Farmer Deogratius Turns Seasonal Earnings into Year-Round Passive Income
Friday, October 23 2026 8:30 am
By Julius Businge, Financial Journalist
For many Ugandan farmers, the focus is often on the next planting season, the next harvest or the next market day. Retirement planning rarely features prominently in conversations around agriculture, especially among smallholder farmers whose incomes fluctuate with weather patterns and market prices.
Yet for Deogratius Mijumbi Mbabazi, a farmer aged 69 from Butema Parish in Buhanika Subcounty, Hoima District, planning for the future has become just as important as tending to his crops.
After decades in formal employment and years of building a diversified farming enterprise, Mbabazi is now using NSSF SmartLife Flexi to continue growing his savings and securing his family’s future.
Roots in farming
Mbabazi is a husband, father of five children and a retired economist whose life has combined public service and farming.
His agricultural activities are as diverse as they are productive. On his farm in Hoima, he grows coffee on two acres, keeps 30 beehives for honey production, rears goats, chickens and pigs, and cultivates maize, bananas, mangoes, avocados and jackfruit, among other seasonal crops.
He also keeps cattle that supplement household income through milk production and livestock sales.
Although farming now occupies much of his time, Mbabazi spent decades in formal employment. He began his career in June 1975 with the then East African Posts and Telecommunications Corporation before serving under various successor entities, including Uganda Telecom Limited.
Along the way, he acquired a degree in Economics and Political Science and later undertook professional training in project management.
Like many workers of his generation, he contributed to retirement savings schemes throughout his employment and eventually benefited from The Fund when he retired.
“When I got my payout, I built this house and made other investments. It helped me a lot. Establishing myself here was built on that foundation,” he says.
Discovering SmartLife
Although Mbabazi had heard about The Fund’s voluntary savings products through newspapers and public awareness campaigns, he did not immediately enrol after retirement.
That changed in October 2025 when he met staff from The Fund at an exhibition at Bulindi Zonal Agricultural Research and Development Institute (BuZARDI).
Out of curiosity, he approached the team to learn more about SmartLife Flexi, The Fund’s voluntary savings product designed for people in self employment, farmers, entrepreneurs and others outside mandatory social security arrangements.
“I told them I wanted to join,” he recalls.
With guidance from a staff member named Miriam, Mbabazi completed the registration process and began his voluntary savings journey.
He started modestly, making an initial contribution of UGX 500,000 in October 2025. What followed surprised even him.
“I continued saving little by little. The target I had set for myself, I have already surpassed and even doubled it,” he says.
Within just six months, he had not only achieved his savings goal but exceeded it, demonstrating that consistent saving, even in small amounts, can produce impressive results.
The experience reinforced an important principle for him: financial security is built gradually.
The power of saving
As an economist by training, Mbabazi says one of the biggest attractions of SmartLife Flexi is the power of compound interest.
“The biggest beauty with this scheme is compound interest,” he explains. “Most people do not understand it, but it is very powerful.”
He believes many Ugandans, including farmers, often leave money idle or invest in assets that depreciate over time without understanding the benefits of disciplined saving over the long term.
“If people understood how their money grows, many would save differently. You can keep your principal intact and benefit from the growth over time,” he says.
For farmers especially, whose earnings are often seasonal, he sees SmartLife Flexi as an opportunity to convert harvest proceeds into lasting financial security.
Following a successful harvest, a farmer can set aside part of the proceeds and allow the funds to grow rather than spending everything immediately.
Mbabazi says this approach helps farmers build resilience and prepare for future needs, including retirement, healthcare, family responsibilities and unforeseen challenges.
He also appreciates the flexibility of the product, which allows him to save according to his income patterns and use his mobile phone to contribute from wherever he is.
Message to farmers
Agriculture remains one of Uganda’s largest employers, employing 37.1% of the total working population, with the vast majority operating on smallholder or subsistence farms, according to the Ministry of Finance, Planning and Economic Development.
Yet a large proportion of agricultural workers operate outside formal social security systems. For Mbabazi, this represents both a challenge and an opportunity.
He believes many farmers still view retirement planning as something meant only for salaried workers. However, he argues that every farmer should think about what happens when age, illness or changing circumstances reduce their ability to work.
“People should not wait until they stop working to think about their future,” he says.
His advice is simple: start small, but start now.
He acknowledges that some farmers face difficult circumstances, including unpredictable weather, pests, diseases and market fluctuations. He points to recent hailstorms in parts of his area that destroyed entire tobacco and banana crops and wiped out farmers’ investments.
He insists that whenever farmers have surplus income from a good season, they should consider setting aside a portion for savings over the long term.
“I encourage farmers who are doing well to save. If you pick money from your sales and put it into this scheme, it keeps growing. It is very good,” he says.
Today, Mbabazi sees his savings journey as part of a broader legacy for his children.
“My future is my children. I am preparing their future,” he says.
His story demonstrates that social security is not only relevant to office workers and salaried employees. It can also play a transformative role in agriculture by helping farmers build financial discipline, preserve wealth and prepare for life beyond active farming.
As The Fund continues expanding social security coverage to both formal and informal workers, including those in agriculture, farmers like Mbabazi are proving that with the right savings culture, today’s harvest can become tomorrow’s security.
For those still hesitant about voluntary saving, his message is clear: start where you are, save what you can and give your future a chance to grow.
