisted 192 poems before selecting 22 finalists who performed during the event.
BoU Director of Currency Christine B. Alupo emphasized the importance of teaching children about money at an early age, as financial habits are often formed during childhood.
“Children absorb habits far more easily than adults, and money habits are no exception. At primary level, a child is already handling coins and notes, whether it is break time cash or contributions to a class project, so this is not a distant future skill. It is something they need now,” Alupo said.
She added that helping children understand saving, responsible spending, and proper currency handling would contribute to raising financially responsible citizens. “When children understand the value of money, how to save, how to spend responsibly and how to care for currency, they grow into more financially responsible citizens,” she noted.
Alupo also urged the public to treat currency as a shared national asset, warning against practices that shorten the lifespan of banknotes, such as excessive folding, stapling, writing on them, or exposing them to water, dirt, and excessive heat.
The competition crowned Gibril Rwenzaho of Wakiso Junior School as the overall winner. He received a Shs5 million bursary, while his school was awarded Shs12 million. First runner-up Lenity Manzi of Banyatereza Golden Jubilee Memorial School from Fort Portal received a Shs4 million bursary, and second runner-up Elnathan Tumwebaze of Peak Primary School received a Shs3 million bursary.
BoU will publish the 192 shortlisted poems in an anthology as part of its 60th anniversary celebrations, preserving the children’s creative work and providing schools with a resource to continue promoting financial literacy. The winning poems will also feature in the anthology.
Teachers and parents welcomed the initiative. Alice Nansereko, Headteacher of Luzira Hill Parents School, said the programme had increased children’s interest in understanding money management. Parent Polly Grace Akullu from West Nile noted, “When children begin saving while they are still young, they grow up understanding the value of planning for the future.”
The poetry competition is among activities marking 60 years of the Bank of Uganda, established on August 15, 1966, which continues to play a crucial role in maintaining price stability, supervising the financial sector, and safeguarding the value of the Uganda Shilling.
