NSSF unveils business partnership opportunities for FY2022/23 for firms to tap in.
Drake Nyamugabwa
The National Social Security Fund (NSSF) has urged both local and foreign firms to take on the available business opportunities with the fund for the next financial year 2022/23. The opportunities range from real estate, information technology systems, office equipment, and motor vehicles among others.
During the 6th Suppliers Forum held on 27th June 2022 at Mestil hotel in Kampala, the managing Director Richard Byarugaba told suppliers that business opportunities at NSSF have promoted local firms’ participation to a tune of 90% leaving only 10% for the foreign supplier.
“Our procurement report for the 2021/22 financial year indicates that local firms receive 90 percent of business from the Fund while only 10 percent goes to international firms,” he said.
He however noted that despite the high percentage given to local firms, there is low uptake attributing it to inadequate finances, low technological adoption, price fluctuations of materials, and inadequate skills among others. He advised local suppliers to develop long-term business strategies that go beyond just participating in a tender, skilling workforce, especially in emerging technologies and management of complex projects, and establishing partnerships.
“We need low-cost offerings. We need businesses to give us houses that we can sell to our members at affordable prices. We also need ways to speed up the real estate procurement process to help us address speed, liquidity, cost, and scale. In line with our 10-year strategy, it is evident that the Fund needs more innovative solutions to growing the business, extending coverage across the country at a low cost, and improving member experience. These are areas local firms should take advantage of” he said.
Architect John Paul Ssentongo, said “Our first engagement with NSSF was in 2016 when we were constructing the Mbarara city house. This has been a good addition to our resume because we earned so much trust from other clients."
The Uganda National Oil Company, Chief Human Resource Officer, Catharine Tumusiime, said that local suppliers must develop capacity given the increase in opportunities in the oil sector adding that investment opportunities for the local suppliers stood at up to $8b in Kingfisher under CNOOC, with at least 17 projects reserved for the local suppliers.
