Airtel Money and the National Social Security Fund (NSSF) have renewed a partnership intended to expand voluntary savings through SmartLife Flexi, NSSF’s flexible savings product aimed at informal and self-employed workers.
The two organisations said the deal, announced on Sunday, would allow Ugandans to enrol in SmartLife and make contributions using Airtel Money, drawing on the operator’s subscriber base of more than 20 million people.
Airtel Money is the trading name of Airtel Mobile Commerce Uganda Limited.
According to NSSF, SmartLife Flexi held total assets of 199.3bn Ugandan shillings and had signed up more than 130,000 members as of 28 August, less than two years after launch.
Customers can start saving from as little as 500 shillings, with transaction charges from 150 shillings per contribution, the partners said.
Japhet Aritho, managing director of Airtel Mobile Commerce Uganda, said the arrangement was meant to make long-term saving easier through digital channels and would reach traders, boda-boda riders, farmers and self-employed workers.
NSSF deputy managing director Gerald Paul Kasaato said SmartLife was designed to extend social security cover to Ugandans in both the formal and informal sectors, as well as those in the diaspora. He said the partnership would let the fund reach people through a platform they already used daily.
The organisations said the roll-out would be backed by an awareness campaign across their digital platforms, along with financial literacy and community outreach activities.
NSSF, established under the NSSF Act (Cap 230), manages assets of more than 32tn shillings invested in fixed income, equities and real estate across the East African region.
