Kampala — MTN Uganda and National Social Security Fund (NSSF) have announced a partnership that enables payment of Social security contributions using Mobile Money.
This followed a survey conducted by NSSF Uganda last year where 67 per cent of the people contacted mentioned Mobile Money as a preferred and easiest option when remitting their Social Security Contributions.
"In the last eight years, MTN Mobile Money has had significant impact in the transformation of people's lives. Now we are further enabling people to pay for their NSSF contributions using MTN Mobile Money.
"This will enable a significant part of our customers pay their pension and ensure they don't retire into poverty," said Mr Wim Vanhelleputte, the CEO MTN Uganda.
He further noted that MTN Uganda holds over 8.8 million Ugandans on Mobile Money which ensures NSSF customers money safety.
Mr Richard Byaruhanga, the managing director NSSF Uganda, said MTN Mobile Money can be used by both voluntary contributors under the NSSF voluntary plan as well as established entities, especially those that remit less than Shs4 million in social security contributions per month.
To him, this partnership will make it convenient for their customers to save at ease and also save them from the long bank queues on payment.
"We also launched the Voluntary Contributions Plan to provide an opportunity to workers not covered by the mandatory provisions of the NSSF Act, as well as those in gainful self-employment that were previously contributing to the Fund to voluntarily save," Byaruhanga added.
MTN Mobile Money has since 2009, been a major facilitator of financial inclusion in the country.
Statistics show that more than 8.8 million Ugandans depend on the platform, of which the majority had little or no access to any formal banking structure.