# Enhancing Women’s Financial Empowerment through Savings Strategies: Evidence from MAMIDECOT, Masaka District, Uganda

## TL;DR

This study shows that savings strategies in Uganda help rural women gain financial independence and decision-making power, despite cultural challenges.

## Contribution

The study provides empirical evidence on how structured savings mechanisms enhance women's financial empowerment in rural Uganda.

## Key findings

- Savings strategies significantly enhanced financial empowerment (R² = 0.304, p < 0.001).
- Group savings fostered trust, accountability, and self-reliance among women members.
- Cultural factors did not significantly moderate the effectiveness of savings strategies.

## Abstract

Women’s financial empowerment is central to achieving inclusive and sustainable development in sub-Saharan Africa. Savings strategies, particularly within Savings and Credit Cooperative Organizations (SACCOs), play a pivotal role in enhancing women’s financial inclusion, independence, and decision-making capacity. Despite progress, rural women in Uganda continue to face barriers such as limited financial literacy, irregular income, and restrictive social norms. This study therefore examined the influence of savings strategies on women’s financial empowerment in Masaka District, Uganda, focusing on structured saving mechanisms and the moderating role of cultural factors.

A convergent mixed-methods design grounded in the pragmatic paradigm was employed. Quantitative data were collected from 340 women members of MAMIDECOT SACCO through structured questionnaires, while qualitative data were obtained from interviews with 10 SACCO managers and focus group discussions. Quantitative data were analyzed using descriptive statistics, Pearson correlation, and regression analysis in SPSS v25, whereas qualitative data were thematically analyzed to complement statistical results. Reliability (Cronbach’s α ≥ 0.70) and validity were confirmed, and ethical approval was obtained from the Kampala International University Research Ethics Committee.

Results revealed that savings strategies significantly enhanced women’s financial empowerment (R
2 = 0.304, F(4,335) = 36.526, p < 0.001), strengthening financial independence, decision-making, and household influence. Group savings fostered mutual trust, accountability, and self-reliance among members. Cultural factors did not significantly moderate the relationship, indicating that structured savings mechanisms were broadly effective across diverse socio-cultural contexts.

Savings strategies are a critical driver of women’s financial empowerment in rural Uganda. Policymakers and SACCOs should expand gender-sensitive savings products, strengthen governance, and scale up financial literacy programs to sustain empowerment outcomes and promote inclusive economic participation among women.