NSSF gets new Board
Posted Sunday, June 3 2012 at 00:00
Government has appointed Mr Ivan Kyayonka as the new National Social Security Fund board chairman bringing an end to Mr Vincent Ssekono’s three-year tenure at the helm of the prestigious but delicate position.
Mr Kyayonka is currently the country manager of Shell Uganda, a position he has held for over a decade. With a rich experience he has largely acquired in the corporate world, Mr Kyayonka’s strength lies in his organisational capabilities and passion for what he does.
The new board, which is yet to be formally announced consists of Mr Kyayonka as the Board chairman, with Chris Kassami, the PS, Ministry of Finance, Mr Christopher Kahirita (Chairman Coftu), Mr Richard Bigirwa (General Secretary, Hotel Union) and Managing Director Richard Byarugaba. Others are Agnes Kunihira, Henry Mukasa, Musa Okello and Sarah Walusimbi.
Mr Kahirita and Bigirwa were nominated by the workers union and will represent workers’ interest. Mr Ssekono was appointed as board chairman in April, 2009 by the then Minister of Finance, Ms Syda Bbumba, to serve for a period of three years.
The board was appointed in a crisis period when the Fund was facing serious challenges, most of which were historical such as losing money in bad investment decisions, mismanagement and corruption.
The outgoing board pointed in a statement last year that one of its biggest achievements has been building a huge financial institution in the country. NSSF asset base stands at Shs1.6 trillion. It also said collections from contributing workers have gone up from Shs263 billion in June 2009 to Shs295 billion as at the end of June 2010, accounting for a growth of 12 per cent.
Mr Ssekono also pointed in the 2011 statement that the number of qualifying workers are now promptly receiving their benefits from NSSF when they are due. From June 2009 to June 2010, NSSF paid Shs66 billion to 11,155 members, compared to Shs41 billion paid to 7,861 members in 2008/2009. The Fund currently pays on average, Shs5.6 billion per month to qualifying members.
Mr Ssekona and Workers MP Sam Lyomoki said they were not aware of the new appointments.