Minister Musherure Hails Rise in Financial Inclusion as Ministry, Parliament Hold Budgeting Retreat

What the report says

Minister of State for Finance, Planning and Economic Development in charge of Microfinance, Shartsi K. Musherure, has urged closer cooperation between the executive and Parliament as Uganda moves into a new budgeting cycle. According to Watchdog Uganda, she made the remarks at a two-day budgeting retreat at Speke Resort Munyonyo that brought together finance ministry officials and members of the parliamentary committees on Finance, National Economy, and the National Budget.

Musherure said the meeting was meant to improve coordination and align the roles of both arms of government ahead of budget preparation. She also pointed to progress in financial inclusion, saying access to formal financial services has increased substantially over the years. The report says she linked that improvement to the spread of mobile money, SACCOs, and village savings and loan associations.

The minister, however, cautioned that wider access to finance needs to be matched by stronger oversight, consumer protection, and better governance. She singled out the fast-growing digital lending space as an area needing clearer regulation and tighter supervision. The article also says she called for continued legislative and budget support to strengthen the microfinance sector.

Musherure further highlighted government programmes such as the Parish Development Model and Emyooga, describing them as important sources of affordable capital for communities. She said future attention should focus on sustainability, monitoring, loan recovery, and broader economic transformation.