Beera Steady Background:
The ‘Beera Steady – Be Better’ campaign recognizes the importance of digital financial services in empowering individuals and communities to achieve financial stability and security. While progress has been made in recent years, with approximately 35% of Ugandan adults having access to financial services such as savings accounts, loans, and insurance, a significant portion of the population remains excluded. Approximately 61% of Ugandan adults do not have access to formal financial services, with women being particularly underrepresented. Only 31% of Ugandan women are financially literate, compared to 40% of Ugandan men.
The use of mobile money has grown rapidly in Uganda over the past decade, with over 27 million mobile money accounts registered as of 2021. This growth has been accompanied by an increase in the number of registered users of online banking services, which rose from 191,761 in December 2019 to 256,210 in June 2020, representing a 33.6% increase. However, challenges still exist to the widespread adoption of these services, including limited internet connectivity and concerns about the security of digital transactions.
Against this backdrop, the Beera Steady campaign seeks to promote financial literacy and digital security among Ugandans. By providing education and resources on best practices for securing digital financial transactions, the campaign aims to empower individuals to take control of their financial futures and protect their digital income. Through this initiative, the Beera Steady campaign hopes to contribute to a more inclusive and secure financial environment for all Ugandans.
1. Build Trust: To increase the trust of Ugandans in digital financial services associated with financial institutions by educating them on the security measures implemented by these institutions to safeguard their digital money.
2. Promote Uptake and Usage: To encourage the uptake and usage of digital financial services by creating awareness of their benefits and convenience to the digital economy, especially among the underrepresented population in Uganda.
3. Educate on Financial Literacy and Safety: To sensitize the general public on financial literacy and safety measures related to digital financial transactions, thus empowering them to make informed decisions and protect their financial information.
4. Foster Individual Responsibility: To emphasize that the responsibility for protecting digital money lies with the individual and not solely with the digital financial institution. The campaign aims to educate Ugandans on their role in safeguarding their digital income and the importance of taking proactive measures to secure their financial information