Prime Minister Robinah Nabbanja has held bilateral talks with Tanzania’s National Social Security Fund (NSSF) Director General, Masha John Mshomba, to explore strategies for strengthening Uganda’s pension fund system.
The meeting, held at Johari Rotana Hotel in Dar es Salaam, took place on the sidelines of the Africa Heads of State Energy Summit, where Nabbanja is representing President Yoweri Kaguta Museveni. Uganda’s High Commissioner to Tanzania, Col. (Rtd) Fred Mwesigye, and technical officials from both countries also attended.
Nabbanja said Uganda seeks to learn from Tanzania’s experience in managing social security funds to enhance the effectiveness of its own NSSF. “We are here to benchmark how NSSF works in Tanzania so that we can also improve our fund and make better use of it as an economy,” she said.
She noted that Uganda’s NSSF portfolio has grown to UGX 22 trillion and emphasized the need to study how Tanzania’s government collaborates with the fund. “Our fund is estimated to be UGX 22 trillion and is still growing. We are making strategies to improve it further,” she added.
Masha explained that Tanzania operates two funds: the Public Social Security Fund (PSSF) for public servants and the NSSF for private sector employees. “We have two funds in Tanzania, and we use both for developmental projects in the country,” he said.
He highlighted that Tanzania utilizes pension funds to finance infrastructure projects instead of relying on foreign borrowing. He cited a toll bridge constructed with TZS 340 billion, where NSSF contributed 60% while the government provided 40%. “When such projects are funded, NSSF first manages the project to recover its money with interest before handing it over to the government,” Masha explained.
He also briefed Nabbanja on reforms that allow contributions from both the public and private sectors, enhancing fund sustainability and national development.
The Prime Minister is leading a Ugandan delegation that includes Minister of State for Energy Okasai Opolot and Permanent Secretary for Energy and Mineral Development Irene Batebe.
The Africa Heads of State Energy Summit aims to strengthen collaboration in addressing the continent’s energy challenges while adopting the Dar es Salaam Declaration for reliable, affordable, and sustainable energy.