The Minister of Gender Labor and Social Development, Betty Amongi has inaugurated a new Board of Directors for the National Social Security Fund (NSSF). The board will serve for three years, effective September 1, 2024.
The new board members include Dr. David Ogong, who will serve as the chairperson; Ramathan Ggoobi; Patrick Ayota; Aggrey David Kibenge; and Peninnah Tukamwesiga, who will serve as members.
Others are: Dr. Sam Lyomoki, Annet Birungi, Richard Bigirwa, Annet Mulindwa and Eng. Silver Mugisha.
Speaking earlier today, the outgoing chairman, Dr. Peter Kimbowa, said he has been a team leader, but leadership is collective. I have been part of the team and not on top of the team.
“I would like to thank the 12th board for the resilient and insightful strategies we’ve executed since 1st September 2021, and the impact they’ve created. I would also like to thank NSSF’s management and staff, as a global and local consultant, I can attest to the fact that the Fund is one of the most resilient and innovative organisations,” he said.
He said that they had phenomenal growth with assets under management growing from Shs17 trillion when we came to over Shs21 trillion. The diversified portfolio and forward-looking policies of the Fund have yielded results for members.
Amongi applauded the outgoing board for the role you played, especially growing the fund from Shs17 trillion when you took over to over Shs22 trillion.
She said nothing a board can do without a competent technical team. Over the period I have worked with you, I have noticed you are very hardworking, meticulous, and innovative, but most importantly, you have a firm desire to protect the Fund.
“Management has had to make very difficult decisions, and you always keep firmly in line with the procedures and legal framework, even if it may not please the political class. I encourage you to remain firm even in the most difficult circumstances.” She said.
She urged the new board to safeguard the fund’s land against any illegitimate claims and innovate in managing real estate to increase uptake. She encourages it to thoroughly evaluate each investment before committing members’ funds, ensuring you invest only in strategic areas that will deliver returns for our members.
