NSSF Launches Savings & Financial Literacy Campaign Among Kampala Market Vendors
Thousands of informal traders are being introduced to savings products and financial education to help build resilience and social safety nets.
Vendors in Kampala’s bustling public markets are often excluded from formal financial systems and susceptible to economic shocks. In a new move, the National Social Security Fund (NSSF) has launched a campaign to bring financial literacy, savings culture, and inclusion to market vendors through its “Smartlife Flexi Voluntary Savings Plan.”
What the Initiative Is Doing
The campaign kicked off at St. Balikuddembe (Owino) Market—one of Kampala’s largest—hosting about 40,000 vendors. It aims to train vendors on budgeting, savings, financial planning, and the benefits of registering into formal savings tools.
Through Smartlife Flexi, vendors can contribute to savings plans in a more flexible manner, fitting informal incomes. The plan is voluntary, aiming for medium-term financial security.
Why It Matters
Informal sector workers lack formal safety nets. Savings and financial knowledge provide buffers against emergencies, illness, bad business days.
Markets are key economic lifeblood—food, goods, livelihoods for many households. Improving vendor financial stability has ripple effects on households and communities.
Spurs inclusion into formal financial systems, which helps with broader economic planning, credit access, investment possibilities.
Challenges & What to Watch For
Uptake may vary: vendor incomes are volatile; many may prioritize immediate needs over saving.
Trust is important: vendors will need confidence in the oversight, transparency, and benefits of these saving schemes.
Literacy & capacity: many vendors may be unfamiliar with formal financial products; illiteracy or lack of experience could be barriers. Education must be accessible.
Kampala’s vendors are getting a chance to build financial resilience. With initiatives like NSSF’s financial literacy push, the informal economy gets recognized not just as a sector of challenge—but of opportunity. If done well, this could strengthen economic security for thousands of small traders in the city.
