Government owned pension scheme, National Social Security Fund (NSSF) officiated an ultra-modern commercial building worth UGX3.5 Billion in Jinja Town on Wednesday 28th June, 2018. The Jinja City house, located in the heart of Jinja town, at Plot 2-4 Lubas Road, is a 4-storey complex with a built up space that totals to 1,500 square meters and is a mixed-use development with commercial facilities, office space and retail shops.
The Guest of Honor, Speaker of Parliament of the Republic of Uganda, Rt Hon Rebecca Kadaga said; “It is gratifying to see that NSSF is committed to contributing to economic development in the major towns in Uganda…providing the much-needed long term financing necessary for the economic development of the country”.
She added, “I am aware that Cabinet recently passed a resolution to amend the existing NSSF Act to extend Social Security coverage to all Ugandans who are not catered for within the NSSF Act Cap 222. I look forward to receiving this proposed bill in Parliament. We have talked about pension reforms for more than 15 years now; it is high time we acted.”
NSSF Managing Director Richard Byarugaba said that Jinja City House is the first project that the Fund has undertaken outside Kampala, further underlining the Fund’s commitment to contributing to the economic development of the country at large.
“We have undertaken a number of projects, providing the much needed jobs to both skilled and semi-skilled Ugandans, supported the local suppliers in line with the Government’s BUBU policy, but more importantly, we are delivering value to our members,” he said.
Byarugaba added that 2 other projects are almost complete and will be commissioned before close of the year. “Our Shs14.5 billion high-end projects comprising of 50 housing units in Mbuya and the Mixed Development Project in Mbarara, valued at Ugx 3.9 billion, will be completed by December this year”, he added.
The NSSF Board Chairperson Patrick Byabakama Kaberenge said that the completion and opening of Jinja City House among other real estate projects is testament that the Board is delivering on their mandate to revive the real estate investment portfolio of the Fund.
