NSSF is carrying out a reorganisation exercise to reorient its business in order to meet its strategic objectives, the Fund announced this week.
NSSF Managing Director Richard Byarugaba said in a statement issued on Monday that the Fund has taken a decision to rightsize after critically examining the current health of the Fund and future prospects.
"In September 2010, we conducted a four day Strategic Plan workshop.
Throughout our deliberations, it unfortunately became clear that the current business model we are operating was neither viable nor profitable.
It would not deliver the results that our members expect from us," he said.
He said that although the FUnd embarked on decentralisation, the drive did not take off, resulting in underutilisation of staff that had been posted to the branches.
"On examination of our staff numbers, it became apparent that there was duplication of roles and underutilisation of staff," he said.
Byarugaba added that going forward, the Fund will focus on its core business i.e to grow member contributions and offer an above inflation return to its growing membership.
Click Rightsizing for efficiency to download the statement in full |
