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Tag Archives: Savings

BOU: Save only in regulated financial institutions

Kampala, Uganda | THE INDEPENDENT | The acting Governor Bank of Uganda (BOU) Michael Atingi-Ego has urged savers in the country to always entrust their savings to regulated financial institutions only. “The only way to preserve and grow the value of your money is to earn a return greater than inflation. …

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Tax or not to tax Unit Trust Fund profits

Players warn that the move could discourage the growing savings culture Kampala, Uganda | JULIUS BUSINGE | Over the past few years, Uganda started experiencing a surge in the local population, especially youth interested in saving, growing their capital for future investments through the Unit Trust Funds. This is because Unit …

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MPs question police bosses over management of Exodus Sacco

Kampala, Uganda | THE INDEPENDENT | The Minister of State for Internal Affairs, Gen. David Muhoozi has said that members of the Police’s Exodus Savings and Credit Cooperative (SACCO) are restricted from withdrawing their savings due to liquidity challenges. Muhoozi was on Tuesday appearing before Parliament’s Defense and Internal Affairs Committee, …

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NSSF’s UGX 6 billion request was legal: Minister Amongi

Kampala, Uganda | THE INDEPENDENT | The Minister of Gender, Labour and Social Development, Betty Amongi, has rejected a claim by the board chairperson of the National Social Security Fund (NSSF) that she irregularly requested for Shs6 billion. On Thursday, 02 February 2023, a day after Peter Kimbowa’s allegation before the select …

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Tayebwa directs for inquiry into police SACCO

Kampala, Uganda | THE INDEPENDENT | The Deputy Speaker of Parliament, Thomas Tayebwa, has directed the Committee on Defence and Internal Affairs, to investigate the alleged fraudulent operations of the Uganda Police Savings and Credit Co-operative Organisation (SACCO), Exodus. Tayebwa and fellow legislators gave accounts of responses from police officers, complaining …

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Select Committee to probe NSSF operations

Kampala, Uganda | THE INDEPENDENT | The Speaker Anita Among has reiterated the importance of protecting workers’ savings stressing that any diversion of the funds is a criminal act. She also directed investigations into the operations and management of the National Social Security Fund by a select committee. Among said that the …

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Gender Minister to present status report on NSSF

Kampala, Uganda | THE INDEPENDENT | The Speaker Anita Among, has directed the Minister of Gender, Labour and Social Development, Betty Amongi to present a statement on the current status of the National Social Security Fund (NSSF). NSSF, whose portfolio stands at Shs17.9 trillion has recently been marred with allegations of corruption …

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NSSF savings are secure: Musasizi

Kampala, Uganda | THE INDEPENDENT | The State Minister for Finance (General Duties), Henry Musasizi has affirmed that savings in the National Social Security Fund (NSSF) are safe. Musasizi made this assurance as he appeared before the Committee on Finance alongside the Minister for Gender Labour and Social Development, Betty Amongi, and …

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