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Sunday, July 20, 2014 

NSSF Uganda happy over Umeme stake

TOLD YOU SO: Busuulwa holding a news conference with Umeme boss, Charles Chapman last week in Kampala. COURTESY PICTURE

KAMPALA, Uganda - Last week, NSSF received a dividend payment of Ush3.3 billion (about $1.3 million) for its Umeme stake.

An obviously delighted acting managing director, Geraldine Ssali Busuulwa said, “Our decision to invest in Umeme Limited was well-informed because among other reasons, this is one of the best performing companies in East Africa and the second largest company on the Uganda Securities Exchange.”

This was in reference to some doubts were expressed about the investing Uganda’s electricity distributor. “The Fund’s guiding principle is to provide a reasonable return to members, without compromising the safety of savings. Our investment in Umeme Limited, guided by our Investment Policy, was in the best interest of the members.” she said.

By Emma Onyango, Sunday, July 20th, 2014