Uganda, April 12 -- About 60 percent of Ugandans are saving formally and informally, according to a 2023Finscope survey. This is a 6 percent increase, up from 54 percent in 2028, meaning Ugandans are more conscious of saving than they were four years ago.

The 2023 FinScope result indicates most Ugandans still save to cover living expenses but there is a shift towards productive investments such as real estate development, business, and agriculture.

Breaking down the main purpose of saving in Uganda, the 2023 FinScope report indicates that those who save to help with regular expenses at 39 percent compared to 37 percent in the FinScope of 2018.

Unfortunately, the percentage of those who save to cope with unexpected expenses dropped to 1...