The National Social Security Fund (NSSF) Uganda has won the Africa Pension Fund Infrastructure Investment Initiative of the Year Award, ahead of other pension funds on the continent.
NSSF’s chief investments officer, Gerald Paul Kasaato, received the award on behalf of the fund during the Africa Investor Infrastructure Development Summit held in Durban, South Africa on Tuesday, 2 May 2017.
NSSF was recognised along with other global pension funds as well as leading pension fund personalities for investments in infrastructure and other successes.
“We are glad that our investment efforts such as the upcoming UN Model Project, the Off-taker project in real estate, contractor financing and our investment in PTA Bank to finance infrastructure have been recognised,” NSSF managing director, Richard Byarugaba, said.
In November last year, NSSF made an investment of about Shs59.4bn in Umeme Limited, effectively increasing its stake in the company from 15.5% to 23%. The fund also invested in PTA Bank, which predominantly supports infrastructure funding.
“We have become a benchmark for the social security industry in the East Africa region and we are steadily climbing the ladder to the top on the African continent,” Mr Byarugaba added.
This is the second time the fund is recognised at a continental and global level for its investments. In 2015, NSSF won the African Pension Leadership Initiative of the Year Award for its diversification efforts in equity.
The awards were given by Africa investor, the international investment and communications group. Africa Investor Summit partners include the World Pensions Council, the Institutional Limited Partners Association, the African Pension Fund Network and the African Securities Exchanges Association, amongst other institutions.