News Column

NSSF Uganda Happy Over Umeme Stake

July 21, 2014

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.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters