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e-statement

Welcome to the NSSF E-statement feature. In our continued effort to serve NSSF members better, we have enhanced the e-statement feature to make it more user-friendly, quicker and easier and to access your e-statement online.



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Welcome to the NSSF pre-registration feature. Please note that only non-registered members are to use this feature.



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Welcome to the NSSF customer query feature. In our continued effort to serve NSSF members better, we have enhanced the e-statement feature to make it more user-friendly, quicker and easier and to access your e-statement online.



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Contributions

The NSSF covers all employers who have 5 or more employees between 16 and 55 years of age, with the exception of employees under the Government Pensions Act. The NSSF Act requires a registered employer is required to pay contributions to the Fund for his\her employees every month during which he/she pays salaries.

The NSSF Act also provides for voluntary membership for employers with less than 5 employees.

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Investment

NSSF collects members' contributions and invests them judiciously, and pays commensurate benefits to qualifying members. The money collected is maintained on individual member accounts, invested and earns an annual interest depending on our return on investments.

NSSF's Investment Policy provides for clear guidelines on investments. The Board and Management are mandated by the NSSF Act to invest the money on behalf of the NSSF members. Currently, NSSF has various investment interests in real estate, equities, and fixed income. The benefit for the member is that the member is assured of secure retirement.

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NSSF administers and pays qualified contributing persons the following benefits;
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Contact info

  • Plot 1 Pilkington Road,
    Workers House, 14th Floor

  • P.O Box 7140, Kampala, Uganda
  • Email: customerservice@nssfug.org
  • Phone: +256 313-331-755
  • Toll free: 0800 286 773
  • Website: www.nssfug.org

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NSSF increases stake in Umeme Limited to 23%

 November 07, 2016

           

MEDIA STATEMENT

 

NSSF INCREASES STAKE IN UMEME LIMITED TO 23%

 

In line with our statutory mandate to judiciously invest NSSF members’ savings, and our Investments Strategy, we have reached an agreement to buy 121,820,850 shares of Umeme Limited from Umeme Holdings Limited at a price of Ushs 488 per share.

 

This is an additional investment of about Ushs 59.4 billion in Umeme Limited. It effectively increases the Fund`s total stake in the company from 15.5% (251,951,071 shares) to 23% (373,771,921 shares).

 

At Ushs 488 per share, the Fund obtained a 7% discount given share price of Ushs 525 before suspension of trading, which is Ushs 4.5 billion discount on the total transaction.

 

This additional investment is in conformity with relevant laws and regulations, and the Fund’s own Investments Policy.

 

Our investment in Umeme Limited since it listed on the Uganda Securities Exchange has delivered impressive returns to the Fund.

 

  • - To date, the Fund has earned Ushs 22.27 billion in dividends since 2012.
  • - The Fund has enjoyed a holding period return of 89 %, since the IPO in 2012.
  • - The Fund’s investment cost before this transaction since the IPO in Umeme Limited is Ushs 81.7 billion. The total value of the investment is now worth over Ushs.132.3 billion, based on the share price before suspension of trading.
  • - Umeme Limited is one of the Fund’s best performing equity investments, and one of the best performing listed companies in East Africa.

 

Umeme Limited also enjoys attractive future prospects, making it a key holding in our equity investments portfolio.

 

The investment also fits well with our strategy to diversify our investments portfolio, a key component of our Corporate Strategy to grow the Fund to Ushs 20 trillion by 2025.

 

It also fits well within our plan to deploy capital in growing areas like the energy sector. Uganda still has one of the lowest electricity consumption per capita levels in the world, with only an estimated 15% of the population having access to electricity.

 

Umeme Limited also plays a critical role in enabling economic growth and development of Uganda through facilitating access to electricity. The ever increasing demand for electricity should lead to higher earnings for the company, and in turn a good yield on the Fund’s investment.

 

This additional investment in Umeme Limited confirms the Fund`s commitment to invest in the Ugandan economy. We will also continue to seek viable investment opportunities within the larger East African region to enable us pay a reasonable return to our members.

 

 

Richard Byarugaba

MANAGING DIRECTOR

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