Interswitch Group and NSSF Uganda Join Forces to Revolutionize Social Security and Drive Financial Inclusion
In a significant move poised to broaden access to essential financial services, the National Social Security Fund (NSSF) Uganda has announced a landmark partnership with Interswitch Group, a prominent digital payment and e-commerce giant across Africa. This collaboration aims to extend vital social security services to a greater number of Ugandans, leveraging Quickteller, Interswitch’s flagship consumer financial and agency banking platform. This alliance underscores a shared commitment to enhancing social welfare and fostering greater financial inclusion within the East African nation.
Expanding Social Security Reach Through Digital Innovation
The National Social Security Fund (NSSF) Uganda, a multi-trillion shilling entity, operates under a government mandate, established by the NSSF Act, as amended, to deliver social security provisions to all eligible employees nationwide. Regulated by the Uganda Retirement Benefits Regulatory Authority, the Fund also benefits from policy oversight by both the Minister of Gender, Labour & Social Development and the Minister of Finance, Planning & Economic Development. With an impressive asset portfolio exceeding UGX 25 trillion, NSSF strategically invests in Fixed Income, Equities, and Real Estate assets throughout the East Africa region. The newly launched partnership in Kampala is specifically designed to onboard over 100,000 new voluntary savers onto the Fund. By integrating NSSF services into Quickteller’s robust digital ecosystem, Interswitch is set to simplify contributions and access for countless individuals, particularly those in the informal sector, who may have previously faced barriers to participation. This strategic use of digital payment infrastructure highlights a critical pathway for social security institutions to reach underserved populations and reinforce national financial resilience.
This forward-thinking partnership between Interswitch Group and NSSF Uganda marks a pivotal moment in the country’s journey towards comprehensive social protection and economic empowerment. By combining NSSF’s mandate to safeguard future welfare with Interswitch’s technological prowess and extensive reach, the initiative is set to significantly deepen social security coverage and accelerate financial inclusion, creating a more secure future for many Ugandans.
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