Our Governance
Governance structures and delegation
Investments and Project Monitoring Committee (IPMC)
Chairperson: Mr. Ramathan Ggoobi
Members
- Ms. Annet Birungi
- Dr. Silver Mugisha
- Ms. Peninnah Tukamwesiga
- Mr. Patrick Ayota (Ex – officio member)
- Mrs. Agnes Tibayeita Isharaza (Corporate secretary)
- Arch. Kenneth Ssemwogerere (Invitees – professional advisors)
Declaration
The Investments and Project Monitoring Committee of the Board complied with its mandate for the year under review. All scheduled meetings were held.
Attendance: 90%
A message to members
Members are encouraged to consistently save with the Fund and avoid mid-term withdrawals while still active, as the Fund continues to deliver strong returns on savings
Composition and meeting procedures
The chairperson and members of the committee were suitably qualified and had the necessary expertise required to discharge their responsibilities. The committee met on 4 occasions, with meetings scheduled in line with the company’s financial reporting cycle.
Committee purpose and how it contributes to value creation
The Investments and Project Monitoring Committee (IPMC) of the Board is responsible for assisting the Board to fulfil its oversight responsibility as provided under Section 31 of the NSSF Act Cap 230, which states: “All monies in the Fund, including the reserve account, which are not for the time being required to be applied for the purpose of the Fund shall be invested in such investments as may be determined by the Board in consultation with the Minister.”
The main responsibilities of the committee include:
- Providing a deeper understanding of investment activities to the Board
- Reviewing, analysing and recommending all investment proposals to the Board for consideration
- Recommending an investment strategy, policies, and guidelines to the Board for approval
- Reviewing and recommending investments in equities, fixed income and real estate and the associated budgets to the Board
- Reviewing and recommending investment design concepts and master plans to the Board or changes thereto
- Reviewing performance of real estate projects, equities, and fixed income quarterly, in line with set targets and recommending to the Board
Matters considered FY25
- Driving performance of the existing real estate projects
- Managing non-performing equities with great potential
- Monitoring the closure of Umeme and ensure invested Funds are preserved
- Innovations in the informal sector to expand coverage (Smartlife)
On a quarterly basis, the committee considers:
- Reports on Investments
- Changes to the Investment Policy Statement and Procedures Manual
- Proposed Purchase of Plot 983 Bwebajja
- Yield Fund update
- Re-adjustment of the repayment period for Lubowa Housing Project (LHP)
- NSSF property management update
- NSSF real estate projects update
Key Milestones
Opportunities
- Diversify our investment and spread the risk to other emerging Markets
Milestones
- Innovative ways of tapping into the informal sector (Smartlife) product
- Revised the pricing model for the Lubowa project improving its performance
Value preservation in FY26
The committee will continue to operate within its terms of reference and ensure that meetings address all regular matters reserved for its consideration. Additionally, the following key activities are expected to receive the committee’s attention during FY26:
- Expediting ongoing real estate projects and delivering affordable housing
- Continuing with diversification into emerging markets for risk-spreading
- Driving innovative investments to achieve better returns while safeguarding members’ savings
Capitals
Stakeholders
King IV™
