The Hon. Minister of Defence and Veteran Affairs, Jacob Markson Oboth-Oboth, has charged the newly appointed Board of Directors of the National Enterprise Corporation (NEC) to prioritise the organisation’s prosperity, growth, and long-term sustainability, while remaining committed to their statutory responsibilities. “I expect total accountability because accountability breeds acceptance and respectability by investors for the Enterprise. Both business prosperity and accountability are at the forefront of every corporation’s strategic thinking, planning, and activity,” Minister Oboth-Oboth emphasised.
The Minister made these remarks during the inauguration of the new NEC Board at its headquarters in Bugoloobi, Kampala. He tasked the Board to steer the corporation towards achieving its purpose in support of the Uganda Peoples’ Defence Forces’ (UPDF) goals, through engaging in activities that contribute to Uganda’s development, as mandated by the Constitution.
Established in 1989 by an Act of Parliament, NEC serves as the commercial arm of the Ministry of Defence and Veteran Affairs/UPDF, producing goods and services beneficial to the Defence Forces and the general public through its subsidiaries and joint ventures.
Gen (Rtd) Joram Mugume, the new Board Chairman, commended the outgoing board for their dedication and hard work, which significantly improved NEC’s performance and led to notable achievements.
Lt Gen James Mugira, NEC’s Managing Director, expressed optimism that the corporation will greatly benefit from the diverse expertise of its new Board members. ” The management looks forward to working closely with the board to take NEC to greater heights,” he said.