Central Bank tips pupils on saving

Kampala.

The Bank of Uganda (BoU) has encouraged pupils to embrace the culture of saving so as to inculcate the habit among citizens from a tender age.

“You don’t need to have a lot to save. You can start with the little you have. For you pupils, you don’t have a lot (as you don’t work) but you can save from the little you are given for break time,” Ms Susan Wasagali Kanyemibwa, the Central Bank’s secretary, said.

Ms Wasagali was speaking during the award ceremony for regional winners of the essay competition organised by BoU as one of the activities for its 50th anniversary at Nakasero Primary School in Kampala on Monday.
The nationwide essay competition for pupils of Primary Five and Primary Seven organised in conjunction with Ministry of Education was running under the theme: “Why saving money is good”.

The Central Bank’s golden Jubilee celebrations will be held on August 3. The bank was founded on August 16, 1966.

Ms Wasagali said the completion and the awards was part of the bank’s plan to give back to the community through a project they have dubbed “financial inclusion”. “The pupils who have participated in the essay competition have expressed their prowess in financial literacy and this is part of our financial inclusion project to ensure parents and children can learn more about saving and banking and the essence of money,” she said.

She said during conferences at their regional offices, they found out that many people do not understand the role of the Central Bank.

Ms Juliet Nambi Namuddu, the director of education and social services at Kampala Capital City Authority, who was the chief guest, said the essay competition encourages children to develop their creative, critical and writing skills. She urged schools to make essay writing part of the pupils’ daily activity.

“Essay writing makes learners aware of pertinent issues in the society and they can analyse and adopt innovative techniques for their self-evaluation,” Ms Namuddu said.

The principal of Kabulasoke PTC, Mr Herbert Mukasa, said organising the exercise was challenging since they did not have funds to pay teachers for the extra work of marking the pupils’ scripts.

“There was evidence of teachers helping the pupils to write the essays and some of the schools did not participate. Some complained that the time given to organise the competition was not enough,” Mr Mukasa said.

Mr George Mutekanga, the principal education officer in charge of private schools and institutions, said the fact that most of the winners were from UPE schools shows that the programme is a success.

Among the winners of the essay competition were two physically-impaired girls. One was 13-year-old Saidah Kasubi from Sure Prospect School who uses her toes to write.
Another was Jovia Nabuuma, 13, a blind girl, also from the same school, who uses braille to write.

Other winners

More winners