The newly appointed Managing Director of National Social Security Fund (NSSF), Mr Patrick Ayota, has unveiled the Fund’s new strategy in which he seeks to raise assets from the current Shs18.4 trillion to Shs50 trillion by the year 2035.

Addressing a press conference on Wednesday, 23 August 2023, Ayota said to achieve the strategy, they aim to elevate the country’s workforce enrolment from its current 10% to 50%.

“Both I and our deputy Managing Director are not new to the Fund as you have been apprised. This is a confidence vote by the Board and the Minister of Gender, Labour, and Social Development Betty Amongi, and a sign that the Fund has a robust succession plan in place,” he said.

Ayota said that in 2015, the Fund developed a 10-year Strategic Plan, which was anchored on growing the Fund to Shs20 trillion by 2025, improving Customer Satisfaction to 95%, improving Staff Satisfaction to 95% and paying the Age Benefit within one day.

“The Fund is now over Shs18.4 trillion, Customer Satisfaction is at 85%, Staff Satisfaction stands at 86% and our Benefits payment timeline stands at 9 days. I am glad to note that we are on course to meet, and in some instances surpass these targets by 2025,” he explained.

He explained that cognizant of the new legal mandate the Fund has, as envisioned by the NSSF Act, they have developed Vision 2035 which is anchored around 3 strategic pillars.

The pillars are expansion of social security coverage – from 10% to 50% of Uganda’s working population by 2035, growing the Fund – from the current Shs18.4 trillion to Shs50 trillion by 2035 and Efficiently serving their customers – targeting customer satisfaction rate from the current 86% to 95% by 2035

“To achieve the above objectives, we will deliberately seek to; create a willingness to save and create capacity to save. We will do so through Innovation and Agility. Creating a capacity to save simply means that the Fund will roll out a sustainability strategy focusing on job creation, intervening in the agriculture value chain, and supporting the innovation ecosystem. On the other hand, creating a willingness to save means that we shall implement empowerment programmes for our members through financial literacy, partnerships, increasing compliance, and innovating value-adding products,” he said.

Ayota said despite the turbulence, members trusted the NSSF Management.

“Working with the experienced and vibrant team at the Fund, I can commit that every decision will be in the interest of the member; we will create value; and we will be responsive to their needs,” he said.

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The city of Jinja has partnered with the organisers of the Nyege Nyege Festival to capitalize on business opportunities for the city’s residents and businesses.

As a result, the festival will be held in Jinja from the 9^th – 12^thof November at four conjoined venues within the city, namely the Source of the Nile; Jinja Showgrounds; Jinja Golf Course and; Source Gardens.

The announcement was made by the Jinja City Mayor, His Worship Peter Kasolo and other city officials alongside Derek Debru – the founder of Nyege Nyege; Robert Nsibirwa – Marketing Manager, Spirits at Uganda Breweries Limited and; Aly Alibhai – CEO of Talent Africa.

While addressing the press, His Worship Kasolo said, “As the Jinja City Council, we believe that this is an opportunity that has come to the people of Jinja because Nyege Nyege pulls a big number of international revellers from all over the world – who bring in revenue, and I encourage every person and business in Jinja to take advantage of this gathering.”

Last year’s festival, which was held at Itanda Falls, attracted 15,000 attendees – with 10,000 Ugandans, 3,000 Kenyans and 2,000 international guests.

This year, over 400 hotels in Jinja provide accommodation for all the guests while hundreds of businesses will directly or indirectly benefit from the festival by offering food, transport and other goods and services to the festival’s attendees.

Derek Debru, the founder of Nyege Nyege, said, “This year’s festival will be a real showcase of community involvement, and how music festivals can spark the imagination and dedication of an entire community and boost the local economy to leave a positive impact.”

Robert Nsibirwa – the Marketing Manager of Spirits at Uganda Breweries Limited, said, “We believe in the power of festivals to showcase the beauty of Uganda while creating a sustainable source of income for individuals within the creative industry. Thanks to Nyege Nyege, these benefits go beyond the creative ecosystem and spill over to the thousands of businesses within Jinja City – which will benefit greatly from the revenue that the festival and its attendees will bring.”

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TotalEnergies Uganda and Stanbic Bank Uganda have contributed Shs150m and Shs40m respectively, towards the 29th Uganda Manufacturers Association (UMA) Trade Fair due in October.

The trade fair is scheduled for 3rd to 10th October 2023 under the theme, “Driving Manufacturing and Trade Efficiency through Digital Transformation and Innovation.”

The trade fair is set to spotlight Innovation and World Class Manufacturing Excellence for local and regional manufacturers.

During the handover of the money on Wednesday August 23, 2023, the TotalEnergies Ag. Managing Director / Finance Manager Omotesele. J. Akinpelu said, “it is evident across the Ugandan and world economy that for the sustainability of any business, one must embrace digitalisation and do so quickly because the speed of its evolution is unmatched.”

“This encourages all of us as manufacturers not to be left behind as the other industries embrace digitalisation. We are excited to be part of this journey as we celebrate Uganda’s 61st Independence,” she said.

TotalEnergies gave the donation at the launch of the trade fair on Wednesday.

Phillip Otim, the Brand and Marketing Manager Stanbic Uganda, said they embrace the ethos of ‘Buy Uganda, Build Uganda, which the trade fair is promoting.

“We recognize and appreciate the leadership of the Uganda Manufacturer’s Association for maintaining a platform for our manufacturers to exhibit their ability and potential,” Otim said.

 Mr. Deo Kayemba, UMA chairman, who officiated at the launch of the fair, said by focusing on digital transformation and innovation, the fair aims to promote sustainable and eco-friendly practices, encouraging businesses to adopt technologies that reduce their environmental impact.

“This year we expect over 1,000 exhibitors, 30 country pavilions and 300,000 show visitors,” he explained.

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Prudential announced a $30,000 donation to Mulago National Referral Hospital inform of essential medical supplies such as safety boxes for syringes, heavy duty aprons, sterile and examination gloves etc
The donation, which is part of the Prudential Post COVID Recovery Funds initiative, is a significant step in Prudential’s commitment to the health and well-being of Ugandans and supporting vital institutions such as Mulago National Referral Hospital to boost their ability to provide exceptional medical care.
Tetteh Ayitevie, the CEO of Prudential Uganda, said COVID had impacted many people and institutions, emphasizing that there was need for collective action in journey to recovery.
“As we navigate the post-COVID landscape, Prudential Uganda remains committed to our community’s health and well-being. Our partnership with Mulago National Referral Hospital is a testament to our dedication of fostering a stronger and more resilient healthcare system,” he said.
Dr. Rosemary Byanyima, the Executive Director of Mulago National Referral Hospital, thanked Prudential and its community investment arm, noting that the support will be instrumental in ongoing efforts to enhance patient care and medical services.
“Mulago National Referral Hospital hosts one of the largest number of patients and to-date, it remains the epicentre of the fight against COVID. This contribution contributes significantly to our post-COVID recovery endeavours,”she said.
This Covid relief fund has been provided by Prudential Uganda with the support from the Prudence Foundation, the community investment arm of Prudential plc in Asia and Africa.

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