Richard Byarugaba declared the Uganda Social Security Champion as NSSF emerged the Best Performing Public Institution of the year 2021.
Richard Byarugaba is the Managing Director/ CEO of the National Social Security Fund (NSSF). Richard Byarugaba was honored with the Uganda Economic Development Mark of Excellence as the 2021 Uganda Social Security Champion by Public Opinions in appreciation of his contribution towards attainment of Uganda Vision 2040 and the United Nations Sustainable Development Goals.
In appreciation and recognition of his contribution to the Social-Economic Development of Uganda and in appreciation of the performance of NSSF, a Book titled “The Preacher of Uganda Vision 2040 and United Nations Sustainable Development Goals” was published and dedicated to Richard Byarugaba, NSSF, President Museveni and the Secretary General of the United Nations H.E Antonnio Gutterres in which copies have been made available and more to be distributed to members of Parliament, and CEOs of Leading Private Sector Companies and Organizations.
Richard is the Best performing Managing Director of National Social Security (NSSF) since 1985. The National Social Security Fund (NSSF) emerged the best Performing Public Institution in Uganda followed by the Uganda Revenue Authority (URA), Uganda People’s Defense Forces (UPDF), and Bank of Uganda whose head the Governor Bank of Uganda was Declared the Uganda Economic Development Champion on 31st March 2021 at a ceremony presided over by H.E Massimilliano Mazzanti Ambassador of Italy to Uganda while H.E Dr Patrick Bitature was recognized with the Uganda Responsible Investment Mark of Excellence as the Social Investment Champion of the Year.
He has committed himself to build a formidable organization that is dedicated to provide social security services to employees in Uganda while at the same time investing in profitable ventures which have in turn generated huge profits for NSSF and boosting Uganda’s economy.
The vibrant NSSF under a dedicated Richard manages assets worth over UGX 13.7 trillion invested in Fixed Income, Equities and Real Estate assets within the East Africa region. This is accomplished through a carefully planned and executed long-term investment program that efficiently and effectively allocates and manages the assets of the Fund. As at June 30, 2020, the NSSF’s Assets under Management (AUM) stood at Uganda Shillings 13.28 Trillion. The Fund invests mainly in 3 asset classes; Equities 15%,Real Estate 7%,Fixed Income 78%,etc.
WHO IS RICHARD BYARUGABA?
Byarugaba was born in 1961. He attended Makerere University graduating with a degree in statistics and economics. He is a qualified accountant with the Association of Chartered Certified Accountants of the United Kingdom (UK). He also holds a diploma in management from Henley Management College, also in the UK.
He was appointed Managing Director of NSSF in 2010 and re-appointed in October 2014. He has a wealth of experience spanning over a period of 31 years in managing large financial organisations of international repute including commercial banks.
Previously served as Managing Director, Afrimax Uganda and had previously held similar position at Global Trust Bank and Nile Bank. In 2007 he also served as the Chief Operations Officer at Barclays Bank Uganda Ltd.
Richard started his career in 1983 with Standard Chartered Bank and rose through the ranks to the position of Executive Director for Finance in 1992. In 1994, he was transferred to London as Regional Manager for Finance in charge of Africa region. In London, he made his mark through the implementation of a multi-million accounting software for the bank’s Africa operations.
Richard is a qualified Accountant with the Association of Chartered Certified Accountants. He also holds an MBA from Edinburgh Business School, Heriot Watt University UK, a management diploma from the Henley Management College of UK and a Bachelor of Science, Statistics & Economics from Makerere University, Kampala.
He is the Chairman of the Board of Directors of Vodafone Uganda Ltd, and Kulika Uganda,a charitable trust. He also serves on the Board of Uganda Clays and Uganda Stock Exchange Governing Council. He is the former President of the East and Central Social Security Association and Chairman Nakasero Hospital Limited and Hospice Africa Uganda.
A former President of the Uganda Institute of Bankers, Richard has also served on several board positions at Standard Chartered Bank, Nile Bank, Palliative Care Association of Uganda and the Uganda Institute of Banking and Financial Services.
He started as a banking officer at Standard Chartered Uganda (Stanchart), in 1983. By 1992, he had risen to executive director for finance at Stanchart. In 1994, he was transferred to Stanchart's international headquarters in London as the regional manager for finance, responsible for Africa. He returned to Uganda in 1997, where he joined Nile Bank Limited, a private retail bank.He became managing director of the bank in 2003. In 2007, Barclays, the British financial conglomerate, bought all the shares of Nile Bank Limited for US $27 million (UGX:52 billion). The new owners merged the bank with their existing banking interests in the country to form the existing Barclays Bank (Uganda). Byarugaba moved to Baclays Bank (Uganda) as the chief operating officer.
In 2008, when Global Trust Bank (Uganda) was established, the new owners appointed Byarugaba as managing director of the newly created bank. He held that position until 2010 when he left to become the managing director and chief executive officer of the National Social Security Fund (Uganda).
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Public Opinions is a field based organisation working towards attainment of Uganda Vision 2040 and the United Nations Sustainable Development Goals through strategic Research,Information Dissemination,Public Awareness and Advisory,Public Relations, Training and mntorship,corporate profiling,investment advisory,etc