Humphrey Nzei has been elected the new Board Chairman of Private Sector Foundation Uganda (PSFU).
Mr Nzei replaces Mr Elly Karuhanga who has served two terms. Mr Nzeyi has been representing the manufacturing sector on the outgoing board.
Mr Nzei and other board members were voted for during PSFU’s 26th Annual General Meeting that was held on Thursday 24th November, 2022 at the UMA Multipurpose Hall, Lugogo.
Ms Sarah Kagingo, who was overwhelmingly elected to represent the Professional Services sector, will deputise Mr Nzei as Vice Chairperson to the PSFU Board of Directors. Ms Kagingo replaces Ms Victoria Sekitoleko.
Ms Civy Tumusiime, who was also overwhelming voted to represent the tourism and hospitality sector, will serve as a PSFU Board Member.
The board will served from 2022-2025.
In his farewell speech, Mr Karuhanga hailed the technical team at PSFU and the government for the support during his tenure.
“Today, our tenure as a board comes to an end, and we are grateful for the support from PSFU staff, members, and the government,” he said.
“As a board, during our tenure, we advocated and achieved the recapitalisation of the UDB with UGX 1.5t, deferment of PAYE and NSSF for 3 months, banks allowed to increase the period of Non-performing assets from 90 to 180, zero rating on VAT, etc during Covid-19,” he added.
Mr Karuhanga also said during his tenure, PSFU hired the best talent in the country to ensure that the members and the private sector are well-served and represented.
Stephen Asiimwe, the Chief Executive Officer of PSFU, hailed the outgoing board for their diligent service.
“It’s my honour and privilege to serve alongside the best minds in town to stimulate business growth in the private sector,” he said.
PSFU is Uganda’s apex body for the private sector made up of 230 business associations, corporate bodies and the major public sector agencies that support private sector growth.
Since its founding in 1995, PSFU has served as a focal point for private sector advocacy as well as capacity building and continues to sustain a positive dialogue with government on behalf of the private sector. PSFU is also Government’s implementation partner for several projects and programmes aimed at strengthening the private sector as an engine of economic growth in Uganda.