Patrick Ayota has officially assumed the role of Managing Director of the National Social Security Fund (NSSF) after serving in an acting capacity for nearly nine months. Ayota unveiled NSSF’s Vision 2035, outlining the organization’s ambitious goals and strategic direction.
Under Ayota’s leadership, NSSF aims to significantly increase the enrollment of Uganda’s workforce in the fund, targeting a growth from the current 10% to 50% by 2035. Additionally, the organization plans to expand its total assets under management from the current sh18.4 trillion to sh50 trillion by the same year.
During a press conference, Ayota highlighted the importance of beginning the Vision 2035 process ahead of time due to NSSF’s robust growth trajectory. The decision to initiate the vision earlier was driven by the Fund’s projections to achieve the sh20 trillion asset target by 2025.
Ayota emphasized that the Vision 2035 envisions NSSF taking on a more active role in the lives of ordinary Ugandans and serving as a catalyst for mobilizing long-term domestic savings.
During his acting term, Ayota addressed challenges faced by NSSF, particularly concerns from members about perceived wastefulness. He clarified that the Fund’s performance generated substantial value for each shilling spent on expenses, dispelling the notion of wastefulness.
Ayota also expressed satisfaction with the organization’s progress towards the objectives outlined in the 2015 10-year Strategic Plan. This plan included achieving a sh20 trillion fund size by 2025, a 95% customer satisfaction rate, a 95% staff satisfaction rate, and facilitating benefits payment within one day.
As Ayota takes on his official role as Managing Director, he reaffirms NSSF’s commitment to its members and the strategic vision that will guide the organization’s growth and impact in the years to come.
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