Richard Byarugaba

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Richard Byarugaba
Born 1961 (age 55–56)
Residence Kampala, Uganda
Nationality Ugandan
Alma mater Makerere University
(Bachelor of Science in statistics and economics)
Association of Chartered Certified Accountants
(Chartered Certified Accountant)
Henley Management College
Diploma in Management
Occupation Business executive
Years active 1983 — present
Known for Business, management
Title Managing director and chief executive officer
National Social Security Fund (Uganda)

Richard Patrick Byarugaba is a Ugandan business executive, banker, and entrepreneur. He is the managing director and chief executive officer of the National Social Security Fund (Uganda), a semi-autonomous retirement pension organisation for non-government employees in Uganda.[1][2] He was also listed in 2012 as one of the wealthiest individuals in Uganda.[3]

Background and education[edit]

Byarugaba was born in 1961 in the Western Region of Uganda. He attended Makerere University, Uganda's oldest public institution of tertiary education, graduating with a degree in statistics and economics. He is a qualified accountant with the Association of Chartered Certified Accountants of the United Kingdom (UK). He also holds a diploma in management from Henley Management College, also in the UK.[4][5]

Work experience[edit]

Byarugaba has held various positions over the years, with the majority in Uganda's banking sector.[5] He started as a banking officer at Standard Chartered Uganda (Stanchart), in 1983. By 1992, he had risen to executive director for finance at Stanchart. In 1994, he was transferred to Stanchart's international headquarters in London, as the regional manager for finance, responsible for Africa.[6] He returned to Uganda in 1997, where he joined Nile Bank Limited, a private retail bank. He became managing director of the bank in 2003. In 2007, Barclays, the British financial conglomerate, bought all the shares of Nile Bank Limited for US $27 million (UGX:52 billion). The new owners merged the bank with their existing banking interests in the country to form the existing Barclays Bank (Uganda). Byarugaba moved to Baclays Bank (Uganda) as the chief operating officer.[6]

In 2008, when Global Trust Bank (Uganda) was established, the new owners appointed Byarugaba as managing director of the newly created bank.[7] He held that position until 2010 when he left to become the managing director and chief executive officer of the National Social Security Fund (Uganda).[8]

Byarugaba has also worked with Hospice Africa, the Palliative Care Association of Uganda, and the Uganda Institute of Banking and Financial Services. When he resigned from Global Trust Bank, he was the treasurer of the Uganda Bankers Association.[9]

See also[edit]


  1. ^ Mwesigwa, Alon (30 October 2014). "Byarugaba's Great Expectations". The Observer (Uganda). Retrieved 11 December 2014. 
  2. ^ Wakabi, Michael (8 November 2014). "Is Richard Byarugaba Walking A Tightrope At NSSF Uganda?". The EastAfrican (Nairobi). Retrieved 8 November 2014. 
  3. ^ Michael Kanaabi, and Ssebidde Kiryowa (6 January 2012). "The Deepest Pockets". New Vision (Kampala). Retrieved 8 November 2014. 
  4. ^ Musoke, Cyprian (22 July 2010). "Social Security Fund Gets New Boss". New Vision (Kampala). Retrieved 8 November 2014. 
  5. ^ a b Vision Reporter (29 October 2014). "Byarugaba Bounces Back As NSSF Boss". New Vision (Kampala). Retrieved 5 March 2015. 
  6. ^ a b Bloomberg Research (2015). "Profile of Richard Patrick Byarugaba". Bloomberg L.P. Retrieved 5 March 2015. 
  7. ^ Kajoba, Nicholas (7 December 2008). "Byarugaba Is Global Trust Bank's Managing Director". New Vision (Kampala). Retrieved 8 November 2014. 
  8. ^ Lumu, D. T. (18 March 2011). "New NSSF Boss Begins To Feel Heat". The Observer (Uganda). Retrieved 8 November 2014. 
  9. ^ Ismail Musa Ladu (11 October 2011). "Byarugaba Advises On Cost of Banking". Daily Monitor. Kampala. Retrieved 8 November 2014. 

External links[edit]