Factors associated with ownership of a bank account among women aged 15-49 in Uganda

Abstract

It is substantial to access the factors associated with ownership of a bank account among women aged 15-49 in Uganda, therefore this study investigates the socio-demographic factors which affect account ownership. Using the Uganda Demographic data set anda sample size of 18506 respondents andemploying statistical analysis that is to say univariate, bivariate, and multivariate analyses, this research examines the influence of demographic, geographical, and socio-economic variables on likelihood of women owning bank accounts. The study’s results shed light on the barriers and opportunities for women’s financial inclusion. This study results show that account ownership among women aged 15-49 in Uganda is low (less than 55%). The prevalence of bank account ownership among women was significantly associated with woman’s age, residence,education level, wealth index, media exposure, and region. Understanding these factors is crucial for development of targeted strategies to promote greater financial inclusion, promoting economic empowerment and financial security among women contributingto gender equality and broader socio-economic development goals.In conclusion, ownership of a bank account is influenced by an interplayof factors such as marital status, residence, wealth index, mobile phone ownership, education level, region, and woman’s occupation.In order to increase ownership of bank accounts among females, girl child education should be made key to at least secondary level.