NSSF launches saving scheme for informal sector workers

Otuke, Uganda | THE INDEPENDENT | The National Social Security Fund (NSSF) has launched its livelihood support project. The initiative is aimed at recruiting informal sector workers to save with the fund.

Launched in Otuke district on Friday, the project is currently being piloted in the four districts of Otuke in Northern Uganda, Kayunga in Central, and Sheema and Mitooma in Western Uganda. So far, over 10,780 new members have registered and started saving. Currently, only about 11 percent of Uganda’s working population is saving with NSSF.

The project targets existing groups referred to as the “Livelihood Community” to accelerate their access to new skills and knowledge, productive assets to add value to their goods and services, markets for their goods and services, and higher income-earning opportunities.

Patrick Ayota, the NSSF’s Managing Director believes that the implementation of this project will help the Fund achieve its strategic objective of recruiting at least 50% of Uganda’s working population by 2035.

Ayota applauded the over 6,000 women of Otuke under their “Dero Amon” saving scheme for embracing the culture of saving and trusting NSSF with their savings. Each woman has so far saved 3,000 shillings with NSSF in exchange for a hand hoe.

The NSSF Board Chairperson, David Ogong applauded the Fund for devising innovative ways of recruiting the informal sector workers.

Ogong implored Ugandans to embrace the culture of saving.

Paul Omara, the Otuke member of parliament who introduced the Dero Amon saving scheme argues that empowering women is the quickest way of developing the country.

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