NSSF to enrol over one million boda riders into saving scheme
Rebekah Kabogo Mugisha, the NSSF senior manager of partnership and business development said Smart Life Flexi is open to any boda boda rider who subscribes to the National Boda Boda Union and is willing to save money for the future.
Rebekah Kabogo Mugisha, the NSSF senior manager partnership and business development explaining to the press what Smart Life savings initiative means. (Photos by Jesse Johnson James)
Jackson Kitara
Journalist @New Vision
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National Social Security Fund (NSSF) is targeting to enrol 1.2 million bodaboda operators (cyclists ) across the country into a voluntary savings scheme.
Last year, NSSF launched a voluntary savings initiation dubbed “smart life flexi”, which allows an individual aged 16 and above to save money as low as sh5,000 per week.
This follows the amendment of the NSSF Act in 2022 and the subsequent passing of the regulation in November last year.
Rebekah Kabogo Mugisha, the NSSF senior manager of partnership and business development said Smart Life Flexi is open to any boda boda rider who subscribes to the National Boda Boda Union and is willing to save money for the future.
According to Mugisha, for someone to join he needs a National Identification Number or valid passport as well as a phone number to save with NSSF.
She said that they have so far registered over 2,000 bodaboda riders and are targeting to register 1.2 million of them from across the country.
“Smart life is a very important initiative to the boda boda riders because for the last 40 years, we did not have the provision to target the informal sector which has the majority of the workers,” she revealed, adding that, over 80% of the working Ugandans belong to informal sector.
Kabogo was on Wednesday (May 7, 2025) speaking to over 1,200 leaders of boda boda riders during the maiden National Boda Boda Union Leadership Retreat held at Secret Heart Girls’ Secondary School in Gulu City.
Boda boda riders seek information about the savings initiative at the NSSF tent.
The retreat was held under the theme: “Strengthening Leadership and Unlocking New Possibilities,” and Gen (Rtd) Salim Saleh was the guest of honour.
Beneficiaries' take on the scheme
Frank Mawejje, the chairperson of the United Boda Boda Cooperative Union said they partnered with NSSF to allow boda boda riders to save for their retirement just like civil servants.
He said the boda boda industry is Uganda’s second-largest employer and data indicates that there are approximately 1.2 million boda boda riders in Uganda with around 150,000 registered stages.
Mawejje noted that a major challenge for bodaboda riders is accessing affordable financing.
He said many operate under harsh loan conditions, often leading to the loss of their motorcycles.
He said through the cooperative union, riders will now have access to micro-loans and affordable asset financing, helping them own motorcycles without facing exploitative interest rates.
“The cooperative model also promotes savings and investment opportunities, enabling riders to build financial stability and even transition to other business ventures when they retire from the industry”, Mawejje remarked.
Mawejje said from July, they will start planting trees and each stage will start planting one tree seedling a month so that they protect the environment.
John Bosco Segembe, the chairman of bodaboda association of Wakiso district said the smart life product is a good initiative which will enable them to save for the future when they stop riding due to old age.
“We have been working without any insurance or savings, now with this smart life, we will be saving money weekly so that by the time we retire from the boda boda business, we will be able to save money to enjoy life when we grow old,” Segembe.
Segembe who doubles as the Secretary General of the United Boda Boda Cooperative Union appealed to his colleagues from across the country as well as other individuals in the informal sector to embrace the initiative.
Geoffrey Mukasa, a bodaboda rider from Jinja who has been saving for the last two months says the money will support his family during the evening of his life.