Grapevine

What other players give savers eager to grow money

If you had Shs100m in savings, where would you invest it? Would you consider safety first or simply dive into government bonds, or venture into stocks? Maybe your hard-earned savings could find a cosy home in real estate or leave it with the National Social Security Fund (NSSF) and forget about having sleepless nights?

Yesterday, the Minister of Finance, Mr Matia Kasaija, whose ministry oversees the investment aspects of NSSF declared an interest rate of 11.5 percent for the savers, up from 10 percent members received in the financial year 2022/2023.

The interest rate declared by Mr Kasaija, according to NSSF, is above the 10-year average rate of inflation currently at 4.2 percent, and the 2023/2024 inflation which stood at nearly four percent.

In other words, the slightly above Shs2 trillion interest rate, the highest amount of money ever paid in interest to members, hasn’t been weakened by the price changes of goods and services within the 12 months period.

Several analysts commend the NSSF performance describing it as stellar while the Ministry of Finance refers to it as a good return with Minister Kasaija stressing that “it is a job well done”.