OPINION: Despite a tough operating environment, NSSF delivered solid performance beyond expectations- Richard Byarugaba Richard Byarugaba has been NSSF’s Managing Director since late 2010. Slightly over one year into his leadership, he rebranded the Fund with a promise to deliver a better future for NSSF’s growing membership by providing quality products, great customer service, and offering competitive returns in a transparent and efficient environment. It is now 8 years since the rebranding and facts on the ground indicate a promise fulfilled. In the 8 years, NSSF has grown by 5 times from UGX2.7 trillion in 2011/12 to UGX13.3 trillion in 2019/20- a growth of 384.2 %. More importantly, as a result of prudent investments, interest paid to members has grown from UGX197 billion to UGX1.12 trillion- a growth of 469 percent. On the back of what is an against-the-odds 2019/20 performance, in this opinion, Richard Byarugaba says thanks to an inbuilt resilience, the Fund is on course to overcome the Covid-19 rattling and get back on its growth path.
Richard Byarugaba, NSSF Uganda Managing Director
The Financial Year 2019-20 (FY 2019-20) has been a bag of mixed fortunes. The first half of FY 2019-20 was smooth, and the Fund performed well beyond its targets, collections and member registration, exceeding set targets and the economy seemed well on the road to recovery. This was rudely interrupted by the outbreak of the Covid-19 pandemic towards the end of December 2019. The real impact materi
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