Financial Management Practices and Economic Empowerment of Selected Members of Savings and Credit Cooperatives in Kampala District, Uganda

The study investigated how financial management practices influence the economic empowerment of selected SACCO members in Kampala District. Utilizing a descriptive cross-sectional research design, the study targeted a total population of 1,105, from which a sample of 230 respondents was selected through simple random sampling. Findings revealed that financial management practices—specifically budgeting, cash management, and record-keeping—had a positive and significant impact on the economic empowerment of SACCO members in the district. Based on these results, it was recommended that SACCOs prioritize the timely preparation of final accounts, enforce strict adherence to budgets, and maintain consistent goal-setting to further support the economic empowerment of their members.