Header advertisement
  • HOME
  • Business
  • Uganda @ 50: Byarugaba Tips on Strengthening Pensions Sector
Title

Uganda @ 50: Byarugaba Tips on Strengthening Pensions Sector

NSSF MD Richard Byarugaba

NSSF MD Richard Byarugaba

    By: Giles Muhame

  • Oct 9,2015
  • 613 Viewed

IN KIGALI, RWANDA

Celebrations to mark Uganda’s 53rd Independence Day celebrations are underway in Kigali, Rwanda.

Ugandans from all walks of life are gathered at Kigali Serena Hotel to mark a special day in the country’s history.

In attendance are Uganda’s Ambassador to Rwanda Richard Kabonero, Rwanda Foreign Affairs Minister Louise Mushikiwabo, NSSF Managing Director Richard Byarugaba and Knight Frank Rwanda MD Judy Rugasira among others.

Byarugaba has just given key remarks on strengthening the pension sector in the region, urging governments to desist from seeking funds from external sources and foreign aid.

He said money for big infrastructural projects such as roads should be raised from pension contributions of citizens.

Byarugaba advised that the percentage of monthly contributions to the pension funds should be raised, giving an example of Malaysia and Singapore which deduct 30 percent from savers’ salaries thus creating a sizeable pool of funds for investment.

Byarugaba said apart from Tanzania and Uganda, very few countries in Africa inject pension funds into infrastructure projects.

The NSSF boss further rooted for “greater professionalism and expertise in governance of pension schemes” to enhance economic growth.

To strengthen the sector, Byarugaba said governments should “support long term investments” and ensure institution have sufficient economies of scale to implement big projects instead of going abroad to look for funds.

He concluded by urging regional governments to create a transparent environment for which investments can be accomplished.

Cultural music dancers are currently entertaining guests as they enjoy dinner. Marcus Kwikiriza is the MC of the night.



# , # , #

Don't miss the stories AND LET'S go!!!

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...Loading...
 
Related Articles

National Youth Service Relaunched in Kenya

President Uhuru Kenyatta has relaunched the National Youth Service Youth Empowerment Programme with a warning that all officials charged with its implementation will be held

Minister Cautions Steel & Tubes Industries on Workers’ Safety

The State Minister for Labor and Industrial Relations, Hon. Kamanda Batarigaya has appealed to employers to prioritize the safety and health of their workers which

Uganda Billionaire Thakkar Inspires Young Entrepreneurs

Ugandan raised entrepreneur-turned-billionaire Ashish J. Thakkar yesterday gave out words of encouragement to budding Ugandan young entrepreneurs at the sidelines of an oil and gas

MTN Donates 100M to Boost the Rotary Family Health Days

MTN through its social responsibility vehicle called ‘MTN Foundation’ has donated sh109 million to boost a Rotary health project designed to avail free medical treatment

Kenya Cites Foul Play in Pipeline Deal, Vows to Retaliate

Uganda has  been accused  of conspiring with Tanzania to deny Kenya a final presentation on the construction of a new regional pipeline before a deal

Huawei Debuts P9, the World’s First Dual-Camera Smartphone

Huawei Consumer Business Group (BG) officially launched its newest phone dubbed ‘P9’ during an exclusive launch held at Dubai Design District in Dubai, United Arab

Uganda, Singapore Discuss Double Taxation Deal

Vice President Edeward Kiwanuka Sekandi on Tuesday met with Singaporean Minister of State for Trade and Industry Koh Poh Koon who led a delegation of

NSSF Trains MUBS Students on Growing Careers and Business

MUBS Students Makerere University Business School (MUBS) students have been encouraged to become innovative and seek the right information if they are to grow their

Barclays Africa Appoints Abdi Mohamed to Head Tanzanian Unit

Barclays Bank of Tanzania has announced the appointment of Abdi Mohamed as the new Managing Director, effective April 2016. Mr. Mohamed will be taking over

UPC Supports MPs’ Tax Exemption

Opposition Uganda Peoples’ Congress (UPC) have said they are in full support of a ploy by members of parliament to exempt themselves from paying Income

Header advertisement

Header advertisement

Header advertisement


Error, no group ID set! Check your syntax!
Latest News


FBL: Synergy Frustrate Proline’s Promotion Hopes

Kirinya-Jinja ss FC can no longer be ruled out of a direct promotional spot to t... (Read More)

AUPL: Villa Spank Bul in Jinja

SC Villa dreams of winning this year’s Azam Uganda Premier League title ha... (Read More)

Museveni Urges Investors to Exploit Uganda’s Tourism Potential

President Yoweri Museveni has called on investors to exploit Uganda’s tourism ... (Read More)

75% of NSSF Beneficiaries Waste their Savings, says Byarugaba

Social security in Uganda has made remarkable strides in the recent years especi... (Read More)

FDC Rejects Defiance Campaign Ban: ‘We’ll Be Martyred at Our Offices on Tuesday’

The opposition Forum for Democratic Change (FDC) have determined not to follow F... (Read More)

PHOTOS: Grief at Murdered Burundian General Kararuza’s Memorial Mass

A memorial service is underway at Lycée du St-Esprit Chapel in Burundi’s capi... (Read More)

Mbarara: 94 Year Old Hanged By Family

Police in Mbarara is investigating circumstances under which a 94 year old man c... (Read More)

Riek Machar: Salva Kiir Did Not Want to Hand Over Power

South Sudan rebel leader Dr Riek Machar this week arrived in the Capital Juba ab... (Read More)

Gen. Kayihura Warns FDC on Inauguration Demo

Following announcement of demonstrations by the leading opposition party FDC, ... (Read More)

NRM’s Justice Kavuma Has Banned Our Party – Besigye

The forum for Democratic Change former Presidential candidate Col Dr Kizza Besig... (Read More)

Politics

75% of NSSF Beneficiaries Waste their Savings, says Byarugaba

Social security in Uganda has made remarkable strides in the recent years especi... (Read More)

 

Error, no group ID set! Check your syntax!
Special Reports

UNTOLD STORY: Machar and the Night before South Sudan War

The plane carrying South Sudan rebel leader Dr Riek Machar touched down at Juba ... (Read More)
Travel

Rwanda Announces Date for this Year’s Gorilla Naming

Rwanda Development Board (RDB), the entity charged with promoting Rwanda’s... (Read More)
Like Us on Facebook