THIS WEEK: NSSF unveils $400million Lubowa housing project The National Social Security Fund broke the ground for the construction of 2,740 housing units on its 565 acres of land in Lubowo, a Kampala suburb. Speaking at the ground breaking ceremony on Sept. 26, NSSF Managing Director, Richard Byarugaba, said the …
Read More »Technological innovations boost NSSF contributions
The National Social Security Fund’s move to shut down its old e-collection system and adopt a more advanced tech savvy portal last year coupled with increase in compliance has boosted its capability to collect more employee contributions, according to its Managing Director, Richard Byarugaba. KAMPALA, UGANDA |ISAAC KHISA| Byarugaba, who …
Read More »NSSF widens pension coverage with new saving plan
NSSF widens pension coverage with new saving plan Kampala, Uganda | JULIUS BUSINGE | The National Social Security Fund has unveiled a voluntary membership plan that will provide employers and workers that are not compelled by the mandatory provisions of the NSSF Act the opportunity to voluntarily save for their retirement Interested …
Read More »Leaders say bureaucracy frustrating OWC
ANALYSIS: ‘You’re to blame’. District bosses grill government officials, minister The trucks rolled up suddenly, without warning. But soon enough, the district Chief Accounting Officer (CAO), Esau Ekachelau, was informed of their mission: They had brought 800 bags of cassava cutting for distribution to farmers in the district. It was a …
Read More »HEALTH: Bird flu threat
Experts say worst is over – possibly The good news announcement from the Ministry of Health came on Monday Jan. 30: the strain of avian influenza that was recently responsible for the death of many migrating wild birds in Uganda is possibly not likely to cause so-called `bird flu’ disease …
Read More »Why NSSF will pay lower interest rate
NSSF to pay lower interest rate as economy bites Last year, the National Social Security Fund (NSSF) paid its members an interest rate of 13%, which means that for every Shs 1 million saved, a member got an additional Shs 130,000 credited on the account. This year it could less, …
Read More »NSSF grows by 18%, now worth sh6.58 trillion
Despite what he called a tough investment environment, Uganda’s National Social Security Fund (NSSF) has grown by 18% in the past year, Managing Director Richard Byarugaba said in Kampala today. “The Fund is worth sh6.58 trillion, an 18% growth from 5.55 trillion the previous financial year. Realized revenue went up …
Read More »We are not dishing bailout money – NSSF reassures
National Social Security Fund boss Richard Byarugaba has rubbished media reports that the institution would be providing a mind-boggling 1 trillion shillings to for an impending bailout of selected business moguls. The nation is grappling with tail-spinning details that emerged of President Museveni spearheading a life-saving campaign for heavily indebted …
Read More »NSSF and high-end houses
Analysts question feasibility of Shs 650m houses in glutted market yet demand is higher for low end accommodation At the beginning of this month, the National Social Security Fund (NSSF) commissioned a large-scale project worth Shs14.5bn to construct a housing estate at Mbuya involving 40 residential houses. This venture puts …
Read More »Byarugaba’s return to NSSF
By Andrew M. Mwenda How the fight against corruption is actually the way this evil has grown and consolidated in our country Two weeks ago, President Yoweri Museveni forced the minister of Finance to reappoint Richard Byarugaba as Managing Director of the National Social Security Fund (NSSF). The president argued …
Read More »