Develop a saving culture, NSSF boss tells varsity students
Oct 17, 2010
THE National Social Security Fund (NSSF) managing director, Richard Byarugaba, has advised university students to develop a saving culture.
By Francis Emorut
THE National Social Security Fund (NSSF) managing director, Richard Byarugaba, has advised university students to develop a saving culture.
“Be focused and pursue your dreams and always develop a culture of saving money in order to invest,†he said.
Byarugaba was speaking at a dinner organised by the Muljibhai Madhvani Foundation Alumni Association at Hotel Africana on Saturday.
Byarugaba, who has been in the office for only 25 days, said he would focus on medical insurance and the housing industry to expand the fund’s investment.
He pointed out that NSSF contributes 20% of the country’s Gross Domestic Product.
Byarugaba explained that the country lacked social security protection, where stipends are paid to the unemployed like in developed countries.
“In this country, there is no social security protection. The only social security available is the NSSF,†he said.
The patron of the alumni association, Henry Kyemba, appealed to the members of the association to help the needy.
“Do not be selfish by working for yourselves, but create opportunities to help others who are needy,†Kyemba said.
He urged them to keep Madhvani’s dream alive.
The Madhvani Foundation has been sponsoring needy students for university education since the 1950s.
Prominent personalities like retired Justice Prof. George Kayeihamba and Eric Adriko, the vice-chancellor of Kyambogo University, benefited from Madhvani Foundation sponsorship.
Kyemba thanked the foundation for supporting science subjects, saying it was the only way to ensure that the country develops.
THE National Social Security Fund (NSSF) managing director, Richard Byarugaba, has advised university students to develop a saving culture.
“Be focused and pursue your dreams and always develop a culture of saving money in order to invest,†he said.
Byarugaba was speaking at a dinner organised by the Muljibhai Madhvani Foundation Alumni Association at Hotel Africana on Saturday.
Byarugaba, who has been in the office for only 25 days, said he would focus on medical insurance and the housing industry to expand the fund’s investment.
He pointed out that NSSF contributes 20% of the country’s Gross Domestic Product.
Byarugaba explained that the country lacked social security protection, where stipends are paid to the unemployed like in developed countries.
“In this country, there is no social security protection. The only social security available is the NSSF,†he said.
The patron of the alumni association, Henry Kyemba, appealed to the members of the association to help the needy.
“Do not be selfish by working for yourselves, but create opportunities to help others who are needy,†Kyemba said.
He urged them to keep Madhvani’s dream alive.
The Madhvani Foundation has been sponsoring needy students for university education since the 1950s.
Prominent personalities like retired Justice Prof. George Kayeihamba and Eric Adriko, the vice-chancellor of Kyambogo University, benefited from Madhvani Foundation sponsorship.
Kyemba thanked the foundation for supporting science subjects, saying it was the only way to ensure that the country develops.