The Role of Financial Institutions on Improving Peoples Standards of Living. Case Study: Nakulabye Zone Four Kampala District.

Abstract

The purpose of this study was to establish the role of financial institutions on people’s standards of living in Nakulabye zone four Kampala District. The research was based on three objectives and these include the effect of credit facilities on people’s standards of living, the effect of savings on people’s standards of living and the impact of financial literacy on people’s standards of living. The researcher used a case study research designs. The study employed both qualitative and quantitative approach as research designs. Data was collected using Questionnaires and Interview guide. Therefore, few respondents (60) have been taken as a sample and were selected randomly. Data was analyzed using the Statistical Package for Social Scientists where conclusions drawn were presented using figure and correlation tables.

Findings of the study revealed that there was a positive and significant relationship between credit facilities r=166, savings r=269* and p≤0.05, financial literacy r=826 with peoples standards of living.

However, the study found out that there was a positive and significant relationship between financial institutions and peoples standards of living. This means that financial institutions have a role that they play in improving the standards of living of the people they serve.

Finally the study recommended that the financial institutions they should reduce on the process of accessing credit facilities, train their customers about the products they offer so as to make wise decisions, improve on the network, and reduce on the assets which they use as security, increase on the outlets so as to ease the work of their customers, and reduce on the writings that is there is a lot of paper work while accessing credit facilities and many others.

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