Old Guards Out: Youthful Humphrey Nzeyi is New Private Sector Foundation Board Chairman Amidst Scare to Retain Old Board

Humphrey Nzeyi is the new Chairman of the Private Sector Foundation Uganda (PSFU). Nzeyi was voted in as the fifth Chairman on Thursday November 24^th 2022 at the PSFU’s 26^th Annual General Meeting (AGM) at UMA Multipurpose Hall at Lugogo, in Kampala, The Investigator reports.

A spirited clandestine ploy by some sections of supporters to keep the outgoing board failed. They had prior argued that the old board be retained to recoup time lost during the Covid-19 epidemic lockdown. Nzeyi comes as a replacement for Hon. Elly Karuhanga, who has been at the helm of the board since 2019.

Also voted in was Ms. Sarah Kagingo, the now new Vice Chairperson replacing Hon. Victoria Ssekitoleko. The AGM was attended by over 500 hundred delegates. Nzeyi joins past chairpersons at PSFU Boards. These are the like of Patrick Bitature, Gerald Ssendawula, and the late. James Mulwana. The 47-year-old Nzeyi has more than 20 years of experience, running some of Uganda and East Africa’s leading businesses. He is currently the Managing Director of Invicta Africa Limited, a company he founded in 2015. He also has investments in Hospitality, Tourism, Beverages, Confectioneries, and ICT.

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

Outgoing members are Charles Kareba (Logistics and transport), Adyeri Omara – SMEs and Skills, Rajesh Chaplot (Corporates), Gordon Ssentiba (Financial Services), and Eng. Kenneth Kaijuka (Real Estate and Construction). Humphrey Nzeyi, who was unanimously voted onto the board by the Manufacturing, sector embarks on his leadership journey at the helm as he stirs the Private Sector Foundation through yet to fully recover post Covid-19 economy.

Sarah Kagingo, the Vice Chairperson was voted unopposed by the professional services sector, replacing Hon Victoria Ssekitoleko. Hon Elly Karuhanga, the outgoing Board Chairman applauded his team for their support and effort in stimulating economic recovery for businesses from the hard-hitting impact of the pandemic.

Asiimwe Stephen, the Chief Executive Officer, PSFU, commended the outgoing board for their steadfast leadership and unwavering commitment to creating an enabling and sustaining business environment amidst the adverse effects of the Covid-19 pandemic and the 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,” he said. In his acceptance speech, Nzeyi expressed gratitude towards the members for their support and trust in his leadership and promised to start from where the previous board stopped.

His focus will be to advocate for an enabling business environment, business development skills for the private sector to ensure businesses are competitive at a local, regional and global level and 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 UGX1.5Tn to promote and finance domestic investment in various commercial sectors of the economy. This, with particular emphasis on agriculture, industry, tourism, housing, and commerce,” he said

Private Sector Foundation Uganda (PSFU) is Uganda’s apex body for the private sector. It is made up of over 310 business associations, corporate bodies and the major public sector agencies that support private sector growth. Since its formation in 1995, PSFU has served as a focal point for private sector advocacy as well as capacity building and continues to sustain a positive policy dialogue with Government on behalf of the private sector.

PSFU aims to strengthen Private Sector capacity for effective policy advocacy and market competitiveness nationally, regionally and internationally. Regionally, PSFU is the national focal point for the East African Business Council (EABC) and the COMESA Business Council (CBC)

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Jako David Waluluka: Mr. Jacko David Waluluka is another unique entertainment and general investigative news writer, a field he has diligently covered for over fifteen years. He’s also the Chief Administrator at The Investigator. He can easily be reached via [email protected]