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“Currently, NSSF assets are safe and the decision that was made by the board and management of NSSF to buy Umeme shares was a good one. NSSF bought equity in Umeme at an Initial Public Offer price of Ugx 275 per share and the same shares are trading or valued at Ugx 340 today! Whether you like it or not, this is a good investment. In a space of 18 months, this investment made a return of Ugx 7bn and in addition, if NSSF was to sell off these shares today, the profit in the form of capital gains would be Ugx 23.6 billion. I think we need to evaluate our actions and make the correct decisions for the good of our economy.”

Keith Muhakanizi

Treasury Secretary

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