Nzeyi , Kagingo elected new Private Sector Foundation Uganda bosses

The Managing Director of Invicta Africa Limited, Mr. Humphrey Nzeyi (47) has been elected the new Chairman of the Private Sector Foundation Uganda (PSFU).

He replaces veteran Dr. Elly Karuhanga – who has been at the helm of the oraginsation since 2019. Ms. Sarah Kagingo (44) was elected the Vice Chairperson she replaces another veteran Mrs. Victoria Ssekitoleko.

The duo were elected at PSFU’s 26th Annual General Meeting (AGM) that attracted over 500 delegates and was  held at UMA Multipurpose Hall at Lugogo, in Kampala.  Both were unopposed .

Others elected include  Mr. Latimer Mukasa – Member (Financial & Insurance Services, Ms. Angela Bageine – Member (SMEs) Mr. Badru Ntege – (ICT), Mr. Issa Ssekitto (Trade and Commerce), Mr. Japheth Katto – Member (Corporates) Kenneth Ayebare – Member (Transport & Logistics) Peter Kimbowa (HR, Skills and Education) Civy Tumusiime – Member (Tourism & Hospitality) Daniel Kazibwe – Member (Culture & Creative Arts sector.)

Outspoken Dr Karuhanga, thanked  the outgoing PSFU board-for their support and effort in stimulating economic recovery for businesses after two year devastating covid-19 pandemic.

Out goining Board Chair Dr. Elly Karuhanga

Mr. Asiimwe Stephen, the Chief Executive Officer, PSFU noted the steadfast leadership and unwavering commitment of  the old board -to create an enabling and sustaining business environment amidst the adverse effects of  Covid-19 and the on-going  Russian war in Ukraine.

“Despite the economic hardships posed by the Covid-19 pandemic, PSFU membership grew by 15%, from 270 the previous year to 311 members throughout the year. We welcome the new members, and commit to fulfilling your expectations as aligned with PSFU’s mandate,” Asiimwe stated.

 Nzeyi  pledged to focus his leadership on advocating an enabling business environment, business development skills for the private sector to ensure businesses are competitive at local, regional and global level and forge strategic partnerships.

“Our tenure, as the board, was dominated by Covid-19, and we were tasked with a responsibility to keep businesses afloat. With tremendous support from government and development partners, we managed to recapitalize the UDB with UG.Shs. 1.5 Trillion -o promote and finance domestic investment in various commercial sectors of the economy. These included among others  agriculture, industry, tourism, housing, and commerce,” Nzeyi said.

 Nzeyi joins past chairpersons at PSFU   who include -Mr. Patrick Bitature, Gerald Sendawula, and the late. James Mulwana.

Other outgoing PSFU Board  members are Mr. Charles Kareba (Logistics and transport), Ms. Adyeri Omara SMEs and Skills, Mr. Rajesh Chaplot (corporates), Mr. Gordon Ssentiba (Financial Services), Eng. Kenneth Kaijuka (Real Estate and Construction).

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