NSSF earnings surge to record Shs 2.53 Trillion, assets exceed 2025 target
The National Social Security Fund (NSSF) has reported a record-breaking increase in earnings for the financial year ending June 30, 2024.The Fund’s earnings rose by 15%, reaching Shs 2.53 trillion, up from Shs 2.2 trillion the previous year.Patrick Ayota, NSSF Managing Director, attributed this impressive growth to increased interest income, higher dividend earnings, and a boost in real estate income.“Income from all three asset classes we invest in saw a notable rise this financial year. Interest income grew from Shs 2 trillion to Shs 2.34 trillion, dividend income from listed and unlisted equities increased from Shs 145.1 billion to Shs 175 billion, and real estate income rose from Shs 11.9 billion to Shs 13.3 billion,” Ayota stated.Ayota highlighted that despite challenges, the year was favourable across East Africa. Uganda’s economy grew by 6%, inflation was controlled, regional stock markets recovered, and interest rates experienced a slight increase.The NSSF also achieved a significant milestone in asset growth, surpassing its 2025 target of Shs 20.25 trillion.As of June 2024, assets under management stood at Shs 22.13 trillion, reflecting a 19.2% increase from the previous year. The Fund continues to hold its position as the largest in East Africa by value.Deputy Managing Director Paul Kasaato credited the asset growth to a 13% increase in contributions and a 21% rise in dividends.Notable investments in MTN and Airtel contributed Shs 40.5 billion and Shs 22 billion, respectively. Additionally, the recovery of equity markets played a role in this growth.Member contributions also increased by 12.2%, rising from Shs 1.72 trillion in 2022/23 to Shs 1.93 trillion in 2023/24. The cost of administration decreased slightly from 1.02% to 1.00% of total assets.However, the amount paid in benefits declined from Shs 1.199 trillion in 2022/23 to Shs 1.120 trillion in 2023/24. This reduction was attributed to a decrease in the number of benefit claimants, from 48,115 to 44,250. Mid-term benefit payments also dropped from Shs 272.2 billion to Shs 176.6 billion.Ayota explained that many beneficiaries are choosing not to withdraw their savings, trusting the Fund to ensure the safety and growth of their investments.“This trust is a responsibility we do not take for granted,” he said.Looking ahead, the NSSF has launched Vision 2035, which aims to grow the Fund to Shs 50 trillion, extend social security coverage to 50% of Uganda’s working population, and achieve a 95% service satisfaction level by 2035.https://www.ugbulletin.co.ug/nssf-earnings-surge-to-record-shs-2-53-trillion-assets-exceed-2025-target/
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Ugandan Citizen Abducted, Held in Secret Detention for Three Months, Sparks Outrage and Calls for Justice
A disturbing new case of unlawful detention has surfaced, highlighting the ongoing human rights crisis in Uganda. A Ugandan citizen was reportedly abducted and held in a secret facility, known as a “safe house,” for three months, only to be released without charge or explanation. This incident, reported by NTV Uganda, has sparked widespread condemnation and renewed calls for accountability regarding human rights abuses in the country.
While the details surrounding the abduction remain unclear, reports indicate that the individual was taken without due process and held incommunicado—an action that has long been condemned by human rights organizations. The victim’s release, with no charges filed and no clear justification, has angered activists and citizens, who view this as yet another case of egregious abuse of power by the state.
“This is a recurring pattern,” said one human rights activist. “Abductions, secret detentions, and unexplained releases have become all too common in Uganda. These acts violate fundamental human rights and erode public trust in the justice system.”
The use of “safe houses,” unregistered detention facilities reportedly operated by security forces, has been a focal point in numerous allegations of torture and illegal imprisonment. Despite repeated calls from both local and international organizations for their closure and accountability for those involved, little action has been taken to address these violations.
This case underscores the urgent need for reform within Uganda’s security apparatus and greater accountability for human rights abuses. Observers hope that drawing attention to these injustices will spur concrete action to bring those responsible to justice and ensure the protection of basic human rights.
As frustration mounts, calls for both domestic and international pressure to hold the government accountable for such crimes grow louder. “One day, there must be accountability for all these crimes against our people,” stated one social media user, reflecting the sentiments of many Ugandans.
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NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests
National Unity Platform (NUP) President Robert Kyagulanyi has accused Ugandan security forces of using excessive force to disrupt a planned NUP gathering. The allegations were detailed in a statement shared on Twitter, following an event held to honor children of NUP supporters who were killed, disappeared, or detained for their political beliefs.
According to Kyagulanyi, security personnel, under the command of an officer identified as Asiimwe, carried out a preemptive operation early in the morning upon learning of the NUP’s plans. The forces allegedly stormed the premises, arrested workers, and deployed tear gas to disperse those present.
“The criminals under the command of one Asiimwe deployed early morning, arrested our workers, and threw tear gas into our premises. They’ve cordoned off the premises and blocked all people from accessing the place,” Kyagulanyi wrote.
Among those reportedly arrested were Saava Peter, Mudenya Samson, and Turyasingura Samson. Kyagulanyi claimed the detained workers were subjected to beatings and interrogated about their political affiliations, with security operatives labeling them as terrorists.
“These JATT operatives asked the workers who they support politically, branding them terrorists and criminals—their only crime being that they work with us. You can imagine the indignity!” Kyagulanyi lamented.
This incident adds to the growing tension in Uganda’s political climate, where opposition parties frequently accuse the government of stifling dissent. Despite the challenges, Kyagulanyi ended his statement with a message of defiance and optimism, proclaiming, “UGANDA WILL BE FREE.”
NUP Gathering Disrupted: Kyagulanyi Alleges Security Force Harassment and Arrests
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Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum
Sudan has demanded an official apology from Uganda over “offensive and dangerous” comments made by the chief of Uganda army staff, who threated to invade Khartoum, the Sudan Tribune has reported.
General Muhoozi Kainerugaba, son of Ugandan President Yoweri Museveni and CDF of the Ugandan army, posted two comments on the X platform on Tuesday in which he threatened “to capture Khartoum” with the support of the US President elect Donald Trump after he takes office. The posts were deleted later.
“The government of Sudan demands and official apology from the Ugandan government for the offensive and dangerous comments of the army commander,” Sudan’s foreign ministry said in a statement that the Sudan Tribune said it has seen.
Sudan Demands Apology from Uganda Over Army Chief Muhoozi Kainerugaba’s Threat to Invade Khartoum