‘Money looks for money’: Managing financialization in eastern Uganda

Jones, Ben and Amongin, Sarah (2023) ‘Money looks for money’: Managing financialization in eastern Uganda. Africa, 93 (4). pp. 455-475. ISSN 0001-9720

[thumbnail of Savings_Group_Article_Jones_Amongin_AAM]
PDF (Savings_Group_Article_Jones_Amongin_AAM) - Accepted Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.

Download (299kB) | Preview


Savings groups are an important feature of life in rural Uganda and elsewhere. They have been celebrated as an ‘alternative’, community-based, approach to economic development with a particular focus on empowering women. In this article we offer a more critical perspective, showing how a savings group in a village in eastern Uganda informs more general experiences of financialization. Joining the group was not really an ‘alternative’ to other forms of finance and was often a first step to securing loans from moneylenders, microfinance institutions and commercial banks. We show how poorer members of the group, typically women, ‘rented out’ their membership to wealthier villagers. Members also used the Friday meetings to socialize and to build political careers, and to reflect critically on experiences of financialization. ‘Money looks for money’, a phrase new to the area, interrogates these socialities and inequalities, as part of the seemingly inexorable pull of loans, interest and financialized debt.

Item Type: Article
Additional Information: Acknowledgements: The research for this article was funded by the British Academy (grant numbers MD170053 and YF190162).
Uncontrolled Keywords: geography, planning and development,anthropology,arts and humanities (miscellaneous),sdg 8 - decent work and economic growth,sdg 5 - gender equality,sdg 1 - no poverty ,/dk/atira/pure/subjectarea/asjc/3300/3305
Faculty \ School: Faculty of Social Sciences > School of Global Development (formerly School of International Development)
UEA Research Groups: Faculty of Arts and Humanities > Research Groups > Heritage and History
Faculty of Social Sciences > Research Groups > Gender and Development
Faculty of Social Sciences > Research Groups > The State, Governance and Conflict
Related URLs:
Depositing User: LivePure Connector
Date Deposited: 05 Jul 2023 08:31
Last Modified: 13 Nov 2023 17:57
URI: https://ueaeprints.uea.ac.uk/id/eprint/92565
DOI: 10.1017/S000197202300061X


Downloads per month over past year

Actions (login required)

View Item View Item