The air was electric with optimism as more than 200 women gathered for the Girls for Girls (G4G) Summit, a landmark event themed “Embracing Change and Leading with Courage.” From…
PostBank Uganda’s Chief Financial Officer, Peter Ssenyange wins big at the just concluded annual Chief Financial Officer (CFO) Awards which seek to celebrate exceptional leaders in the finance industry, as…
The Association of Chartered Certified Accountants (ACCA) Uganda and Deloitte Uganda last evening hosted the 9th Edition of the Chief Financial Officer (CFO) Awards at the Kampala Serena Hotel, celebrating…
When Patrick Michael Ayota was appointed Acting Managing Director of the National Social Security Fund (NSSF) in December 2022, he stepped into an institution in the midst of a politically…
Old Mutual Investment Group has unveiled a strengthened governance bench with two strategic appointments: veteran financial services executive Richard Patrick Byarugaba as Board Chairman, and seasoned corporate leader Charles Ernest…
The National Social Security Fund (NSSF) has launched a new initiative aimed at integrating informal sector workers, particularly those in small-scale agriculture, into Uganda’s social security system. The Livelihoods Support Project, unveiled in Otuke district on Friday 4th October, is an important step towards broadening NSSF’s reach and ensuring social protection for workers who have traditionally been outside formal savings systems. Speaking at the launch, NSSF Managing Director Patrick Ayota emphasized the importance of this initiative, stating that the project is central to the Fund’s strategic vision of enrolling at least 50% of Uganda’s working population into the social security…
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The National Social Security Fund (NSSF), Uganda’s national savings scheme, has hit UGX 20 trillion in Assets Under Management (AUM), one and a half years ahead of schedule. The Fund had until the end of FY2024/25 (end of June 2025) to hit the UGX20 trillion targets, but as of February 29, 2024, the Fund’s assets under management stood at UGX20.018 trillion. In 2015, the Fund launched the 2015-2025 Strategic Plan, with a key strategic objective to grow the Fund’s Assets Under Management to UGX 20 trillion by 2025. The other strategic objectives were the improvement in business processes to pay…
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The just-announced FY2022/23 was quite surprising for many a stakeholder. Given what happened in the financial markets, here and globally but more importantly, the ‘negative noise’ that dominated much of the second half, many a stakeholder didn’t expect better performance than what we experienced in FY2021/22. It is an amazing story. If you look at what the fund went through in the last six months of FY2022/23, I can say it really tested the trust that the members have in the Fund. To put it into perspective, we had a contribution target of UGX135 billion per month in FY2022/23. As…
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Despite significant market turbulence home and away, Uganda’s National Social Security Fund’s (NSSF) revenue increased by 15% from UGX1.9 trillion to UGX2.2 trillion for the Financial Year ended June 30, 2023, Managing Director Patrick Ayota has announced. Addressing the media at the NSSF Annual Media Roundtable, Ayota attributed the growth to increased earnings from interest income from UGX1.79 trillion to UGX2 trillion and dividend income which grew from UGX84 billion to UGX139 trillion. Income from the Fund’s real estate projects also slightly increased from UGX13.4 billion to UGX14 billion. “Other income” also increased to UGX16 billion. “Overall, the investment environment…
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The NSSF Board has recommended to the Minister of Gender, Labour, and Social Development, Hon Betty Amongi, who has accepted to appoint Gerald Kasaato as the Deputy Managing Director of the National Social Security Fund (NSSF). Kasaato has previously been the Chief Investment Officer of the UGX18.4 trillion Fund. He brings to the new role, a wealth of knowledge in investment and portfolio management, corporate and international finance, risk management, financial reporting, accounting, and taxation as well as strategy formation and execution. He is also skilled in people leadership, operations management, financial economics, sales and marketing, Project management, property management…
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