It is however still not known if the president has identified an ideal replacement for Mr Karangi but sources say that already his closest allies are lobbying and angling for an appointment to chair the lucrative parastatal
Even before the dust could settle at The National Social Security Fund following the retirement of the Chief Executive Officer (CEO) Anthony Omerikwa after 7 years at the helm, it has now emerged that more changes are looming and this time targeting the board of management.
According to our sources, the man targeted now is the Board Chairman Julius Waweru Karangi who was appointed for three years through a gazette notice No.10702. The appointment according to the gazette notice by then Cabinet Secretary for Labour Simon Chelugui was to end on 6th October 2024; however, well-placed sources at NSSF reveal that there are plans to terminate his contract as President William Ruto has vowed to carry out radical reforms in the management and structure of NSSF.
It is however still not known if the president has identified an ideal replacement for Mr Karangi but sources say that already his allies are lobbying and angling for an appointment to chair the lucrative parastatal. Immediately after taking the oath of office, President Ruto declared that there are plans which could see the overhauling of the entire NSSF structure.
According to Ruto, the new framework will see the government contribute up to a maximum of Ksh.3000 per year on savings per person covered in the new structure or an equivalent of Ksh.250 per month.
Official data from NSSF shows only 2.55 million Kenyans are active contributors to the Fund which has Ksh. 14.7 billion in total member contributions in the fiscal year ended June 2021.
