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.