URBRA assets rise 18.6% to 25.4 trillion shillings
The Uganda Retirement Benefits Regulatory Authority (URBRA) has registered an 18.6 percent rise in assets under management to 25.40 trillion Uganda shillings in FY2023/24, up from 21.4 trillion Uganda shillings in FY 2022/23. This increment was attributed to a net income of 3.1 trillion Uganda shillings and net member contributions valued at 989.9 billion Uganda shillings. Income from fixed-income securities accounted for over 90 percent of total income, which enabled an average interest declaration of 10.9 percent. While there has been significant growth in formal sector coverage, 85 percent of the workforce, particularly in the informal sector, is still not saving for retirement. Ronah Nahabwe reports.
