The minister for Finance has appointed an 8 man team to serve as Board of directors of National social security fund for the next three years.
The board is chaired by Patrick Kaberenge who has been re-appointed in the same position. The other appointments include Pius Bigirimana, permanent secretary ministry of gender and Patrick Ocailap, the deputy permanent secretary ministry of finance as representative of government on the board. Florance Namata, general manager human resource at centenary bank has been also reappointed on the board representing employers.
The new appointees to the board are Bamwesigye Fred, the deputy managing director of civil aviation authority also representing employers and Dr. Isaac Magoola, the head of department business administration at Makerere University business school, also representing workers.
Speaking at the inauguration of the new board at NSSF head offices in Kampala, Minister Kasaija has noted that the appointment of the new board follows various consultations with key stakeholders and issuance of licenses to act as trustees by Uganda retirement benefits regulatory authority(URBRA) in pursuant to section 40 and 41 of the URBRA act.
The minister asked the board to abide by the governing laws, specifically the NSSF Act and Uganda retirement benefits regulatory authority Act (2011) as well as the internal policies and procedures.
The minister however clarified that the process to select a representative from the National organization of trade union(NOTU) is still ongoing.
" I have tasked NOTU to re- submit other nominees for consideration because their initial nominees did not make it through the vetting process. I'm confident that with NOTU's cooperation, this process can be concluded soon.
Nonetheless, Pursuant to section 3 of the NSSF Act, the Board is constituted and authorized to conduct business on behalf of the Fund," he said.
Kasaija told the new board that their mandate is to ensure that there is secure, profitable and effective financial management of the fund for the benefit of the workers in particular and the country at large.
"Your appointment comes at times when the fund is stable and performing exceptionally well. I therefore challenge you to provide the strategic direction needed to steer the fund to greater heights", he said.
At the same event, Patrick Kaberenge the board chairman has noted that the focus of this new board shall focus on unlocking the value of real estate projects of pension towers, completion of the first phase of Lubowa project, Nsimbe and Temangalo developments as well as using the right technology for pension administration.