Ultimate Media

The Minister of Uganda for Finance, Hajjati Syda Bumba has said the poor saving culture is one of the leading causes of poverty in Uganda.

She says the saving culture of some homesteads in Uganda is less than 10% a year. Bbumba says the statistics at the Ministry of Finance shows that the average saving rate of individual Ugandans stands at 6.2% below the minimum savings required for a family to eradicate poverty.

Bumba says the saving rate of most Ugandans is not sufficient enough to fight poverty and drive the country to the desired development.

She says unless the people of Uganda improve on their saving culture most people at the household level are going to remain poor.

The Minister says whereas the government of Uganda has good policies towards poverty eradication, poor saving culture among Ugandans remains the main roadblock in the fight against poverty in Uganda.