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Humphrey Nzeyi Replaces Elly Karuhanga As PSFU Board Chairman

L-R: Humphrey Nzeyi, the new Chairman Board PSFU shakes hand with the outgoing Chairman Hon Elly Karuhanga

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

He was voted in as the fifth Chairman on Thursday November 24th 2022 at PSFU’s 26th Annual General Meeting (AGM) at UMA Multipurpose Hall at Lugogo, in Kampala. He replaces Elly Karuhanga who has been chairman since 2019.

Also voted in was Sarah Kagingo elected Vice Chairperson replacing Hon. Victoria Ssekitoleko.

The AGM was attended by over 500 hundred delegates. Nzeyi joins past chairpersons at PSFU boards Patrick Bitature, Gerald Ssendawula, and the late. James Mulwana.

The 47-year –old new Chairman, 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 & Insurance Services,  Angela Bageine – Member (SMEs), Japheth Katto – Member (Corporates), Kenneth Ayebare  – Member (Transport & Logistics), Peter Kimbowa (HR, Skills and Education),  Civy Tumusiime – Member (Tourism & Hospitality) and Daniel Kazibwe – Member (Culture & Creative Arts sector) among others.

Outgoing members are  Charles Kareba (Logistics and transport),  Adyeri Omara SMEs and Skills,  Rajesh Chaplot (corporates), Mr. Gordon Ssentiba (Financial Services), 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 of Private Sector Foundation

Sarah Kagingo the vice Chairperson was voted unopposed by the professional services sector replacing Victoria Sekitoleko.

Sarah Kagingo (Left) with Humphrey Nzeyi, the new Chairman Board PSFU

Elly Karuhanga, the outgoing chairman board, PSFU, has 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,  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.

The new chairman 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 UGX 1.5t to promote and finance domestic investment in various commercial sectors of the economy with particular emphasis on agriculture, industry, tourism, housing, and commerce,” he said.

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