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Tag: Matia Kasaija

  • Top URBRA Boss Gets Fired For Declaring Media War on Line minister Matia Kasaija

    Top URBRA Boss Gets Fired For Declaring Media War on Line minister Matia Kasaija

    Finance Minister Matia Kasaija has in writing explained to the president why it was impossible to reappoint Martin Anthony Nsubuga for another 5 years as the CEO for Uganda Retirement Benefits Regulatory Authority (URBRA) after his first contract (of May 2019-May 2024) had expired mid last year.

    Nsubuga had written to the board of directors seeking the renewal of his CEO contract but the board, on whose recommendation the line minister Kasaija would have to rely to reappoint him, declined after they found him unsuitable.

    In his letter to the president, who previously quarreled in cabinet protesting the circumstances under which the board had objected, Kasaija explains how he gave Nsubuga a soft land by not ordering him out outrightly but the man never appreciated that lenience.

    Hon. Matia Kasaija

    He says the board was guided to advertise the CEO job and allow Nsubuga to also apply as opposed to chasing him away outrightly. Kasaija informs the president that Nsubuga got annoyed and didn’t apply ostensibly because he preferred automatic employment contract renewal.

    Kasaija adds that Nsubuga became so angry and took to fighting his supervisors in the board and the minister himself in the media on top of dragging them to Judge Musa Sekaana’s court.

    The judicial review application, through which Nsubuga unsuccessfully anticipated reinstatement into the CEO job at URBRA, was registered as Misc. Cause No. 78 of 2024.

    In his letter Kasaija informs Museveni that he felt hurt as a person to see Nsubuga undertake both media and court wars against him and the board and by extension the entire URBRA, which had been his employer for no less than 10 years since the day Moses Bekabye aided him to relocate from the finance ministry where he wasn’t a very senior person to URBRA where he was made the director in charge of compliance & supervision.

    Apparently, Kasaija was also hurt that a female minister from Buganda was used to help Nsubuga to secretly meet the president and make his own case against him as the line minister and board members for not renewing his contract.

    The same angry Kasaija has since instructed the Attorney General to appeal against the 31st January 2025 Musa Sekaana judgement which declared some board members as unqualified because of absence of prior training in retirement benefits schemes’ management.

    Sources say that the old man Matia Kasaija can’t believe that Martin Anthony Nsubuga, the man he believes he baby-sat and was always very lenient to, would pay him back this way-by dragging him to court which resulted into very embarrassing media publicity.

  • NSSF New Board Chair pledges to take the fund beyond the standard of success

    NSSF New Board Chair pledges to take the fund beyond the standard of success

    Kampala; The National Social Security Fund has unveiled the New Board of Directors/ Trustees who will oversee the operations of the Fund for the next three years.

    Speaking during the official unveiling ceremony at Kampala Serena Hotel on Tuesday, The Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija who unveiled the new National Social Security Fund Board of Directors congratulatedthe outgoing Board, for steering the Fund through an era of growth. ‘’You have exited the stage without any blemish on your record of service and I commend you for that,” he said.

    The Minister also encouraged Ugandans to learn the habit of saving money early so that they do not get setbacks at the time of retirement.

    The Fund’s new Board Chairman, Dr. Peter Kimbowa said that the 12th Board is ready to steer head the Fund in the right direction. “We pledge to be open minded and curious to ask the right questions. We will ensure transparency and accountability as all individuals and teams within the Fund. We also plan to remain very adaptive so that we can move with the times, but also ahead of the times since we are in the post pandemic era and artificial intelligence has become part of our lives,” Dr. Kimbowa said.

    He also noted that the main vision for the fund in the next three years is to reshape the funds portfolio to respond better to the business environment, prioritize and leverage on technology,data and analytics platforms so as to serve members better through problem solving.

    ‘’We are going to look at the opportunities to see how to grow the fund for the next generation solutions,” he added.

    NSSF Managing Director, Richard Byarugaba also expressed his gratitude for the outgoing board for having performed exceptionally well. ‘’Statistics reveal that there’s growth in our assets under management from UGX 5.6 trillion at the start of their first term in 2015, to about UGX 15.4 trillion this year, a growth of 175% in just 8 years,” he said.

    Byarugaba explained that the Fund is currently undergoing a 4th milestone since it was set up.

    1. The first was the action of establishing the Fund as a Department in the Ministry of Labour.
    2. The second milestone was formation of the NSSF as a body corporate through enactment of the NSSF Act in 1985. For all intents and purposes, the Fund envisaged by the 1985 law.
    3. Stability and unprecedented growth over the last decade, augmented by our 2015 – 2025 Strategic Plan. This milestone has brought to bear the fact that social security needs of the country have changed, and the very structural set up of the Fund needs to change.
    4. Lastly, the NSSF Amendment Bill (2019), which once enacted into law will usher in significant reforms, especially around the removal of the contribution’seligibility threshold, voluntary contributions over and above 15%, and mid-term benefits.

    The composition of the 12th Board is founded on a tripartite arrangement that includes; Representatives from unionized workers through the National Organization of Trade Unions (NOTU) and Confederation of Free Trade Unions (COFTU), Employers under Federation of Uganda Employers and Government – through representatives from the Ministry of Finance, Planning & Economic Development; and Ministry of Gender, Labour & Social Development.