NSSF and Boda Boda Union target over 1.2mln riders in new savings partnership
GULU CITY, May 9, 2025 – The National Social Security Fund [ NSSF ] is aiming to enrol at least 1.2 million boda boda riders into a new savings partnership with the National Boda Boda Union.
The Union currently boasts a membership of over 1.2 million members across the country.
Under the new initiative, riders who explicitly consent will save through the Union’s subscription-based mobile application. Their savings will be linked to their mobile phone numbers for easy tracking.
Rebeka Kabugo Mugisha, Senior Manager for Partnerships and Business Development at NSSF, described the partnership as significant, particularly as NSSF has struggled for over 40 years to effectively engage with the informal sector.
According to Kabugo, riders enrolled in the voluntary savings scheme can deposit any amount starting from as little as Shs 5,000 per day. Members may save continuously for a year before deciding whether to continue or to withdraw their funds.
“Over 80 percent of working Ugandans are employed in the informal sector, so this presents a very exciting opportunity for us to engage with a critical segment of the population,” Kabugo said.
She noted that so far, 2,000 boda boda riders have already joined the scheme under the new partnership.
Fred Senoga, Business Advisor at the Union, explained that members contribute Shs 6,000 weekly, of which Shs 5,000 is saved, while Shs 1,000 goes to support Union operations. He added that members are free to save any additional amount they wish under the scheme.
Senoga emphasised that the aim of the partnership is to improve the livelihoods of Union members.
“There’s a common perception that one must sell land to afford a motorcycle and join the sector. But through this savings scheme, we want our members to be able to purchase bikes using their savings, acquire land, build their own homes, and generally improve their living conditions,” he said.
Stephen Odong, a boda boda rider operating at the Bed Ma Iyeng stage in Gulu City, welcomed the initiative. He said that compared to local savings groups, which often face issues of trust and accountability, saving with NSSF is more secure as it is a government entity.
https://thecooperator.news/boda-boda-riders-tasked-to-account-for-emyooga-funds/
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