Patrick Ayota

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

Patrick Ayota
Born (1960-08-26) August 26, 1960
Tororo, Uganda
Alma materLiberty 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
TitleManaging Director
National Social Security Fund Uganda and
Chairman
New Vision Group

From 29 October 2017 until August 2023, he served as the Deputy Managing Director of NSSF Uganda.[2] He also concurrently serves as 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, serving as 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

References
  1. David Vosh Ajuna (18 August 2023). "Amongi appoints Patrick Ayota as NSSF MD". Daily Monitor. Kampala, Uganda. Retrieved 19 August 2023.
  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. NVG (24 October 2017). "New Vision Group: Board of Directors". Kampala: New Vision Group (NVG). Retrieved 24 October 2017.
  5. 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.
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