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The Umeme Staff Pension Scheme was supposed to be like any other pension fund—steady, predictable, and focused on making sure members get their money on time. But instead of just…
In March 2018, Mr. Martin Nsubuga the Director of Supervision and Compliance at the Uganda Retirement Benefits Regulatory Authority (URBRA) was appointed to serve as the Ag. Chief Executive Officer and subsequently confirmed in June 2019. CEO East Africa Magazine’s Muhereza Kyamutetera sought him out on a number of developments in the retirement benefits sector. It was recently announced by South Africa’s Alexander Forbes Emerging Markets (AFEM) and Kent Holdings, a Ugandan entity that the latter had acquired the 51% held by AFEM in Alexander Forbes Financial Services Uganda Limited. Recently it was also announced that Stanlib, wholly owned by…
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By Our Reporter Following what transpired in a stakeholders meeting held on February 25, 2014 at Imperial Royale Hotel during a meeting which the Permanent Secretary and Secretary to the Treasury had recommended in an earlier meeting to consider the proposals in the Retirement Benefits Sector Liberalization Bill to enable concrete proposals to be made on the Clauses of the Bill on which stakeholders had concerns, Keith Muhakanizi has now come out to clear the air on what is being said that the bill had been withdrawn from parliament. In a document circulated to media houses Muhakanizi says, “I want…
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By Taddewo Senyonyi On June 28, 2011, the president of Uganda Yoweri Kaguta Museveni assented into law the Uganda Retirement Benefits Regulatory Authority (URBRA) Act 2011, with a major aim of regulating and controlling the pension sector. The Authority started receiving applications from retirement benefit schemes and market players in December 2012 since it is a requirement that every pension scheme and service provider be licensed prior to undertaking any business. However, there have been reports that the authority is failing to fulfill its mandate. The CEO’s Taddewo Senyonyi interviewed Andrew Kasirye, the Board Chairman, URBRA, about these claims and…
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