Search results

1 – 10 of over 7000
Article
Publication date: 6 March 2024

George Okello Candiya Bongomin, Pierre Yourougou, Rebecca Balinda and Joseph Baleke Yiga Lubega

Currently, consumers of financial products and services have become more vulnerable to predatory financial institutions, especially in the aftermath of Covid-19 pandemic…

Abstract

Purpose

Currently, consumers of financial products and services have become more vulnerable to predatory financial institutions, especially in the aftermath of Covid-19 pandemic. Therefore, financial consumers like the persons with disabilities (PWDs) should be equipped with knowledge and skills to help them to evaluate complex financial products on offer in financial markets, especially in developing countries to avoid being victims of fraudulent lending. The purpose of this study is to establish whether customized financial literacy mediates the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.

Design/methodology/approach

SmartPLS 4.0 was used to construct the measurement and structural equation models to test whether customized financial literacy significantly mediates the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.

Findings

The results revealed a partial mediating effect of customized financial literacy in the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic. Conducting customized financial literacy increases financial consumer protection by 12 percentage points to promote financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.

Research limitations/implications

This study focused only on customized financial literacy and financial consumer protection to promote universal financial inclusion of PWDs’ owned MSMEs post Covid-19 pandemic. Future studies may use data collected from other vulnerable groups amongst the unbanked population in developing countries, Uganda inclusive. In addition, this study also collected only quantitative data from the selected population. Further studies can be conducted using key informant interviews and focused group discussion to get the perceptions of the PWDs on being protected from exploitation by unscrupulous financial institutions.

Practical implications

The findings from this study can help policymakers in developing countries like Uganda to revise the existing consumer protection law to include strong clauses on protection of people with special needs like the PWDs. The law must ensure that they are not exploited by financial institutions because of their conditions. The law ought to make sure that the PWDs are educated about their rights in the financial market place and all information on financial products offered by financial institutions should be simplified and interpreted to them before they make consumption decisions.

Originality/value

To the best of the authors’ knowledge, the present study is amongst the first few studies to provide a meticulous and unique discourse on the ever increasing role of financial literacy combined with consumer protection to reduce consumption risks within the financial markets, especially in developing countries in the aftermath of global pandemic shocks. This study uses the social learning theory, theory of reasoned action and theory of planned behaviour to elucidate how customized financial literacy can enhance consumer protection to increase financial inclusion of groups with special needs like the PWDs who have become more susceptible to exploitation by unscrupulous financial institutions in under-developed financial markets, especially in post Covid-19 pandemic.

Details

Journal of Financial Regulation and Compliance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 20 March 2024

George Okello Candiya Bongomin, Charles Akol Malinga, Alain Manzi Amani and Rebecca Balinda

The main purpose of this study is to test for the interaction effect of digital literacy in the relationship between financial technologies (FinTechs) of biometrics and mobile…

Abstract

Purpose

The main purpose of this study is to test for the interaction effect of digital literacy in the relationship between financial technologies (FinTechs) of biometrics and mobile money and digital financial inclusion among the unbanked poor women, youth and persons with disabilities (PWDs) in rural Uganda.

Design/methodology/approach

Covariance-based structural equation modeling was used to construct the interaction effect using data collected from the unbanked poor women, youth and PWDs located in the four regions in Uganda as prescribed by Hair et al. (2022).

Findings

The findings from this study are threefold: first; the results revealed a positive interaction effect of digital literacy between FinTechs of biometrics and mobile money and digital financial inclusion. Second; the results also confirmed that biometrics identification positively promotes digital financial inclusion. Lastly; the results showed that mobile money positively promotes digital financial inclusion. A combination of FinTechs of biometrics and mobile money together with digital literacy explain 29% variation in digital financial inclusion among the unbanked poor women, youth and PWDs in rural Uganda.

Research limitations/implications

The data for this study were collected mainly from the unbanked poor women, youth and PWDs. Further studies may look at data from other sections of the vulnerable population in under developed financial markets. Additionally, the data for this study were collected only from Uganda as a developing country. Thus, more data may be obtained from other developing countries to draw conclusive and generalized empirical evidence. Besides, the current study used cross sectional design to collect the data. Therefore, future studies may adopt longitudinal research design to investigate the impact of FinTechs on digital financial inclusion in the presence of digital literacy across different time range.

Practical implications

The governments in developing countries like Uganda should support women, youth, PWDs and other equally vulnerable groups, especially in the rural communities to understand and use FinTechs. This can be achieved through digital literacy that can help them to embrace digital financial services and competently navigate and perform digital transactions over digital platforms like mobile money without making errors. Besides, governments in developing countries like Uganda can use this finding to advocate for the design of appropriate digital infrastructures to reach remote areas and ensure “last mile connectivity for digital financial services' users.” The use of off-line solutions can complement the absence or loss of on-line network connectivity for biometrics and mobile money to close the huge digital divide gap in rural areas. This can scale-up access to and use of financial services by the unbanked rural population.

Originality/value

This paper sheds more light on the importance of digital literacy in the ever complex and dynamic global FinTech ecosystem in the presence of rampant cyber risks. To the best of the authors' knowledge, limited studies currently exist that integrate digital literacy as a moderator in the relationship between FinTechs and digital financial inclusion, especially among vulnerable groups in under-developed digital financial markets in developing countries. This is the novelty of the paper with data obtained from the unbanked poor women, youth and PWDs in rural Uganda.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

Keywords

Article
Publication date: 1 March 2000

I.M.N. Kigongo‐Bukenya

The origins of librarianship in Uganda are indicated and the legislation affecting bibliographic control in the country described. Issues are discussed including publishing, a…

2546

Abstract

The origins of librarianship in Uganda are indicated and the legislation affecting bibliographic control in the country described. Issues are discussed including publishing, a national library and national bibliographic agency, information technology, education and standards. Factors affecting the current state of bibliographic control in Uganda are examined and relevant agencies and publications listed. Strategies for further development are put forward and recommendations made.

Details

Library Review, vol. 49 no. 2
Type: Research Article
ISSN: 0024-2535

Keywords

Article
Publication date: 11 October 2018

George Okello Candiya Bongomin, John C. Munene, Joseph Mpeera Ntayi and Charles Akol Malinga

The purpose of this paper is to establish the mediating role of collective action in the relationship between financial intermediation and financial inclusion of the poor in rural…

Abstract

Purpose

The purpose of this paper is to establish the mediating role of collective action in the relationship between financial intermediation and financial inclusion of the poor in rural Uganda.

Design/methodology/approach

The paper uses structural equation modeling (SEM) through bootstrap approach constructed using analysis of moment structures to test for the mediating role of collective action in the relationship between financial intermediation and financial inclusion of the poor in rural Uganda. Besides, the paper adopts Baron and Kenny’s (1986) approach to establish whether conditions for mediation by collective action exist.

Findings

The results revealed that collective action significantly mediates the relationship between financial intermediation and financial inclusion of the poor in rural Uganda. The findings further indicated that the mediated model had better model fit indices than the non-mediated model under SEM bootstrap. Furthermore, the results showed that both collective action and financial intermediation have significant and direct impacts on financial inclusion of the poor in rural Uganda. Therefore, the findings suggest that the presence of collective action boost financial intermediation for improved financial inclusion of the poor in rural Uganda.

Research limitations/implications

The study used quantitative data collected through cross-sectional research design. Further studies through the use of interviews could be adopted in future. Methodologically, the study adopted use of SEM bootstrap approach to establish the mediating effect of collective action. However, it ignored the Sobel’s test and MedGraph methods. Future studies could adopt the use of alternative methods of Sobel’s test and MedGraph. Additionally, the study focused only on semi-formal financial institutions. Hence, further studies may consider the use of data collected from formal and informal institutions.

Practical implications

Policy makers and managers of financial institutions should consider the role of collective action in promoting economic development, especially in developing countries. They should create structures and design financial services and products that promote collective action among the poor in rural Uganda.

Originality/value

Although several scholars have articulated financial inclusion based on both the supply and demand side factors, this is the first study to test the mediating role of collective action in the relationship between financial intermediation and financial inclusion of the poor in rural Uganda using SEM bootstrap approach. Theoretically, the study combines the role of collective action with financial intermediation to promote financial inclusion. Financial intermediation theory ignores the role played by collective action in the intermediation process between the surplus and deficit units.

Details

International Journal of Bank Marketing, vol. 37 no. 1
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 21 January 2022

Juma Bananuka, Stephen Korutaro Nkundabanyanga, Twaha Kigongo Kaawaase, Rachel Katoroogo Mindra and Isaac Newton Kayongo

The purpose of this study is to examine the extent of and impact of gender diversity and intellectual capital on compliance with Global Reporting Initiative (GRI) sustainability…

1702

Abstract

Purpose

The purpose of this study is to examine the extent of and impact of gender diversity and intellectual capital on compliance with Global Reporting Initiative (GRI) sustainability reporting standards by Uganda manufacturing companies.

Design/methodology/approach

Data were collected from manufacturing firms in Uganda using a questionnaire survey to find out their perception of compliance with the GRI standards. Data were analyzed using statistical package for social sciences, Microsoft Excel and smart partial least squares structural equation modeling (PLS–SEM).

Findings

The results indicate that on average, manufacturing firms in Uganda comply with GRI sustainability reporting standards to the extent of 59%. The results further indicate that manufacturing companies comply more with the GRI 200 (economic performance disclosures) to the extent of 63% as compared with 55% for GRI 300 (environmental performance disclosures) and 58% for GRI 400 (social performance disclosures). The results also indicate that intellectual capital has a significant impact on the GRI-based sustainability performance disclosures in Uganda. However, board gender diversity has no significant effect. In terms of the control variables, only firm size is significant, while firm age, capital structure and auditor type are not.

Originality/value

This study provides first time evidence of the extent of compliance with the GRI sustainability reporting standards using evidence from Uganda – an African developing country. This study widens the understanding of the usage of GRI standards in the preparation of sustainability reports by manufacturing firms in an emerging economy. This study also provides first-time evidence on the role of gender diversity and intellectual capital in GRI-based sustainability performance disclosures using evidence from Uganda's manufacturing sector.

Details

Journal of Accounting in Emerging Economies, vol. 12 no. 5
Type: Research Article
ISSN: 2042-1168

Keywords

Article
Publication date: 30 May 2008

Constant Okello‐Obura, M.K. Minishi‐Majanja, Linda Cloete and J.R. Ikoja‐Odongo

This article is a result of part of a doctoral study in the University of South Africa on the topic business information systems (BIS) design for Uganda's economic development…

3662

Abstract

Purpose

This article is a result of part of a doctoral study in the University of South Africa on the topic business information systems (BIS) design for Uganda's economic development: the case of small to medium‐sized enterprises (SMEs) in northern Uganda conducted between 2004 and 2007. The study was conducted to establish the characteristics of the SMEs, business activities, business information needs and recommend the important business information needs required for BIS for poor country or region. It was carried out on the assumption that businesses in northern Uganda are lagging behind because of lack of a BIS that could facilitate efficient and effective business information access. This article aims to discuss this subject.

Design/methodology/approach

The descriptive survey research design was used to collect the required data using structured questionnaires and semi‐structured interview guide. A sample size of 251 SMEs, 75 information providers and 25 business policy makers in northern Uganda were used. Quantitative data obtained were analysed using Epi Info and SPSS while the qualitative data by use of content analysis technique.

Findings

The findings reveal that SMEs in northern Uganda have varying background and are engaged in diverse/varied business activities with varying business information needs that require a multifaceted approach in the provision of business information. The study recommends that a BIS unique to the SMEs in northern Uganda be designed to provide among others business legal information, business technical information, business economic information, business contacts information and business management skills information.

Originality/value

No research has been carried out on the business information activities and needs of SMEs in northern Uganda with a view to design BIS. The findings of the study will help to shape the planning and implementation of strategic interventions to transform northern Uganda using information as a catalyst for development.

Details

Library Management, vol. 29 no. 4/5
Type: Research Article
ISSN: 0143-5124

Keywords

Article
Publication date: 15 August 2016

Sulaiman Lujja, Mustafa Omar Mohammad, Rusni Bt. Hassan and Umar A. Oseni

In 2014, Islamic finance assets are estimated to have exceeded US$2 trillion with over 100 products and an annual growth of over 20.7 per cent, across more than 76 countries, most…

1248

Abstract

Purpose

In 2014, Islamic finance assets are estimated to have exceeded US$2 trillion with over 100 products and an annual growth of over 20.7 per cent, across more than 76 countries, most of which are members of the Organization of Islamic Cooperation (OIC). Despite this remarkable market expansion, numerous OIC members such as Uganda are yet to fully adopt this unique financial system because of regulatory constraints. Thus, the purpose of this paper is to examine the extent to which Uganda can benchmark the Malaysian experience and best practices to overcome the regulatory challenges in introducing Islamic Banking.

Design/methodology/approach

This exploratory study adopts qualitative research methods through documentary review to elicit relevant information from the existing laws in Uganda that would accommodate the Islamic Banking system. Interpretive analysis and analytical methods are used to analyze data.

Findings

The Malaysian experience and best practices of Islamic Banking regulation need to be benchmarked by regulators. Relevant laws which require some amendments include section 37(a) and 38(1) of the Financial Institutions Act 2004 and section 29(3)(a) of the Bank of Uganda Act 2000. Similarly, tax legislation needs amendments to ensure a level playing field for Islamic finance and conventional finance products.

Originality/value

This is one of the earliest studies on models of Islamic Banking regulation suitable for adoption in Uganda. This study contributes to literature on how other jurisdictions (especially those with less regulatory prudence) could regulate Islamic Banking in a dual banking system jurisdiction.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 9 no. 3
Type: Research Article
ISSN: 1753-8394

Keywords

Article
Publication date: 14 May 2018

George Okello Candiya Bongomin, John C. Munene, Joseph Mpeera Ntayi and Charles Akol Malinga

The purpose of this paper is to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion in rural Uganda.

Abstract

Purpose

The purpose of this paper is to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion in rural Uganda.

Design/methodology/approach

The current study used cross-sectional research design and a semi-structured questionnaire was used to collect data for this study. The study applied structural equation modeling through bootstrap approach in AMOS to establish the mediating role of social capital in the relationship between financial intermediation and financial inclusion.

Findings

The results indicated that social capital significantly mediates the relationship between financial intermediation and financial inclusion in rural Uganda. Therefore, it can be deduced that social capital among the poor play an important role in promoting financial intermediation for improved financial inclusion in rural Uganda.

Research limitations/implications

Although the sample was large, it may not be generalized to other segments of the population. Data were collected from only poor households located in rural Uganda. Besides, the study was cross-sectional, thus, limiting efforts in investigating certain characteristics of the sample over time. Perhaps future studies could adopt the use of longitudinal research design.

Practical implications

Financial institutions such as banks should rely on social capital as a substitute for physical collateral in order to promote financial inclusion, especially among the poor in rural Uganda.

Originality/value

This study provides empirical evidence on phenomenon not studied in rural areas in Sub-Saharan Africa where the poor use social capital embedded in customs and norms for doing business. The results highlight the importance of social capital in mediating the relationship between financial intermediation and financial inclusion of the poor in rural Uganda.

Details

International Journal of Social Economics, vol. 45 no. 5
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 1 September 2002

Paul Mpuga

Up to the early 1990s, Uganda’s financial structure was characterised by government controls and instability, leading to financial repression and lack of development in the…

1046

Abstract

Up to the early 1990s, Uganda’s financial structure was characterised by government controls and instability, leading to financial repression and lack of development in the sector. The sector was, as a consequence, dominated by commercial banks, which are mainly concentrated in urban areas. Financial intermediation was restricted to the mobilisation of short‐term savings and advancing credit to low‐risk businesses with quick returns. In 1993, The Bank of Uganda Statute and The Financial Institutions Statute were passed by Parliament, requiring, among other things, commercial banks operating in Uganda to have a minimum paid up capital of Uganda shillings (Ushs) 500,000 (for the locally‐owned banks) and Ushs 1bn (for the foreign‐owned banks). The new capital requirements were made effective from the end of December, 1996. Between 1998 and 1999, however, four commercial banks (three of them locally owned), were closed because of insolvency originating from a number of causes. It is not clear whether the new capital requirements played a part in setting off or precipitating the crisis. The results of this study show that whereas there was impressive improvement for the banking system as a whole, it seems that these new guidelines had a different impact on foreignowned and locally‐owned commercial banks. Performance of the foreign banks remained quite steady or even rapidly improved while the local banks suffered massive declines in their profitability and accumulated more non‐performing loans.

Details

Journal of Financial Regulation and Compliance, vol. 10 no. 3
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 7 August 2018

George Okello Candiya Bongomin, John C. Munene, Joseph Mpeera Ntayi and Charles Akol Malinga

The purpose of this paper is to test for the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda.

Abstract

Purpose

The purpose of this paper is to test for the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda.

Design/methodology/approach

The study employed a cross-sectional research design and data were collected from a total of 400 poor households located in Northern, Eastern, Central and Western Uganda. The authors adopted ordinary least square hierarchical regression analysis to test for the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda. The effects were determined by calculating the significant change in coefficient of determination (R2) between the dimensions of social network in explaining financial inclusion. In addition, analysis of variance was also used to test for variation in perceptions of the poor about being financially included.

Findings

The findings revealed that the dimensions of ties and interaction significantly explain financial inclusion of the poor in rural Uganda. Contrary to previous studies, the results indicated that interdependence as a dimension of social network is not a significant predictor of financial inclusion of the poor in rural Uganda. Combined together, the dimensions of social network explains about 16.6 percent of the variation in financial inclusion of the poor in rural Uganda.

Research limitations/implications

The study was purely cross-sectional, thus, ignoring longitudinal survey design, which could have investigated certain characteristics of the variable over time. Additionally, although a total sample amounting to 400 poor households was used in the study, the results cannot be generalized since other equally marginalized groups such as the disabled persons, refugees, and immigrants were not included in this study. Furthermore, the study used only the questionnaire to elicit responses from the respondents. The use of interview was ignored during data collection.

Practical implications

Policy makers, managers of financial institutions, and financial inclusion advocates should consider social network dimensions of ties and interaction as conduits for information flow and sharing among the poor including the women and youth about scarce financial resources like loans. Advocacy towards creation of societal network that brings the poor together in strong and weak ties is very important in scaling up access to and use of scarce financial services for improving economic and social well-being.

Originality/value

Contrary to previous studies, this particular study test the predictive power of each of the dimensions of social network in explaining financial inclusion of the poor in rural Uganda. Thus, it methodologically isolates the individual contribution of each of the dimensions of social network in explaining financial inclusion of the poor. The authors found that only ties and interaction are significant predictors of financial inclusion of the poor in rural Uganda. Therefore, the findings suggest that not all dimensions of social network are significant predictors of financial inclusion as opposed to previous empirical findings.

Details

African Journal of Economic and Management Studies, vol. 9 no. 3
Type: Research Article
ISSN: 2040-0705

Keywords

1 – 10 of over 7000