Panel: RELIGION AND TRANSFORMATION IN AFRICA: A MULTIFACETED PERSPECTIVE



458.6 - EXAMINING THE ROLE OF RELIGION IN SOCIO-ECONOMIC DEVELOPMENT

AUTHORS:
Nambalirwa Nkabala H. (Makerere University ~ Kampala ~ Uganda) , Mbabazi V. (Makerere University ~ Kampala ~ Uganda)
Text:
Religion has a significant impact on socioeconomic growth, both positively and negatively. It can help to foster moral and ethical underpinnings such as work ethics, charity, social welfare, social capital, conflict resolution, education, human capital, economic behaviour, and ethical business practices. Religious institutions may provide a sense of community and social capital while simultaneously advancing knowledge and creativity. Religious traditions, such as Islamic finance, which avoids interest and ethical business practices, can impact economic behaviour. Religious organisations like those the Catholic Church, Islamic charities, and Buddhist organisations all impact international charity and development. These organisations provide humanitarian help, construct infrastructure, and promote social initiatives aimed at alleviating poverty and improving healthcare in underdeveloped countries. Sometimes, religion is called the dancing partner of development agencies and organisations which are working to achieve sustainable development goals. However, religious beliefs and practices can potentially prevent or hinder social and economic development, deeply intertwined with conflicts and unrest, sustaining disparities and increasing social inequality.