• Kampumure Joseph
  • Omoro Oluoch Nixon
  • odhiambo Otieno Luther


This study sought illuminate the determinants of financial inclusion among working women. The
two objectives of this investigation were to establish the effect of financial literacy on financial
inclusion and the effect of self-efficacy on financial inclusion among working women in Uganda.
The empowerment theory and the social cognitive theory underpinned the study. A correlational
cross-sectional design was used. Using the recommended Krejcie & Morgan table at a 5% level
of significance, a sample size of 384 is derived and used from a population of 327,930 working
women (+15 years) in all the five divisions of Kampala district in Uganda. A closed-ended
structured questionnaire was used to obtain the primary data. Pearson correlation analysis was
done to find out how the study variables are related. The hypotheses were subjected to empirical
validation through the utilization of Multiple Regression Analysis. The results show that Financial
Literacy positively and significantly (B=0.383, β= 0.365, p<0.01) affected Financial Inclusion.
Additionally, the results confirm that self-efficacy positively and significantly (B=0.091, β= 0.114,
p<0.05) affected Financial Inclusion. Thus, the results of the validation of study hypotheses led to
their rejection. The researchers recommend that the government of Uganda should intentionally
design policies that empower working women to be financially literate like approving training
curricula that have content of financial literacy focusing on financial behaviour, financial skills
and financial attitudes. Additionally, initiatives that target working women to build their self-belief
to use the existing financial services such as use of role models should be supported.
Keywords: Financial Literacy, Self-efficacy, Financial Inclusion, Working Women, Empowerment
Theory and Social Cognitive Theory.