Uganda: NSSF Towers Cost Shoots to Shs200 Billion

14 October 2009

Kampala — National Social Security Fund contributors could pay an extra $35 million (Shs70b) for the construction of the multi-storey Pension Towers on Lumumba Avenue after the Fund's new board reportedly approved a revised construction cost from $75 million (Shs150b) to $110 million (Shs220b).

Daily Monitor has learnt that Mr Vincent Ssekkono, the board chairman, wrote to Finance Minister Syda Bbumba, on July 18, asking for a 'no objection' to implement the revised building plan that would spiral the bills upwardly.

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