NSSF told to mobilize and provide patient domestic capital required to finance the country’s development agenda
NSSF Board Chairperson Dr. David Ogong said the Fund is already investing in sectors aligned with the government's Tenfold Growth Strategy, including agro-processing, tourism, mineral-based industrial development, and science, technology and innovation.
The Minister of Finance, Plannint and Economic Development, Henry Musasizi, has met the Board of Directors and Management of the National Social Security Fund (NSSF) to review the Fund’s performance, operations and its potential contribution to Uganda’s Tenfold Growth Strategy.
The meeting was attended by the Chairperson of the NSSF Board, Dr. David Ogong, the Managing Director, Patrick Ayota, Minister of State for Planning Amos Lugoloobi, Minister of State for Privatization and Investment Aminah Mukalazi, and Minister of State for General Duties Cissy Mulondo.
Musasizi applauded the Fund’s leadership for growing NSSF’s assets from Shs26 trillion in June 2025 to Shs32.8 trillion by June 2026, describing the growth as a significant achievement in safeguarding Ugandan workers’ savings.
He, however, emphasized that while protecting members’ savings should remain the Fund’s top priority, NSSF should adopt an investment strategy that supports Uganda’s economic transformation.
The Minister said the Fund is well positioned to mobilise and provide the patient domestic capital required to finance the country’s Tenfold Growth Strategy, which seeks to expand Uganda’s economy through strategic investments.
Speaking during the meeting, NSSF Managing Director Patrick Ayota said the Fund has maintained a 95 percent member satisfaction rate, reflecting continued confidence among contributors.
Ayota revealed that NSSF aims to grow its assets to Shs80 trillion by 2035 and is ready to partner with government in advancing Uganda’s transformation agenda.
He said the Fund’s priorities include protecting members’ value while supporting enterprise growth, job creation, formalisation of the economy and mobilisation of long-term domestic capital.
NSSF Board Chairperson Dr. David Ogong said the Fund is already investing in sectors aligned with the government’s Tenfold Growth Strategy, including agro-processing, tourism, mineral-based industrial development, and science, technology and innovation.
According to the Fund’s leadership, creating a bankable investment environment is essential to enable NSSF to deploy members’ savings into productive investments while preserving value.
Minister of State for Planning Amos Lugoloobi called for continued improvements in Uganda’s investment ecosystem, noting that the Fund is adequately protected under the law and should leverage its growing resources to support national economic development.
The meeting underscored government’s expectation that NSSF will play an increasingly strategic role in financing Uganda’s long-term development while maintaining its core mandate of protecting workers’ retirement savings.
