The only way a managing director can
protect their job at the fund is by sitting on their arms and doing nothing
Early this
year, the National Social Security Fund (NSSF) bought shares worth Shs 52
billion in an Initial Public Offering by Umeme, the electricity distributor in
Uganda. In response, the Central Organisation of Free Trade Unions – Uganda
(COFTU) and the National Organisation of Trade Unions (NOTU) have launched a
complaint to the Minister of Finance, Maria Kiwanuka. The complaint is veiled
blackmail that threatens “a series of actions beginning March 1, 2013” if she
does not accept to meet with them. In short, COFTU and NOTU are saying that for
NSSF to invest, they must have a say.