David Chandi Jamwa, the former Managing Director of the National Social Security Fund (NSSF), has been included in a list of 13 inmates granted forgiveness under the Presidential prerogative of mercy, in a surprising turn of events. The presidential instrument of pardon, exercised by President Yoweri Museveni, cited public health and humanitarian grounds for the decision.
Jamwa, who had been sentenced to 12 years in prison for abuse of office and causing a financial loss of sh3 billion by the Anti-Corruption Court, was accused of selling government bonds held by NSSF before maturity to Crane Bank in 2007, resulting in a lower-than-expected return for NSSF.
The bonds, initially purchased at sh34 billion, were expected to reach sh39 billion after three years. However, Jamwa’s decision to sell them prematurely led to NSSF receiving only sh36 billion. After an initial conviction and subsequent bail, the Supreme Court in 2019 canceled the bail, reaffirming the 12-year sentence.
David Chandi Jamwa’s Response: Unfair Judgment and Management Strategies
In an exclusive statement, David Chandi Jamwa, who maintains his innocence, responded to the allegations and reflected on his tenure as the NSSF Managing Director. He acknowledged imperfections but argued that his alleged faults were tactical rather than strategic, emphasizing his role in increasing returns on members’ savings through smart investment decisions.
Jamwa addressed accusations of taking salary advances, irregular office attendance, and dressing casually. He clarified that the salary advances were within his contractual rights, and his management style aimed to bridge the gap between staff and management, fostering openness and a sense of unity.
Regarding the NSSF credit card, Jamwa claimed to pay all expenses from his own funds, emphasizing that he neither used workers’ money nor owed any amount to NSSF or associated companies on the credit card.
Controversial Projects and Achievements
Jamwa delved into the Lumumba Avenue project, asserting the necessity of redesign due to outdated plans and highlighting his commitment to value optimization within legal frameworks. He clarified that construction had not commenced, and variations were made within permissible limits.
Highlighting his achievements, Jamwa discussed transforming NSSF’s investment policy, diversifying its portfolio, and increasing returns for members. He addressed issues such as the Nsimbe investment and the Lubowa housing estate, presenting his efforts to restructure projects for better returns and eliminating fraudulent activities within NSSF.
Despite the accusations, Jamwa maintained that history would eventually provide a fair and glorious judgment on his actions.
