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NSSF’s jinxed top job

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By The Independent Team

Abel Katembwe

May 1998: NSSF board dismisses demands by parliament to send Katembwe on forced leave. NSSF initially resists and board chairman Sam Rutega defends him before parliamentarians as a hard working manager. But eventually Katembwe is sacked.

Katembwe’s woes started after he bought a house for the managing director in Mbuya, Kampala at Shs 200 million. But after refurbishment the cost of the house had climbed to a suspicious Shs 400 million.

There was also the loss of $1.4 million in a shoddy venture with Alcon Construction, the company that had been contracted to build Workers’ House.

His deputy Yoram Barongo takes over.

Katembwe later made a come back and claimed Shs 72 million from the Fund.

Dr Yoram Barongo

March 1998: Appointed acting managing director, NSSF

February 2000: NSSF buys Udyam House at Shs 9.7 billion. Later, it is alleged that Acting Chief Government Valuer Eddie Nsamba Gayiya had overvalued Udyam by Shs 3.3 billion.

January 2002: Barongo is dismissed with immediate effect (was given 12 hours to leave office) from the chief executive post of managing director by minister for Gender, Labour and Social Development, Zoe Bakoku Bakoru. The suspension order cited €œthe unfavourable affairs surrounding the NSSF and the ever-increasing public outcry.€

He was dismissed with company secretary John Baptist Kakooza . In May, 2002, Zoe Bakoku Bakoru told parliament that besides the shoddy deal involving Udyam house, the two officials were sacked for,

· The purported purchase of Kampala University, which was supposed to be at Shs 4 billion but businessman Hassan Basajjabalaba was able to negotiate it at Shs1.3 billion.

· Unauthorised investments of NSSF funds outside Uganda when that kind of investment should be improving the economy back home and the quality of lives of your voters (including mine €“ Zoe Bakoku’s);

· Investment policies that are not responsive to workers’ needs and to the beneficiaries’ financial benefits that they get at retirement.

Leonard Mpuuma

2004: Appointed managing director

2005: Contract terminated over abuse of office and loss of Shs 8 billion in a hugely inflated venture with Nsimbe Estate. He is accused with board chairman Geoffery Onegi Obel and the line minister Zoe Bakoku Bakoru. Bakoru fled to United States.

March 2008: Mpuuma admits to court that he caused financial loss to NSSF and and is ordered to pay Shs 100 million within 30 days or face a four-year jail term.

April 2008: Refunds Shs 50 million.

David Chandi Jamwa

Feb 2007: David-Jamwa Chandi, aged 36 is appointed Managing Director to be deputized by Prof. Mondo Kagonyera, a former minister of general duties.

May 2008: Jamwa announces that NSSF had hit the one trillion shillings €œOur profit was 91 percent above target and by the end of this year, NSSF will be the biggest financial institution in Uganda,€ he said.

July 30, 2008: NSSF announces Shs 131 billion profits for the financial year ending June 2008, making the fund the most profitable institution in Uganda.

August 8, 2008: NSSF declares 14 percent interest to all its members, the first time the fund was increasing interest rate in 8 years. In 2001, the Fund increased the rate to 4 percent and to 6 percent in 2003. In 2004, the rate was increased to 7 percent.

August 1, 2008: The Independent in its €œIssue 20€ breaks the news that NSSF paid Security Minister Amama Mbabazi and businessman Amos Nzeyi Shs 11 billion in a controversial transaction involving 414 acres of land in Temangalo, Wakiso district.

August 15, 2008: The daily newspapers pick up the story, prompting the current investigation of the scandal by parliament.

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