Business 17 April 2026 Daily Monitor (Uganda)
Martin Nsubuga Reappointed URBRA CEO After Board Dissolution and Controversy
Martin Nsubuga has been reappointed as CEO of the Uganda Retirement Benefits Regulatory Authority (URBRA) for another five-year term, despite the previous board's refusal to renew his contract due to alleged poor performance. The decision follows a court ruling and presidential directive, with confirmation from Treasury officials. Source: https://www.monitor.co.ug/uganda/news/national/nsubuga-reappointed-to-lead-pension-sector-following-board-shakeup-5427252
Martin Nsubuga has secured another five-year term as Chief Executive Officer of the Uganda Retirement Benefits Regulatory Authority (URBRA), overcoming resistance from the now-dissolved board of directors.
Nsubuga confirmed the reappointment, which was communicated to him recently. Deputy Secretary to the Treasury, Patrick Ocailap from the Ministry of Finance, endorsed the move, calling Nsubuga the ideal leader for the role.
The previous board had declined to extend his contract, which expired on April 14, 2024, pointing to poor performance and other issues. This shocked Nsubuga, industry stakeholders, and players, given his prior strong performance ratings.
URBRA, under the Ministry of Finance, licenses, regulates, and supervises retirement benefits schemes in Uganda’s public and private sectors. It safeguards member funds, maintains stability, sets standards for trustees and providers, and advances pension sector growth.
A court ruling and presidential directive ultimately ensured his reinstatement.
Source: Daily Monitor (Uganda)