NSSF can be catalyst for a self-sufficient economy

Special 40th Anniversary Edition

Full magazine

I want to congratulate the National Social Security Fund (NSSF) – Uganda, upon reaching the remarkable milestone of 40 years of existence. As you commemorate your 40th Anniversary, I want to recognise the significant role of the past and current contributors, Board Members, Management and Staff, to the Fund’s success. I commend you all for guiding the Fund on a great journey of growth and transformation.

I am pleased to note that currently, the Fund boasts of an asset base of approximately UGX 32 trillion. This big achievement has made the Fund the biggest mobiliser of domestic savings. Therefore, given this big capacity, it is high time NSSF invested in key infrastructure projects, such as toll roads. This is a more profitable business venture compared to investing in government bonds. While the government will continue building public roads, NSSF can also construct its own toll roads for the rich, who don’t have time to waste in traffic jams. For instance, you can consider constructing the Kampala-Jinja Expressway. It would be owned by NSSF. Such a strategic project would prove to be more profitable and boost national and regional trade. The African economies must develop mechanisms to fund their development needs, in order to be independent and self- sustaining. We must develop home–grown solutions to our domestic challenges.

In conclusion, I once again congratulate the National Social Security Fund on its 40th Anniversary; and look forward to its continued contribution to the socio-economic transformation of Uganda.

I thank you all.

H.E. Gen. (Rtd) Yoweri Kaguta Museveni,

President of the Republic of Uganda