An assessment of digital financial literacy in SACCOS in Wakiso district.

Abstract

The primary purpose of this study was to analyze the digital financial literacy of SACCO members in Wakiso District. The study focused on three main objectives, to establish the extent of digital financial literacy among SACCO members in Wakiso District, to identify barriers to digital financial literacy for SACCO members; and to suggest solutions for enhancing digital financial literacy in the district. The study was guided by the Technology Acceptance Model (TAM) and employed a cross-sectional survey design with a quantitative approach. Wakiso District had a total of 136 SACCOs under the Emyooga project, yielding a response rate of 56%. Primary data were collected using a structured questionnaire to operationalize the theoretical constructs. The findings further revealed that high mobile data costs, low digital literacy, limited smartphone access, and security concerns were key barriers to full digital engagement. The study concluded that while digital financial services were widely used, full participation was hindered by both technical and socio-economic barriers. It was recommended that SACCOs collaborate with educational institutions, NGOs, and government bodies to design tailored digital training programs. The research contributed valuable insights into an underexplored context, offering a comprehensive assessment of digital financial literacy and laying the groundwork for more inclusive financial interventions. Subject keywords; Digital financial literacy, SACCOS, Wakiso district.