NSSF Targets Shs 20tn Fund Size by 2025

The National Resistance Movement party National Treasurer, viagra approved about it Rose Namayanja Nsereko on Tuesday evening underwent a successful thigh bone operation at Nakasero Hospital.

Ms. Namayanja on Tuesday morning while being driven to Luwero district for a community function was involved in a serious accident along Bombo road that saw her sustain a Femur Shaft Fracture.

Three other occupants in the car were injured including her mother Catherine Namirembe who broke her arm and sustained head injuries.

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Meanwhile, here the driver had hand injuries while the bodyguard struggled with severe chest pain.

ChimpReports exclusively reported last evening that the driver and bodyguard who were also admitted at the same executive medical facility were discharged while their principal (Namayanja) who got a serious degree of injury was to undergo an intensive four-hour operation.

Namayanja who spent the whole Tuesday afternoon at the Intensive Care Unit was ushered into the theatre room by doctors led by the country’s top Orthopaedic Surgeon, Dr. Ben Mbonye at around 4:00pm.

Thighbone (femur), according to information from medical sites, is the longest and strongest bone in the human body.

It usually takes a lot of force for it to break and this happens during car crashes.

Dr Mbonye told this website on Wednesday morning that by the time they entered the theatre, amputation was not among their expectations since the double thigh bone (Femoral Shaft Fractures) was not life threatening or gravely damaged owing to a number of scans done when she was rushed to the hospital.

“It was a successful operation and we had not expected any worst scenario. Amputation was totally out of question. The early medical tests indicated her thighbone fractures were not badly off,” said Dr Mbonye.

The fractured bones were successfully fixed though Namayanja, who is also the woman Member of Parliament for Nakaseke district, will have to learn to use clutches possibly in the next 10 days.

“We opened, examined and successfully fixed the broken bones with the special metals that will definitely help her,” the doctor added.

“She is still with us for one to two weeks depending on the speed of recovery. We will discharge her when she starts walking which is expected in within that period,” said Mbonye.
The National Social Security Fund (NSSF) has unveiled four key strategic imperatives that will enable the Fund size to grow by fourfold from the current shs 5.8 trillion to shs20 trillion by 2025 in an effort to retain and return better value to its members, drugs Chimp Corps report.

“The strategy that will deliver the customer experience will be based on; building a strong financial base so we can secure a better life for our members, pill innovating and becoming more relevant to our members, cure ” said Richard Byarugaba, NSSF Managing Director, at the third edition of the NSSF Annual Members Meeting (AMM) on Wednesday.

The Fund also targets to excel on business processes that touch members and make NSSF a delightful place to work for staff.

“A motivated and engaged workforce, supported by excellent processes, and a strong financial base that delivers superior results, will all work together to give members a reason to choose to stay with NSSF,” he added.

The Members Meeting attracted over 700 people, including NSSF contributors, employers, workers unions’ representatives, government representatives and members of the public, at Kampala Serena Hotel.

The remarks come at a time of strict scrutiny of the Fund’s operations especially the multi-million shilling investments.

The Fund recently bought a 2.4 percent stake worth $45.7 million at Equity Bank from London-based Helios EB Investors and intends to commit billions of shillings into property investments.

Customer satisfaction

Byarugaba said over the next 10 years, Fund objectives are to help the fund achieve growth in customer satisfaction to over 90 percent, provide members with a return of at least 2 percent above 10 year inflation, grow the Fund size to Shs20 trillion and become one of best pension Fund worldwide.

“To build a strong financial base, we aim at preserving our member savings through prudent investments that provide for a real return to members,” said Byarugaba, adding, “This will be determined by improvement in compliance and unlocking the value in key projects in Lubowa, Pension Towers and Temangalo.”

The three projects have been on hold due to corruption cited by whistleblowers and auditors in the procurement processes.

Finance Minister Matia Kasaija commended the Fund’s strategic plan and vision.

“As Government we shall maintain interest in the Fund. We are keen on seeing the Fund, the country’s National scheme and largest financial institution, continue to remain a major player in the sector and play an even bigger role in the economic development of the country,” he observed.

He challenged Bank of Uganda and other government statutory bodies to come up with innovative financial products such as infrastructure bonds and municipal bonds that provide a good return on investment to tap into the growing NSSF investment portfolio.

Officials said the annual meeting is in fulfilment of the Fund’s commitment to Transparency and Accountability.

At the same event, 25 companies were recognized for compliance over the last year basing on the “360 degrees compliance check.”

Barbra Arimi, NSSF Head of Marketing and Communications, said “For employers, these contributions should be remitted on time, and in the right amounts of money as per their legal obligations,”

The Fund announced an interest rate of 13 percent for the Financial Year 2014/15.


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