The National Social Security Fund is set to get a new board of directors as majority of the current board expire this month.
According to the July 22, 2021 letter from National Social Security Fund to the Minister of Finance titled expiry of the NSSF 11th board directors’ term, it says the board formally ends on August 31.
“This is to request that you urgently consider and determine the composition of the 12th board in time to enable a smooth transition. The timing of the appointment of the 12th board is especially critical to enable the fund to comply with the statutory obligations relating to approval of the fund’s financial statements for the financial year ended, and relatedly your declaration of the annual interests to members” reads NSSF letter to Finance Minister Matia Kasaija
The NSSF letter lists board chairman Patrick Byabakama Kaberenge, Patrick Ocailap, Florence Namata Mawejje and Peninnah Tukamwesiye as some of the board members that have served the two mandatory terms and are not eligible for renewal
This website understands that the other two that are to be replaced are Peter Christopher Werikhe representing worker from National Organisation of Trade Unions and and Stephen Mugole also from the same union. Both Werikhe and Mugole have served a their first term and are eligible for reappointment but the law bars them since they are Members of Parliament.
Mugole is the MP for Kabweri county while Werikhe is MP for Bubulo West.
Kaberenge has previously clashed with Minister Kasaija on the Midterm access to the funds as regards the government position. He is also reported to have contradicted the president in meetings that culminated to Mid term position.
This website can further reveal that Kasaija has written to various constituencies that have interests in the fund to nominate names for the new board.
“The NSSF letter to Kasaija further asks Kasaija to consider people with skills in investment,project management, accounting and finance so as to manage and understand their supervisory roles.
“On relatedly Hon. Minister, I also wish to highlight some key findings of various board evaluations at the fund for your kind considerations as you appoint the 12th board. It has been recommended that board members should have appropriate technical skills to enable them effectively supervise management. given the nature of the fund business. Some of the key skills that have been highlighted as missing on the recent board are in the areas of investment and project management, information technology, real estate, risk management and accounting and financial management. The evaluations have also highlighted the need to address the gender disparity on the 11th and previous boards”. reads Agnes Tibayeita Isharaza’s letter.
Ms Isharaza is the Corporation Secretary of NSSF.
Those that have served their first term and are eligible for reappointment are Bamwesigye Fred, the deputy managing director of civil aviation authority also representing employers and Dr. Isaac Magoola, the head of department business administration at Makerere University business school, also representing workers and Aggrey Kibenge Permanent government representative and Secretary Ministry of Labour. The other person is the Richard Byarugaba NSSF Managing Director.
