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The National Social Security Fund (NSSF) is projecting robust performance at the close of the Financial Year 2024/25, with income expected to reach UGX 3 trillion and assets under management forecasted to grow to UGX 25 trillion—marking a continued upward trajectory for Uganda’s largest retirement benefits scheme. This projection represents significant year-on-year growth, building on the UGX 2.53 trillion in income and UGX 22.13 trillion in assets that the Fund recorded at the close of the Financial Year ended June 30, 2024. In light of the strong financial performance, NSSF is expected to declare a competitive interest rate to members…
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Mr Patrick Ayota’s inaugural year as Managing Director at the National Social Security Fund (NSSF) coincided with the announcement of the Fund’s annual financial performance last week. Mr Ayota took over last year in August after NSSF weathered the storm of Parliament hearings into the management of the Fund. In his reflection on the NSSF performance, he says, the past year stood out as one of resilience, determination, and remarkable performance. “Despite the intrusive months of rigorous public investigation inquiry, we emerged from a challenging year even stronger. Our strong governance prevailed and sustained us. Member trust in NSSF…
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MTN Uganda has contributed UGX 42.5 billion to the Uganda Communications Commission’s (UCC) Universal Service and Access Fund, aimed at developing telecommunications services in underserved areas. The funding marks a significant increase from last year’s contribution of UGX 36 billion. At a press briefing held at the UCC headquarters in Bugolobi, a Kampala city suburb in the Ugandan capital on Friday, the telecom company highlighted its ongoing commitment to driving substantial change and bridging the digital divide in the country, which is a dedication to not just meeting but exceeding its licensing obligations. “We believe that everyone deserves the benefits…
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