(MENAFN) By the end of June 2019, Uganda stood at USD3.1 billion in its social security fund asset value to mark a 13.1 percent year-on-year boost compared to the USD2.7 billion posted during the same month in 2018.
Such a surge is driven by accelerated contributions as well as improved interest income, as explained a National Social Security Fund (NSSF) report.
Contributions from members climbed 15 percent to reach USD328.8 million by the end of June from USD274 million, as revealed managing director of NSSF Richard Byarugaba.
"Our members should be confident about the health of the Fund in the short, medium and long term as the Fund remains financially stable and growing," the managing director stressed.
Byarugaba added "we have the ability and means to withstand any shock in the economy, given our aggressive but prudent investment approach and our investment diversification strategy."
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