NSSF to receive sh7bn from Ugandan companies.

By Estella Jones

Savers could receive higher interest on their savings.
The National Social Security Fund (NSSF) is set to receive dividends amounting to Shs 7.13b for its stake in the Ugandan listed companies.

From its equities spread in different firms, the Fund generates returns of between 40 per cent and 50 per cent.

NSSF is a top investor in Bank of Baroda, Dfcu, Stanbic, New Vision, Uganda Clays and Umeme, it has also invested widely across East Africa.

In Kenya, it has stakes in Safaricom, Centum, Equity Bank and KCB.

NSSF Managing Director, Mr. Richard Byarugaba said that such returns on investment could push members into receiving higher interest on their savings at the end of the year. 

“Increasing our exposure to equities offer us an opportunity for diversification, hence enabling us to get a good return from the fast-growing companies, and Umeme has been a great example of this kind of investment,” Mr. Byarugaba said.

NSSF early this year, increased its stake in Equity Bank to 2.44%, pitting it in the top 10 of the companies.