PSFU gets 5th board chairperson

Mr. Humphrey Nzeyi is the new chairperson of the Private Sector Foundation Uganda (PSFU).

He was voted in as the fifth chairperson on Thursday, 24th November 2022 at PSFU’s 26th Annual General Meeting (AGM) in Kampala. He replaces Hon. Elly Karuhanga who has been the chairman since 2019. Mr. Nzeyi, who was unanimously voted onto the board by the manufacturing sector embarks his leadership journey at the Private Sector Foundation. To support Nzeyi, Ms. Sarah Kagingo was elected as Vice Chairperson replacing Hon. Victoria Ssekitoleko.

The AGM was attended by over 500 delegates. Nzeyi joins past chairpersons at PSFU boards Mr. Patrick Bitature, Gerald Sendawula, and the late James Mulwana. The 47-year-old new chairperson 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 invests in hospitality tourism, beverages, confectioneries, and ICT.

Mr. Asiimwe Stephen, the Chief Executive Officer, PSFU, applauded 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.

“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 UGX 1.5tn to promote and finance domestic investment in various commercial sectors of the economy with particular emphasis on agriculture, industry, tourism, housing, and commerce,” Hon. Karuhanga, outgoing chairperson said.

On his part, Nzeyi expressed gratitude towards the members for their support and trust in his leadership, and promised to start from where the previous board stopped. “My 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,” he said. Other elected members were Mr. Badru Ntege (ICT), Mr. Issa Ssekitto (Trade and Commerce) Mr. Latimer Mukasa (Member, Financial and Insurance Services), Ms. Angela Bageine (Member, SMEs) Mr. Japheth Katto (Member, Corporates), Kenneth Ayebare (Member, Transport & Logistics), Peter Kimbowa (HR, Skills and Education) Civy Tumusiime (Member, Tourism and Hospitality), and Daniel Kazibwe (Member, Culture and Creative Arts sector) among others.