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Ayota replaces Mr. Richard Byarugaba, who for months has fought unsuccessfully to be reappointed to the helm of the Shs 17 trillion Fund.
“We are pleased to inform NSSF members, stakeholders, and the public that the Minister of Gender, Labour, and Social Development Hon Betty Amongi has appointed Patrick M Ayota the Managing Director of the National Social Security Fund (NSSF) for a period of five years effective August 18, 2023,” the Fund communicated.
“The appointment follows the NSSF Board of Director's recommendation to the Minister, in accordance with Sections 39 and 40 of the National Social Security Fund (NSSF) Act, as amended.”
Mr. Ayota has been the Fund's Acting Managing Director for the last 8 months. Previously, he served as Deputy Managing Director since December 2017 and Chief Financial Officer since July 2011.
The fund expressed confidence that the new MD is the right person to move it forward at such a critical time following changes in legislation that oblige the Fund to play a leading role in expanding social security coverage to all Ugandans.
“The Board assures all NSSF members, stakeholders, and the public that their Fund Is stable and on course to surpass its 2015-2025 Strategic Objectives.”
The development comes just days after Mr Byarugaba sued Minister Amongi for failing to support his reappointment for a third term as the Fund's managing director.
Byarugaba stated in the lawsuit that during his tenure as managing director of the Public Savings Fund, he demonstrated exceptional stewardship in technology, innovation, and customer appreciation, as well as growing the fund to over 2 million members and management assets totaling sh1.7 trillion, and that he is thus qualified for reappointment.