Geoffrey Alan Onegi-Obel, a pioneering Ugandan investment banker and former chairman of the National Social Security Fund (NSSF) Board, is dead . He was 70 years old .
Onegi-Obel passed away at MP Shah Hospital in Nairobi, Kenya, where he had been receiving medical treatment
He was the former chairman of the National Social Security Fund (NSSF) Board and played a big role in the set up of the establishment of the Uganda Securities Exchange (USE), serving as its founding chairman.
The exchange was established to provide a formal platform for trading securities and facilitate the growth of Uganda’s capital markets.
The USE officially opened for trading in January 1998, following years of efforts by Onegi-Obel and other stakeholders to establish a structured securities market in the country.
His contribution to the sector was later recognised when he received the USE Lifetime Achievement Award.
Beyond public and regulatory platforms, he founded UAP Old Mutual Financial Services, which grew into a prominent private fund manager in Uganda.
Onegi-Obel also founded The Financial Times of Uganda, a publication dedicated to financial and economic affairs. The newspaper contributed to public discussions on investment, financial markets and economic management.
Born on October 20, 1955, Onegi-Obel came from a family with a strong public service background. He was the son of the late Angelo Onegi Obel, who served as Governor of the Bank of Uganda from 1973 to 1978.
He attended St. Mary’s College Kisubi before obtaining a law degree from Makerere University.
He later pursued specialised training in capital markets, including an Albert Parvin Fellowship at Princeton University and executive training at the New York Institute of Finance. In 1987, he was also awarded a Fulbright Scholarship.
Onegi-Obel will be remembered for his contribution to the development of Uganda’s financial sector, particularly the establishment of institutions that support investment, securities trading and retirement savings.
His legacy is closely associated with the growth of Uganda’s capital markets and the development of the financial institutions that continue to play a role in the country’s economy.
