NSSF to turn focus on regional investments

Thursday February 12 2015


KAMPALA. In the next three years, the National Social Security Fund will focus on buying stakes in profitable companies across the East African region without losing sight of the profitable investment in the country, the Funds managing director, Mr Richard Byarugaba, has said.
Speaking at a news conference on Tuesday, Mr Byarugaba, who is serving his second and last term, said the Fund will put its money in areas that attract high returns on investment.
He said: “We will focus on equity investment because the returns we have attracted from that portfolio speak for itself.”
He continued: “We have attracted 44 per cent return from the equities, 14 per cent from the fixed incomes and 1 per cent on real estates. This explains where our focus will be in the next three years.”
He, however, disclosed that attempts to complete construction of Pension Towers, Lubowa Estates and Temangalo are underway. He also hopes that before his three-year term comes to an end, at least the first phase of the Pension Towers will be complete.
Importantly, he revealed that returns on members’ savings should be able to withstand inflationary pressures throughout the next 10 years.
He said: “I will continue to give you the best return on your savings. And this is something I would want to commit to. For example, we look at 10 years ahead and what we give you will always be above inflation for that period.”