The Speaker of Parliament, Rt Hon Rebecca Kadaga has launched the National Social Security Fund (NSSF)’s Shs3.5bn ultra-modern commercial facility in Jinja.
The four-storied building dubbed Jinja City House, is first of NSSF’s regional commercial real estate projects a testament according to Kadaga that collective action can yield into longstanding development.
“This project has been made possible on the strength of collective savings principle and it is a testament to the good work NSSF has accomplished in the mobilization of domestic savings at a scale our country has never seen before,” she said.
Richard Byarugaba, the fund’s Executive Director revealed that similar projects in other parts of the country are also underway such as the Mbarara Mixed Development Project valued at Shs3.9bn that is expected to be completed by the end of the year, the Lubowa Housing Estate which will comprise of 2,741 houses among several others.
“We are currently the number one pension fund in East Africa in terms of asset size and the top financial institution in Uganda,” MD Byarugaba said.