Ugandans love to live in the moment and this usually means that they save very little off their monthly earning. Mark Keith Muhumuza, a staff reporter with The Daily Monitor, points outs alternative ways Ugandan can save without using the traditional banking options.
Uganda still has a high dependency ratio of 103 per cent. Retirement planning is also some form of long-term investment that can generate returns when one is out of work.
According to Mr David Nyakundi Bonyi, the CEO, Uganda Retirement Benefits Authority (URBRA), the Uganda market is dominated by the National Social Security Fund (NSSF) that targets people in formal employment and yet there are many more people that the NSSF does not reach.
The article ran in the Daily Monitor on the 22nd March 2017.
On the MiniBuzz, the discussion carried over into the different reasons why as a society it is difficult for Ugandans to save when there are extend family obligations.