The National Social Security Fund (NSSF) has appointed Kenneth Owera as its substantive Chief Investment Officer (CIO). He will steward the Fund’s UGX28 trillion investment portfolio with the target of…
The Anti-Corruption Court recently issued fresh criminal summons against embattled former Permanent Secretary Geraldine Ssali, directing her to appear and answer charges in the long-running UGX3.8 billion war compensation fraud case. The summons, captured in the latest court communication and referenced in ongoing proceedings, underscores that the legal storm surrounding Ssali is far from over. The new directive comes at a time when her co-accused, including Busiki County MP Paul Akamba, have already appeared to face charges, while Ssali herself has missed earlier sessions on account of procedural delays. The court’s insistence that she now appears in person reflects a…
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To understand Stevens Mwanje is to understand the balance between numbers and humanity. A finance professional of 30 years, Mwanje has built a career defined by quiet discipline, strategic clarity, and a deep respect for people. Since joining NSSF in 2010 and later becoming CFO in 2017, he has emerged as one of the institution’s most influential leaders, shaping culture, strengthening systems, and mentoring future executives. In this interview with CEO East Africa Magazine, he opens up about his personal journey, the lessons that shaped him, and how he keeps teams performing at their best. How do you keep up…
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The National Social Security Fund (NSSF) is seeking to recover more than UGX708 million in unpaid rent arrears due to Goodra Tumusiime Behakanira. Goodra, a Kampala businesswoman, is the widow of the late Joseph Behakanira and the former owner of Avemar Shopping Mall and J&M Airport Road Hotel. According to court documents filed through the Commercial Division of the High Court, the arrears stem from a breach of a tenancy agreement signed between NSSF and Goodra in September 2019, and later amended in February 2020. The agreement allowed Goodra to lease space for a supermarket, basement stores, a conference hall,…
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Uganda is traditionally viewed as one of the world’s youngest nations, with nearly half the population under 18. Yet behind this youthful imagery lies a silent demographic shift: the number…
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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Uganda’s biggest Fintech, MTN Mobile Money (MoMo), is moving out of the family home. Long treated as just another product line within the telecom’s machinery, MoMo is being carved out into a separate corporate entity—MTN New FinCo—with ambitions to scale faster, partner globally, and perhaps one day join Africa’s elusive unicorn club. It’s a shift more than a decade in the making. Launched in 2009, MoMo lived for years as a revenue-generating cog inside MTN Uganda’s telecom engine. Its financials were buried within a blended mix of voice, data, and airtime earnings. Even after the 2021 National Payment Systems Act…
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Uganda’s National Social Security Fund (NSSF) is to acquire 10.55% of the total shares outstanding of Airtel shares in the ongoing Initial Public Offering (IPO) for a consideration of UGX199 billion (USD53 million), the two entities have announced. ‘The investment reflects the confidence that the NSSF has in the telecommunications sector, the prospects of the Company and the quality of its management team. The Fund’s investment in Airtel gives an opportunity for millions of NSSF members to own part of a successful company in a fast-growing sector known for innovative services,” NSSF’s Managing Director, Patrick Ayota and AIrtel’s Manoj Murali…
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The National Social Security Fund (NSSF) has earned a total of UGX 31.5 billion as dividends for the year ended December 31, 2022, from its investment in MTN Uganda. NSSF Uganda, East Africa’s largest national savings fund by value, invested UGX 360 billion in December 2021 to acquire 1.98 billion shares in MTN Uganda following its Initial Public Offer (IPO) in December 2021. The payment is the single largest dividend earned by the Fund to date, in addition to UGX 9.32 billion earned last year from Uganda’s largest telecommunications operator. It follows the approval of payment of a final dividend…
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