Patrick Ayota, the Chief Finance Officer at the National Social Security Fund has been confirmed by Minister of Finance Matia Kasaija to replace Geraldine Ssali Busuulwa as Deputy Managing Director of the state fund.
Ssali’s departure while broadly approved was mired in controversy—though she, herself, was not at the center.
Her contract has not been renewed despite her writing to Kasaija expressing interest in its renewal.
The NSSF board had recommended that Ssali’s contract should not be renewed. The board made the decision following a detailed staff and corporate affairs (SACA) report that concluded she was not suitable for the position.
Kasaija today endorsed the board’s decision to end Ms Ssali’s appointment, which was signed on October 28, 2014 by former Finance minister Maria Kiwanuka.
NSSF, which currently boosts sh7 trillion in assets, also increased its stake in Umeme to 23%, up from 15% by making an additional investment of about sh59.4b and is also the largest institutional investor on the Uganda Securities Exchange.