Peter Kimbowa appointed NSSF Board chair as Fund gets new bosses

Peter Kimbowa has been appointed as the new chairman for the National Social Security Fund (NSSF) Board of Directors.

Other members who have been appointed to the new board include, Patrick Ocailap, Aggrey David Kibenge, Fred K Bamwesigye, Sam Lyomoki, Silver Mugisha, Lwabayi Mudiba Hassan, Bahemuka Julius, Peninnah Tukamwesiga and Richard Byarugaba.

The appointments follow the expiration of the term of the 11th board which formally ended on August 31, 2021.

In July this year, the NSSF management asked the Finance Minister Matia Kasaija to 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” read NSSF letter to Minister Kasaija

The NSSF letter listed board chairman Patrick Byabakama Kaberenge, Patrick Ocailap, Florence Namata Mawejje and Peninnah Tukamwesiga as some of the board members that had served the two mandatory terms and are not eligible for renewal.

“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,” Agnes Tibayeita Isharaza,the Corporation Secretary of NSSF said recently.