By Editorial
The acting NSSF Managing Director, Patrick Ayota has urged private sector members to tap into growth opportunities by having their own savings.
Giving a key note address during a Private Sector Foundation Uganda -PSFU’s lead firm structure project review meeting at Sheraton Hotel Kampala, Ayota said it is appalling that the country relies much of its budget on borrowing from abroad yet the same funds can be mobilised back home.
The NSSF boss explained that it is possible for the country to borrow solely from within other than going for expensive loans abroad but noted this can only happen if Ugandans are encouraged to save.
He said this can be through forced savings like NSSF and voluntary savings to create a big pool from which government can borrow at a lower interest rate for infrastructural development. ENDS