NSSF Under Fire for Underperforming
Uganda’s National Social Security Fund, has come under criticism for contributing little to the economy and poor product innovation.
This is despite the fund growing its assets to Ush9.6 trillion from Ush1.7 trillion in 2010.
Civil society activist, Julius Mukunda says there is nearly Ush6 trillion lying idle on NSSF’s balance sheet that could have been invested in infrastructure projects which would have lowered the cost of government borrowing.
Mukunda says NSSF would have also done better for small contributors including business owners, by setting up a credit fund for loans of up to Ush10 million.