DEREVA PROGRAM
The DEREVA is a welfare Program for drivers, offering a comprehensive solution to financial insecurity. UPDN conceptualized the “DEREVA PROGRAM” in collaboration with key stakeholders, including Leaders of Driver associations, SWICO and NSSF designed to promote financial inclusion and stability among drivers, tailored to address the unique challenges faced by drivers, including limited access to financial services, lack of access to insurance cover, inadequate digital skills, and poor working conditions.
The purpose is to empower drivers to take ownership of their financial futures through a comprehensive program that goes beyond providing a safety net for retirement, future uncertainties, and insurance coverage. We aim to equip drivers with the tools and resources needed to manage their finances effectively, save for long-term goals, and ultimately enhance their overall well-being.
Through DEREVA welfare savings, will lead the establishment of a Driver SACCO, a crucial step towards launching a SACCO dedicated to the welfare of drivers, drivers will be incentivized to save more, leading to increased savings with the National Social Security Fund (NSSF) and enhanced insurance coverage.
The DEREVA SAVING program focuses on three key components:
- Social Security Savings: Drivers contribute a voluntary amount per day to the National Social Security Fund (NSSF), providing them with a safety net for their future.
- Insurance Savings: Drivers contribute per day to Statewide Insurance Company (SWICO), which provides them with health and insurance coverage.
- Welfare Savings: Drivers contribute voluntary amount per day to a pool of funds that will grow over time, providing them with a source of capital for starting small businesses, the amount can be borrowed at low interest rate to covering unexpected expenses, or supporting their families.