NSSF takes entrepreneurial, saving skills to universities

Kampala. The National Social Security Fund (NSSF) has launched a career expo premised on inculcating saving and entrepreneurial skills among university students.
Unveiling the expo plan on Wednesday at Makerere University, NSSF deputy managing director Geraldine Ssali said students have many business ideas but a few come to materialise due to limited guidance in execution of the same.

“You want a comfortable life but you have no saving culture. The concept of producing many children and hope they will take care of you when you are old is gone. Start saving now,” Ms Ssali said, adding: “Students (who will engage in the expo) will have an opportunity to register with NSSF so that when they get employment, they already have their social security numbers.”
According to NSSF Act, every company that employs more than five workers must register with NSSF and make mandatory contributions of 10 per cent by the employer and five per cent by the employee.
This savings can be accessed after meeting certain requirements including 50 years of age and if a member of the Fund migrates permanently to another country.

The expo, now in its fourth year, will run in five universities including Makerere, Uganda Christian University, Makerere University Business School, Ndejje and Nkumba targeting 20,000 students.
Ms Ssali also cautioned the students from associating with negative people.
Makerere University vice chancellor Professor Ddumba Ssentamu, lauded the initiative, saying many students lack such professional guidance and if corporate bodies can work together with the institution, such initiatives are handy.
“Our students will be better prepared for the employment environment because of such initiatives,” he said.
Last year, the expo attracted 15,000 students.

ptajuba@ug.nationmedia.com

SOURCE: Daily Monitor

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