Microfinance and Financial Literacy Among Female Farmers in Ugandan Remote Regions 2008

Microfinance initiatives have been implemented in various parts of Uganda to support small-scale farmers, particularly women who face unique financial challenges. A cross-sectional survey was conducted with a sample size representative of rural Ugandan women engaged in agriculture, utilising standardised questionnaires to gather data on financial literacy levels and entrepreneurial activities. Microfinance significantly improved the financial literacy scores by an average of 20% among female farmers, particularly those who received longer-term credit facilities. Entrepreneurial activity participation increased from 45% to 68% in microfinance groups compared to non-participants. The findings suggest that microfinance programmes play a crucial role in enhancing financial literacy and fostering entrepreneurial activities among female small-scale farmers in remote Ugandan regions. Policy makers should consider integrating microfinance into existing agricultural support schemes, focusing on providing longer-term credit facilities to boost the impact of such programmes.