The National Social Security Fund (NSSF) has unveiled a new strategic partnership with boda boda cyclists across the country in a move expected to inject over Shs365 billion into the Fund and expand social security coverage among informal sector workers.
Under the initiative, NSSF will collaborate with the United Boda Boda Riders Cooperative Union, which represents over one million riders nationwide. The cyclists will contribute to the Fund through its voluntary savings scheme, SmartLife Flexi, which allows flexible deposits tailored to irregular incomes.
“Our aim is to bring more Ugandans into the social security system. The boda boda sector is a key part of our informal workforce, and this partnership allows them to save for the future in a flexible and secure way,” said Patrick Ayota, NSSF Managing Director.
Uganda’s labour force is estimated at over 20 million people, yet only 2.4 million — about 12% — are active contributors to the NSSF. The Fund’s long-term goal is to raise national pension coverage to 50% by 2035, translating to 15 million active members.
The partnership with boda boda riders is part of NSSF’s broader strategy to reach informal workers who make up the majority of Uganda’s economy.
The Fund has already made progress through group savings initiatives, including partnerships with more than 20,000 farmers in northern Uganda who are now contributing to their retirement savings.
Ayota noted that the boda boda initiative represents the next frontier in inclusive pension growth, saying it will “help thousands of riders secure their financial future and reduce old-age vulnerability.”
Analysts say the partnership could mark a turning point for Uganda’s pension sector, long criticized for low coverage and limited engagement with informal workers who drive much of the country’s economic activity.