NSSF Capable of Mobilising Patient Capital For Long Term Financing-Musasizi

Finance Minister Henry Musasizi met the Board of Directors and Management of National Social Security Fund (NSSF) to discuss the status of the Fund, its operations and contribution to Uganda’s Tenfold growth strategy.

The team was led by the Chairperson of the Board Dr. David Ogong and the Managing Director, Patrick Ayota.

The Minister thanked the leadership of NSSF for growing the Fund from Shs 26 trillion in June 2025 to Shs 32.8 trillion by June 2026, adding that the Fund should continue prioritizing safety of workers savings but with a change in investment strategy.

He said NSSF can mobilise and provide patient domestic capital required to implement Uganda’s Tenfold growth strategy.

Patrick Ayota said the Fund has maintained member satisfaction at 95%. He said the target is to grow the Fund to Shs.80 trillion by 2035, adding that NSSF is ready to partner with government in the transformation agenda with focus on protecting member value, growing enterprises, jobs, formalization and mobilizing long-term domestic capital.

The Chairperson of the Board said NSSF is already investing in Tenfold growth priorities such as agro-processing, tourism, mineral based development as well as science, technology and innovation.

According to NSSF Leadership, Government needs to provide a bankable investment environment for member-value capital.

The Minister of State for Planning Amos Lugoloobi called for the improvement of the ecosystem for investment, adding that the Fund is well protected by the Law and should leverage the available resources to grow the economy.

The meeting was also attended by the Ministers of State for Privatization and Investment, Aminah Mukalazi and that of General Duties, Ciccy Mulondo.