Former NSSF board Chairman Geoffrey Alan Onegi-Obel Dies in Nairobi

What the report says

Geoffrey Alan Onegi-Obel, a prominent Ugandan investment banker and one of the key figures behind the country’s modern capital markets, has died in Nairobi, according to Watchdog Uganda. The report says he died on Sunday, 18 October 2026, at MP Shah Hospital, where he had been admitted, and was 70 years old. His death was confirmed in a statement from Pinnacle Holdings E.A. Limited, where he served as Group Chairman.

Watchdog Uganda described Onegi-Obel as the founding chairman of the Uganda Securities Exchange and a former chairman of the National Social Security Fund. The article said he helped build the case for a local stock exchange, later opened for trading in January 1998, and was recognized with a lifetime achievement award from the USE. It also noted that he had chaired the NSSF board between 2001 and 2005, where he argued for using pension savings to support long-term national development projects, including housing and mortgage finance.

The article added that his time at NSSF was connected to the controversial Nsimbe Housing Estate project, which led to legal proceedings over alleged abuse of office and claimed financial loss. It said the Anti-Corruption Court acquitted him in 2014. Beyond those roles, he also held leadership positions in banking, publishing, and policy bodies, and served as a senior presidential adviser on trade and AGOA matters.

Watchdog Uganda said funeral and burial arrangements would be announced later. His death marks the end of a long career that the publisher says shaped Uganda’s financial sector and corporate leadership landscape.