The National Social Security Fund (NSSF) has earmarked on a 14.5 billion shillings project to construct 40 housing units in Mbuya, Kampala suburb. The Managing Director National social security Fund Richard Byarugaba says, the money is part of the 480 billion shillings which the fund is set to invest in Real Estate development projects in Uganda.

Byarugaba said that  the 40 apartments will be constructed on 3 acres of land located in Mbuya and the construction will be completed within a period of  24 Months. He said that  the construction of the housing units will be sold  out to the community and, its projected that the Fund will earn a return in profits totaling to 20% on the Fund investments. He said that this estate will give Kampala a face lift and provide highclass house units to residents.

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Kyayonka Ivan is dead

Darkness has befallen again, Ivan Kyayonka is dead. Kyayonka breathed his last at Nairobi Hospital in Kenya on Friday 8th May 2015 where he had been admitted.

He has been serving as the board chairman of National Social Security Fund (NSSF).

Kyayonka was appointed to this position on 1^st  June 2012 for a three year’s contract.

At the time of his death, Kyayonka had transformed NSSF to a level that is admirable.

His efforts  saw NSSF’s Total Assets grow by 61 percent from Ushs 1.6 trillion in June of 2012 to Ushs 4.5 trillion in June 2014.

In the same period, contributions grew by 34 percent from Ushs 162.8 billion to Ushs 635.7 billion while interest rates grew from 10% to 11.5%. Benefits paid out to members also grew by 64% from Ushs 64.5 million to Ushs 165.9 billion.

Besides NSSF, he also served as the Country Chairman of Shell Uganda; a company he joined in 1982 after graduating as an Engineer.

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The report implicates the former finance minister Gerald Sendaula, the Board Chairman Ivan Kyayonka, Deputy Executive Director NSSF Geraldine Sali, and Former Minister of Finance Maria Mutagamba among others in the mismanagement of the fund.

The Committee recommended that former Finance minister be held responsible for loss of UGX500M spent on recruitment in NSSF whose results were largely ignored.

The report also recommended that NSSF MD Richard Byarugaba, Board chairman Ivan Kyayonka be compelled to refund the loss incurred of 56 Million Shillings of Namirembe Land purchased below cost price.

The report was presented on the floor of parliament by Kiboga Woman MP Anna Maria Nankabirwa a member of the committee.

NSSF currently has a membership of about 1,319,345 although out the total membership, only 578,000 are active.

Every month NSSF receives between UGX 50 and 60 Billions in form of contributions from the members. AS of June 2014, NSSF was worth 4.34 Trillion.

Parliament will discuss report during the week that starts on Sunday 22^nd March 2015.

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The Danish came to Uganda as investors but the workers in one of their companies have petitioned the National Social Security Fund (NSSF) to help them to recover their pension savings allegedly misused by the Danish investors.

The workers at Bright Chicks (U) Ltd, a company owned by the Danish, wrote to the deputy managing director of NSSF, Geraldine Ssali, that the Danish investors swindle their savings.

Bright Chicks Uganda Ltd is one of the leading chicken processing firms in Uganda. The workers allege that the Danish investors had been fleecing their money since 2007.

The Ugandan laws provide that companies and factories are supposed to deduct 5% of their worker’s salary and contribute 10% for every worker totaling to 15% and remit it to NSSF.

Emmanuel Anyi, an official at the Danish

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A panel of seven Supreme Court Justices led by the Chief Justice Benjamin Odoki have ruled in favor of the National Social Security Fund.

The judges have allowed an appeal by the NSSF challenging a 40bn shilling award to Alcon International Uganda that was not party to the signed contract to construct Workers House.

The construction company sued NSSF seeking compensation for arbitrarily terminating its contract to build Workers House.

In 2009 the Court of Appeal dismissed all grounds given by NSSF, and upheld the lower court’s multi-million dollar award to Alcon.

Richard Byarugaba NSSF Managing Director

The NSSF then filed an appeal at the Supreme Court that stopped payment of the said amount to Alcon on grounds of breach of contract.

The same court has faulted the lower courts’ decisions of using fraudulent information that was deliberately concealed by directors of Alcon International Kenya during the signing of the contract.

Court also discovered that Alcon Kenya misled the NSSF when it substituted one company with another during the signing of the contract, and that Alcon Uganda did not have the expertise to do the job.

The Judges have now ordered that the matter be referred back to the High Court because no party had agreed to arbitration.

The ruling was read by the Deputy Registrar of the Supreme Court Godfrey Opuseni.

The NSSF Managing Director Richard Byarugaba has welcomed the ruling.

Here is the full ruling of the the Supreme Court

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The committee chaired Paul Mwiru noted that a total of 161.6 million shillings was paid to employees of NITA-U and established that social security contributions to the tune of 24.2 million shillings were not remitted to NSSF contrary to the law.

Mps who include Emma Boona, Alex Byarugaba, also observed that 24.2 million shillings in respect of 5% employees’ contributions to NSSF was not recovered from the wages of seven employees during the financial year 2009/10.

Mps directed Samanya to avail to the committee all names of ICT officials who failed to remit employees NSSF contributions and the names of employees whose NSSF was not remitted.

In his response the ICT Samanya promised to cooperate and give details of the matter to the committee as directed.

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We have been told that NSSF is looking for bids from eligible bidders for the provision of the risk management software system. As usual bidding will be conducted in accordance with the open international bidding procedures contained in the government of Uganda’s public procurement and disposal of public assets act, 2003, and is open to bidders from source countries.

Interested bidders obtain further information from NSSF and inspect the bidding documents at the procurement and disposal unit. We have been told by NSSF officials that a complete set of bidding is for purchase on the submission of an application to NSSF.

The bidders will be required to present proof of the deposit to the NSSF cashier and they will then be given a receipt.

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Former Managing Director of Uganda’s National Social Security Fund (NSSF) David Jamwa may be facing corruption charges over mismanagement of NSSF funds but he is still rich, wealthy and coughs money wherever he goes.

The former NSSF chief has reportedly bought a luxurious state of the Jaguar. Jamwa, who is also a supporter of the ruling National Resistance Movement and a friend to Uganda’s prime Minister, Amama Mbabazi has been sighted many times this week driving this car in Uganda’s Capital City Kampala.

Other people wonder why Jamwa puts on shades whenever he cruises this state of the art Jaguar. Jamwa sacked all his drivers immediately he was fired from NSSF. Jamwa has series of other posh cars and houses in Kampala.

By Christine Kate

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Officials from the national standards body say the delay in government guarantee has caused them higher costs of hiring office space in different parts of the country.

The officials lead by the Executive director Dr. Terry Kahuma told the members of parliament on trade and industry committee that some of the costs have been out going towards rent of the five different places within the city centre.

Uganda national bureau of standards finance and administration manager, Davis Ampwera told the MPs that following the acceptance of the loan request from the NSSF all they now awaits is government guarantee.

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The managing director NSSF Richard Byarugaba says over 1000 companies registered.

Byarugaba made the remarks while announcing new innovations for the fund.

He says in the new innovations which have been introduced, customers will be able to access contribution balances using their mobile phones.

He says the new innovation will enable the fund to save over 50 million shillings, which the institution has been spending, on the service each year.

He says the introduction of the new services is intended to encourage transparency, adding that customers will also be able to use face book to interact with the institution by giving suggestions to the institution.

Ultimate Media

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