NSSF Smartlife Flexi hits Shs5 billion in savings

Kampala, Uganda | THE INDEPENDENT | Just three months after its launch, the National Social Security Fund’s (NSSF) flagship voluntary savings product, Smartlife Flexi, has surpassed Shs5 billion in savings, with informal sector micro-savers leading the charge. Praised for its flexibility, the product targets informal sector workers and the self-employed, while also welcoming formal sector members and non-members to save voluntarily under regulations issued by the Minister of Gender, Labour, and Social Development, Betty Amongi.

NSSF Managing Director Patrick Ayota attributed the strong uptake to the growing demand for financial inclusion and tailored savings solutions. “The informal sector has unique needs, and goal-based, self-directed plans like Smartlife Flexi offer the flexibility, affordability, and choice they require,” he said. An analysis of the portfolio reveals that 70% of enrollees are micro-savers, with nearly 50% citing business as their primary savings source.