{UAH} MPs investigation of NSSF: Did NSSF lose money in the UMEME deal or what?
Folks:
The press is creating the impression that NSSF investment in UMEME cost NSSF contributors? But is that the case? Has NSSF lost or made money from investment in UMEME shares? As per the acting CEO, NSSF actually made a sound investment in that it its stake has substantially appreciated in value. The acting CEO was clear that NSSF's decision was legal and financially sound.
The MPs seem to disagree as per the ongoing investigation by the select committee. That investigation may be political and linked to the ongoing struggle over the Kyabazinga in Busoga. How. The speaker Hon Rebecca Kadaga who approved the select committee is from Kamuli and is a strong backer of the Gabula faction. On the other hand the chairman NSSF board of directors Engineer Kyayonka is from Bulamogi where the other contender comes from.
Which raises the question: is Speaker Kadaga abusing her office? This is one angle the media should look into. It may of course be mere coincidence but I smell a vendetta.
NSSF should have invested in UMEME and other good investment long ago. Yet, not long ago, NSSF had to give, okay, advance 100 million dollars, yes 100 million dollars to IPS , the investment arm of the Aga Khan to build Bujagali Dam. Think about that. Rather than buy a stake into the dam, NSSF advanced 100 million dollars to IPS. Let Monitor-which is majority owned by the Aga Khan-tell its readers about the 100 million. When was the 100 million dollars paid back to NSSF? How much in interest did NSSF earn? Who authorized the transaction etc.
WBK
The press is creating the impression that NSSF investment in UMEME cost NSSF contributors? But is that the case? Has NSSF lost or made money from investment in UMEME shares? As per the acting CEO, NSSF actually made a sound investment in that it its stake has substantially appreciated in value. The acting CEO was clear that NSSF's decision was legal and financially sound.
The MPs seem to disagree as per the ongoing investigation by the select committee. That investigation may be political and linked to the ongoing struggle over the Kyabazinga in Busoga. How. The speaker Hon Rebecca Kadaga who approved the select committee is from Kamuli and is a strong backer of the Gabula faction. On the other hand the chairman NSSF board of directors Engineer Kyayonka is from Bulamogi where the other contender comes from.
Which raises the question: is Speaker Kadaga abusing her office? This is one angle the media should look into. It may of course be mere coincidence but I smell a vendetta.
NSSF should have invested in UMEME and other good investment long ago. Yet, not long ago, NSSF had to give, okay, advance 100 million dollars, yes 100 million dollars to IPS , the investment arm of the Aga Khan to build Bujagali Dam. Think about that. Rather than buy a stake into the dam, NSSF advanced 100 million dollars to IPS. Let Monitor-which is majority owned by the Aga Khan-tell its readers about the 100 million. When was the 100 million dollars paid back to NSSF? How much in interest did NSSF earn? Who authorized the transaction etc.
WBK
0 comments:
Post a Comment