URBRA reports positive results Martin Nsubuga, CEO URBRA
The Uganda Retirement Benefits Regulatory Authority (URBRA) end-of-year report, released last week, showed that savers will be happy after the retirement benefits sector continued to perform well in terms of investment and governance.
According to the report, the total sector portfolio grew by 16.8 per cent to Shs 15.8 trillion by September 2020 from Shs 13.5 trillion a year earlier. However, considering the impact of Covid-19 on the economy, which has resulted in the loss of jobs and incomes, the retirement benefits sector successes are a pleasant surprise.
Martin Nsubuga, the chief executive officer of URBRA, has attributed this to prudent investment and improved governance by fund managers generally. He explained that there has been growth in the number of umbrella saving schemes, from 142 in December 2019 to 175 in December 2020.
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