Patrick Ayota

Last updated
Patrick Ayota
Born (1960-08-26) August 26, 1960 (age 63)
Tororo, Uganda
Alma mater Liberty University
(Bachelor of Science)
University of South Carolina
(Master of Business Administration)
(Certified Public Accountant)
Occupation(s) Accountant and Business administrator
Years active1986—present
Known forAccounting and Administrative skills
Title Managing Director
National Social Security Fund Uganda and
Chairman
New Vision Group

Patrick Michael Ayota is a Ugandan accountant and corporate executive, who is the Managing Director of National Social Security Fund of Uganda, effective 18 August 2023. Between December 2022 and August 2023, he was CEO/Managing Director at NSSF Uganda, in acting capacity. His contract as MD/CEO runs until August 2028. [1]

Contents

From 29 October 2017 until August 2023, he was the Deputy Managing Director of NSSF Uganda. [2] He also is the Chairman of the New Vision Group, a media conglomerate, partly owned by the Government of Uganda. [3]

Background and education

He was born in Tororo District, in the Eastern Region of Uganda. He attended local Ugandan schools for his pre-university education. He studied at Liberty University in Lynchburg, Virginia, in the United States, graduating with a Bachelor of Science degree. [4] Later, he was admitted to the University of South Carolina, at Columbia, graduating with a Master of Business Administration. He is also a Certified Public Accountant, [5] and a member of the Institute of Certified Public Accountants of Uganda. [6]

Career

Following his graduate studies, he took up residence in the Atlanta, Georgia area in the United States. He was employed at its Atlanta offices, by the Reznick Group, which today is CohnReznick, a large international accounting firm. In 2007, Ayota returned to Uganda and took up employment as the Head of Finance at Barclays Bank of Uganda (today Absa Bank Uganda Limited). [5]

In 2010 Ayota left Barclays Bank and was hired by the National Social Security Fund of Uganda (NSSF Uganda), as the Chief Finance Officer. In a search for new top management at NSSF Uganda, in June 2014, Ayota scored the highest marks for Deputy Managing Director. [7] However, with the intervention of president Yoweri Museveni, a different top team was hired and Ayota remained Head of Finance at the institution. [8] In October 2017, further changes were made to the NSSF Board and Ayota was named as substantive Deputy Managing Director. [2]

Other considerations

During his stay in the United States, Patrick Ayota was an active member of the Ugandan community in North America, and was Chief Financial Officer of the Ugandan North American Association (UNAA), from 2001 until 2002, and as the Chairman of the UNAA Electoral Commission in 2005. [9]

Effective 2016, he sits on the board of directors of the New Vision Group, as a non-executive director. [4] He also sits on the board of Housing Finance Bank, Uganda's mortgage lender, where NSSF Uganda has 50 percent shareholding, also as a non-executive director. [10]

See also

Related Research Articles

The New Vision is a Ugandan English-language newspaper published daily in print form and online.

Housing Finance Bank (HFB) is a commercial bank in Uganda. It is one of the commercial banks licensed by Bank of Uganda, the national banking regulator.

Tropical Bank is a commercial bank in Uganda. It is licensed and supervised by the Bank of Uganda, the country's central bank and national banking regulator.

<span class="mw-page-title-main">National Social Security Fund (Uganda)</span> Quasi-government agency

The National Social Security Fund (NSSF), is a quasi-government agency responsible for the collection, safekeeping, responsible investment, and distribution of retirement funds from employees of the private sector in Uganda who are not covered by the Government Retirement Scheme. Participation for both employers and employees is compulsory. The Uganda National Social Security Fund is the largest pension fund in the countries of the East African Community, with total assets of USh18.58 trillion, as of June 2023.

Uganda Clays Limited (UCL), commonly referred to as Uganda Clays, is a building materials manufacturer in Uganda. The company manufactures baked clay building products, using Italian-made heavy clay processing machinery. The clay is excavated using surface mining techniques. The company is listed on the Uganda Securities Exchange (USE), being the first equity to list on the exchange in 2000.

Bulaimu Muwanga Kibirige,, commonly known as BMK, was a Ugandan businessman, entrepreneur, and hotel owner. According to a 2012 published report, he was one of the wealthiest people in Uganda.

Amos Nzeyi is a Ugandan businessman, entrepreneur, and industrialist. He is one of the wealthiest people in Uganda.

Richard Patrick Byarugaba is a Ugandan business executive, banker, and entrepreneur. He is the former 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. He served in that capacity from November 2017 until November 2022. He was also listed in 2012 as one of the wealthiest individuals in Uganda.

Edigold Monday, a Ugandan accountant, businesswoman, bank executive, and educator. She is the Uganda Country Director of Sparkassen-Finanzgruppe's foundation for international cooperation ., since December 2018.

<span class="mw-page-title-main">Samuel Sejjaaka</span> Ugandan accountant and businessman

Samuel Kisakye Sejjaaka is a Ugandan accountant, academic and businessman. He is Principal and Country Team Leader at MAT ABACUS Business School. Between 1993 and 2014, he lectured at Uganda's oldest tertiary institution, Makerere University and rose to the position of Deputy Principal. In December 2014, he retired from the institution at age 50. He then helped establish Abacus Business School, Uganda's premier executive education institution. In 2019, Abacus Business school merged with the Management Accountancy Training Company (MAT) to form MAT ABACUS Business School.

Geraldine Ssali Busuulwa is a Ugandan accountant and business administrator. She serves as the Permanent Secretary in the Uganda Ministry of Trade, Industry and Cooperatives. She was appointed permanent secretary on the 15th of July 2021.

Juma Kisaame is a Ugandan accountant, businessman, and former bank executive. He is the current chairman of the Uganda Revenue Authority, since March 2020. He also serves as chairman of Uganda Investment Authority.

The Institute of Certified Public Accountants of Uganda is a professional body for certified public accountants (CPAs) in Uganda. As of July 2016, total membership was about 2,000 members.

Barbara Kaija is a Ugandan journalist and educator, she serves as the editor in chief, and head of content generation at the Vision Group. A largely government owned media house. New Vision.

Nicholas John Okwir is a Ugandan accountant, banker and business executive, who served as the founding managing director and chief executive officer of Housing Finance Bank, Uganda's largest mortgagee lender, between November 2007 until December 2013.

Michael Karokora Mugabi, is a Ugandan lawyer and corporate executive, who serves as the managing director and chief executive officer of Housing Finance Bank (HFB), a commercial and mortgage bank headquartered in Kampala, Uganda's capital city. The bank is co-owned by the Uganda National Social Security Fund and the Uganda Ministry of Finance, Planning and Economic Development.

Richard Wejuli Wabwire is a Ugandan lawyer and judge, on the High Court of Uganda. He was appointed to the High Court on 8 February 2018.

Mumba Kalifungwa, is a Zambian accountant and corporate executive, who is the managing director and chief executive officer of Absa Bank Uganda Limited, a commercial bank in Uganda, whose assets were valued at US$1.19 billion as of December 2023. He took up this assignment on 1 April 2020.

Michael Taremwa Kananura, is a Ugandan accountant and corporate executive who was appointed as the Chief Executive Officer (CEO) in acting capacity, at Uganda Electricity Transmission Company Limited (UETCL), effective 10 August 2022. Before his new assignment, he worked as the chief financial officer, at UETCL.

Gerald Paul Kasato is a Ugandan accountant, lawyer, and business executive. He is the deputy managing director and deputy chief executive officer of NSSF Uganda, since 21 June 2024. He worked in the same position in acting capacity from August 2023 until June 2024. Before that, he was the chief investment officer (CIO) at the same institution between 2014 and August 2023.

References

  1. ↑ David Vosh Ajuna (18 August 2023). "Amongi appoints Patrick Ayota as NSSF MD". Daily Monitor . Kampala, Uganda. Retrieved 19 August 2023.
  2. 1 2 Emmanuel Ainebyoona (23 October 2017). "Finance Minister declines to renew Ssali's contract, names new NSSF Deputy Managing Director". Daily Monitor . Kampala, Uganda. Retrieved 24 October 2017.
  3. ↑ Samuel Sanya (13 November 2020). "Vision Group weathers COVID-19, to issue dividend and diversify". New Vision . Kampala. Retrieved 3 January 2020.
  4. 1 2 NVG (24 October 2017). "New Vision Group: Board of Directors". Kampala: New Vision Group (NVG). Retrieved 24 October 2017.
  5. 1 2 Bloomberg Research (2010). "Executive Profile: Patrick M. Ayota". New York City: Bloomberg Research . Retrieved 24 October 2017.
  6. ↑ TAU (June 2012). "Institute of Certified Public Accountants of Uganda: List of New members admitted in December 2011 and January to March 2012" (PDF). Kampala: Today's Accountant Uganda (TAU). Retrieved 24 October 2017.
  7. ↑ Frederic Musisi, and Richard Wanambwa (19 June 2014). "NSSF board approves Agaba, Ayota for top jobs". Daily Monitor . Kampala. Retrieved 24 October 2017.
  8. ↑ Wakabi, Michael (8 November 2014). "Is Richard Byarugaba walking a tightrope at NSSF Uganda?". The EastAfrican . Nairobi. Retrieved 24 October 2017.
  9. ↑ Namunyak, Kemunto (5 September 2005). "Abdul Kimbugwe is the new president of Ugandans in North America". Minneapolis: Mshale.com. Retrieved 24 October 2017.
  10. ↑ HFBU (24 October 2017). "Housing Finance Bank: The Board and Top Management". Kampala: Housing Finance Bank (HFBU). Retrieved 24 October 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.