Uganda: NSSF's Real Estate Ghosts

In NSSF's current advert running in the media, the bespectacled managing director Richard Byarugaba says: "So every time you think of NSSF, think of it as a promise to remain true to you," to which the head of Investment at the Fund adds, "to get you a competitive return on your investment" and all staff conclude in a chorus, "and that is our promise."

The question is, with all the flagship real estate projects such as the Pension Towers remaining impotent, are contributors really getting a competitive return? To many contributors, the answer is an emphatic no.

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