By Edrisa ssentongo
The National social security fund has launcehed a strategic partnership with Interswitch Know as NSSF ku kyalo meant to extend social security services to more Ugandans through digital financial services with a goal to onboard over 100,000 new voluntary savers on the fund’s smart life flexi product through Interswitch quick teller agent network.
The NSSF mandatory business continues to perform strongly with the fund’s assets under management now standing at over 26 trillion due to consistent compliance of the member contributions and solid investment decisions that continue to generate competitive returns.
The voluntary side has achieved remarkable growth and portfolio size stands at 52 billion with the number of Smart life flexi members at 49000 and the total numbers of transactions at 250,000.
“We recently unveiled our 10 years strategic plan and vision 2035 guided by our mandate to provide social security services to all eligible Ugandans and one of the key pillars of this strategy is to increase social security coverage to 50% of Uganda’s workforce by 2035 representing over 15 million people which we will achieve by creating capacity and willingness to save, said Patrick Ayota NSSF MD
“Today we are proud to officially announce the partnership between Interswitch and National social security fund, a collaboration designed to empower Ugandans with greater access to savings and investment opportunities, said Morris Sseguya the Managing Director of Interswitch.
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