Uganda National Scholars Fund (UNSSF)
Savings & Social Security for Scholars - Baby Class to University
The Vision
The Uganda National Scholars Social Security Fund (UNSSF) is Pearl Foundation's groundbreaking initiative to solve the #1 barrier to youth employment: lack of accessible finance.
The Problem We're Solving
Current situation:
- 460,000+ youth graduate annually with certificates to degrees
- Only 8,000 absorbed into formal employment sector
- 452,000 left unemployed despite qualifications
- Banks require collateral most youth don't have
- Interest rates too high for startup businesses
- Government programs (Emyooga, Parish Model, Youth Livelihood Fund) have short repayment periods and high interest
How UNSSF Works
The Concept: Similar to how retiring workers get packages from NSSF, students save onto UNSSF from Baby Class to University to receive job-creating financial packages after graduation.
Key Features:
- Interest-Free Loans: No interest charges on funds borrowed
- Security-Free: No collateral required - only monthly premium payments
- Long-Term Savings: Parents and students contribute from early education
- Job Creation Focus: Funds specifically for starting businesses, not consumption
- Affordable Premiums: Based on insurance crown funding model
Why UNSSF is Different
| Feature | Traditional Banks/Programs | UNSSF |
|---|---|---|
| Interest Rate | 15-25% per year | 0% (Interest-Free) |
| Collateral | Land, property, guarantors required | None (Security-Free) |
| Repayment Period | 6-24 months (too short) | Flexible, matched to business cycle |
| Who Qualifies | Those with assets/guarantors | All UNSSF contributors |
The "Good Enough Principle"
UNSSF is part of our holistic approach including:
- Compulsory Holiday Apprenticeships/Skilling Programs (Baby Class to University)
- Creative Sciences and Innovations Subject in schools
- Uganda National Scholars Social Security Fund for financial security
Biblical & Practical Models
Like the successful models we see at:
- Synagogue Church of All Nations (SCOAN)
- Buganda Kingdom's Ettofaali Fund
- House of Prayer Ministries
Pearl Foundation uses the "Mukubebe/Makuyege manner" (working together as termites) - small consistent contributions over time building massive results.
Current Status & Partnership Opportunities
We are developing the framework for UNSSF and seek partnerships with:
- Educational institutions to integrate saving culture
- Religious institutions to mobilize communities
- Government for policy support and recognition
- Financial institutions for technical partnership
- Parents and students as primary stakeholders
Join us in revolutionizing financial accessibility for Uganda's youth!
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