Interswitch Partners with Uganda’s National Social Security Fund to Broaden Social Security Access, Promote Financial Inclusion
The National Social Security Fund (NSSF) Uganda has announced a new collaboration with Interswitch Group, one of Africa’s foremost digital payment and e-commerce firms, to extend social security services to more Ugandans via Quickteller, one of Interswitch’s flagship consumer financial and agency banking platforms.
NSSF Uganda, a multi-trillion shilling fund established by the Government under the NSSF Act, as amended, is tasked with providing social security to all eligible workers in Uganda. The fund is regulated by the Uganda Retirement Benefits Regulatory Authority, with policy oversight shared between the Minister of Gender, Labour and Social Development and the Minister of Finance, Planning and Economic Development.
Currently managing assets exceeding UGX 25 trillion, the fund’s investments span fixed income, equities, and real estate within the East Africa region. The partnership, launched in Kampala, aims to onboard over 100,000 new voluntary savers onto the Fund’s SmartLife Flexi product through Interswitch’s nationwide Quickteller agent network, which includes 20,000 teller agents.
The NSSF SmartLife Flexi is a flexible, goal-oriented savings plan designed to help Ugandans achieve their financial objectives, allowing users to select their preferred savings period and frequency while earning a competitive monthly return, accrued daily.
Speaking at the launch event, NSSF Managing Director Patrick Ayota said the partnership would help accelerate the Fund’s efforts to expand social security coverage across both formal and informal sectors, aligning with its expanded mandate.
“One of the key pillars of our new 10-year strategic direction, informed by our mandate to provide social security services to all eligible Ugandans, is to increase national social security coverage to 50 per cent of Uganda’s workforce by 2035, representing over 15 million people,” Ayota stated.
He also noted that, “We have in the past partnered with telecoms and commercial banks, which enabled us to make all our services accessible via USSD, mobile, and online channels, providing convenience for remittances of contributions. However, there remains a large number of people who prefer a human interface, yet our 21 branches might not be within their proximity. Quickteller agents are the bridge to the informal economy.”
He emphasised that the partnership responds to the ongoing need to simplify savings and payments amidst Uganda’s growing cash economy.
According to the Bank of Uganda’s June 2025 report, the value of cash in circulation increased from Shs8.21 trillion in FY2023/24 to Shs8.98 trillion by June 2025, a nine per cent rise, even as digital transactions continued to grow.
“This partnership will ease how our members and new savers access SmartLife Flexi and make contributions through digital payment channels they already trust, such as Quickteller. It’s about meeting Ugandans where they are, digitally and physically,” Ayota explained.
Customers can now register for SmartLife Flexi at no cost at nearby Quickteller outlets. The minimum initial deposit is Shs10,000, and subsequent contributions can be made conveniently at affordable Quickteller transaction rates.
Employers can also remit mandatory contributions via the same Quickteller network, making the process quicker and more accessible.
Moris Seguya, Interswitch’s Country General Manager, said the partnership reinforced the company’s mission to enhance financial inclusion.
“This partnership is pivotal to our primary objectives at Interswitch Group. We are driven by the need to see every Ugandan access financial services easily and affordably. With over 20,000 agents across the country, Quickteller is strategically positioned to serve everyone, especially Ugandans in the informal sector,” Seguya remarked.
“Today, about 80 per cent of our population is employed in the informal sector, where savings benefits are limited. Collaborating with NSSF allows us to ensure that SmartLife customers, particularly those in the informal economy, can deposit their savings at Quickteller agents within their neighbourhoods, making saving straightforward and convenient. Additionally, our systems, which are regularly reviewed by the regulator, Bank of Uganda, are secure and robust to ensure the safety of our customers’ transactions,” he added.
Flavia Namutamba, a Quickteller agent in Kampala, said the partnership would provide a solution for customers who lack easy access to formal banking services, integrating them into a modern financial system.
“Some people always inquire whether they can register or send money to their NSSF accounts through Quickteller since we are located nearer to them. This solution helps us bridge this gap in the market,” she said.
In June 2025, Interswitch also launched PensionRemit, a fully automated platform designed to help employers comply with Nigeria’s new Pension Contribution Remittance System, which came into effect on June 1, 2025, following regulations by the National Pension Commission and the Pension Fund Operators Association of Nigeria.
With this latest milestone in East Africa, Interswitch continues to strengthen its role as a key driver of social sector value-creation across the continent, providing innovative transaction solutions that support governments, communities, businesses, and individuals to unlock new opportunities and foster prosperity.
Founded in Nigeria in 2002, Interswitch is a leading technology company dedicated to digitising payments and commerce across Africa. It revolutionised Nigeria’s cash-based payments landscape by supporting electronic payments processing and launching Verve, Africa’s leading domestic chip and PIN card scheme.
Today, Interswitch boasts a significant presence across Africa’s developing financial ecosystem, offering comprehensive omni-channel payment solutions. Its vision is to make payments seamless and integrated into everyday life, with a mission to create transaction solutions that enable people and communities to thrive.