CMA gets new board
DOCTOR Ezra Suruma, the finance minister last week inaugurated a new board for the Capital Markets Authority (CMA).
By Vision Reporter
DOCTOR Ezra Suruma, the finance minister last week inaugurated a new board for the Capital Markets Authority (CMA).
Hajji Twaha Kaawaase, an accountant and a partner with Sejaaka and Kaawaase Company, is heading a 10-man board.
He replaces Leo Kibirango. Other members include Wasswa Kajubi (Bank of Uganda), Sarah Walusimbi (Nice House of Plastics), Billy Kainamura (Ministry of Justice), John Christopher Mpalampa, an auditor with Carr Spanier and Sims, Maris Wanyera (Finance Ministry).
Others are Bisereko Kyomuhendo (Registrar of Companies), Robert Katuntu (Dfcu Group), Bob Kabonero (Kampala Casino), Ronald Zake (Insurance Institute of Uganda) and lawyer Allan Shonubi.
“We have a challenge of pension reforms and regulation. We want to disband the National Social Security Fund’s monopoly to get more funds from the private sector,†Kaawaase said.
at a function held at Emin Pasha holte in Nakasero on Tuesday.
“We want the monopoly broken because if NSSF does not participate in the stock exchange, it would constrain the operations of the institution,†he said.
He said there are a number of companies operating private pension schemes but there is no law to regulate them.
“We need a single regulator, for example Makerere University staff kept their money with the National Insurance Corporation (NIC) but they are not sure of getting it because of lack of a law for the private operators,†he said.
“CMA lacks sustainability because currently it relies on Bank of Uganda and development partners,†he said.
DOCTOR Ezra Suruma, the finance minister last week inaugurated a new board for the Capital Markets Authority (CMA).
Hajji Twaha Kaawaase, an accountant and a partner with Sejaaka and Kaawaase Company, is heading a 10-man board.
He replaces Leo Kibirango. Other members include Wasswa Kajubi (Bank of Uganda), Sarah Walusimbi (Nice House of Plastics), Billy Kainamura (Ministry of Justice), John Christopher Mpalampa, an auditor with Carr Spanier and Sims, Maris Wanyera (Finance Ministry).
Others are Bisereko Kyomuhendo (Registrar of Companies), Robert Katuntu (Dfcu Group), Bob Kabonero (Kampala Casino), Ronald Zake (Insurance Institute of Uganda) and lawyer Allan Shonubi.
“We have a challenge of pension reforms and regulation. We want to disband the National Social Security Fund’s monopoly to get more funds from the private sector,†Kaawaase said.
at a function held at Emin Pasha holte in Nakasero on Tuesday.
“We want the monopoly broken because if NSSF does not participate in the stock exchange, it would constrain the operations of the institution,†he said.
He said there are a number of companies operating private pension schemes but there is no law to regulate them.
“We need a single regulator, for example Makerere University staff kept their money with the National Insurance Corporation (NIC) but they are not sure of getting it because of lack of a law for the private operators,†he said.
“CMA lacks sustainability because currently it relies on Bank of Uganda and development partners,†he said.