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Byarugaba bounces back as NSSF boss

By Vision Reporter

Added 29th October 2014 04:06 PM

Richard Byarugaba has been re-appointed National Social Security Fund (NSSF) Managing Director.

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Richard Byarugaba has been re-appointed National Social Security Fund (NSSF) Managing Director.

 By Vision Reporter

Richard Byarugaba has been re-appointed National Social Security Fund (NSSF) Managing Director.

Geraldine Ssali who has been acting, is appointed Deputy Managing Director. Richard Wejuli is the new Corporation Secretary.

The announcment comes a day after the NSSF members' meeting, where state minister for finance Matia Kasaija hailed the Fund’s performance in the recent years.

Who is Richard Byarugaba? 
 
Richard Byarugaba is a qualified accountant with the Association of Chartered Certified Accountants in the United Kingdom. He holds a diploma in management, from Henley Management College, also in the UK. He attended Makerere University from where he graduated with a degree in Statistics and Economics. 
 
Overtime, Byarugaba has held notable positions majorly Uganda's banking sector where he is highly respected. He started as a banking officer in Standard Chartered Bank in 1983. By 1992, he had risen to Executive Director for Finance in the same bank. Two years later, he got a promotion as the Regional Manager for Finance, responsible for Africa at Standard Chartered Bank's International Headquarters in London, United Kingdom.
 
In 1997, he returned to Uganda for a job at Nile Bank Limited, a private retail bank then established in 1988. He worked there for a while and he was appointed the Managing Director  in 2003. In 2007, when Barclays Bank bought 100% shareholding in Nile Bank Limited for $27m, it was merged with their existing banking interests in the country to form the existing Barclays Bank (Uganda). 
 
This merger saw Byarugaba move to Baclays Bank (Uganda), as the Chief Operating Officer. Hardly a year later, Global Trust Bank was established and the directors having seen the work Byarugaba had done in the various banks, appointed him Managing Director of the newly created bank. 
 
He was at Global Trust for two years. In 2010, he took up the position of Managing Director and Chief Executive Officer of National Social Security Fund (Uganda). By the time he left Global Trust Bank, he was the Treasurer of Uganda Bankers Association. 
 
Byarugaba is also known for his charity deeds and has worked with Hospice Africa, Palliative Care Association of Uganda.
 

Byarugaba back as NSSF MD

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