OUR GOVERNANCE AND SUSTAINABILITY

Global Reporting Initiative

Global Reporting Initiatives

OUR GOVERNANCE AND SUSTAINABILITY

Global Reporting Initiative

National Social Security Fund of Uganda – Global Reporting Initiative Report as at 30 June 2024

NSSF is committed to transparent and accountable ESG reporting, adhering to globally recognised frameworks such as the Global Reporting Initiative (GRI) and the Sustainability Accounting Standards Board (SASB). Materiality assessments (see page 9 of our Sustainability Report) help us identify key ESG topics relevant to our operations, shaping our reporting practices and guiding our sustainability strategies. This alignment ensures that our efforts meet organisational goals and stakeholder expectations.

Sustainable development goals

We have prioritised stakeholder issues according to their economic, environmental, social, and financial impact as guided by the GRI reporting framework and have adopted the Global Reporting Initiative's (GRI) Standards (2016) for purposes of this report.

GRI supports the UN (United Nations) 2030 Sustainable Development Goals (SDGs), and our report demonstrates that the activities undertaken by the Fund contribute to the objectives of the SDGs. Our business activities are geared to have a positive impact on people, the planet and prosperity.

Last year, the Fund conducted a comprehensive baseline assessment of all key strategic initiatives. This involved detailed research and analysis to evaluate our current practices, identify areas for improvement, and assess our progress against various frameworks, such as the UN Sustainable Development Goals (SDGs). As a result, we have aligned and prioritised specific SDGs, focusing on integrating sustainability into our overall strategy and financial reporting.

The Fund has prioritised the following 7 SDGs:

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The fund also contributes to the following SDGs:

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The tables that follow provide a structured view for the National Social Security Fund of Uganda to report on our economic, environmental, and social impacts. Any numbers and values disclosed are as at 30 June 2024.

Part 1: Profile

Fund Name: National Social Security Fund

Registered office:

  • Workers House

Link

GRI Disclosure, Description/Response

SDG

Purpose

  • The National Social Security Fund (NSSF) is the leading provident fund in Uganda, established to provide financial security for workers in the private sector
  • We accept voluntary contributions from self-employed persons and allow members to make additional contributions (top-ups) on their mandatory savings.

Integrated report

  • Page 11

Sustainability report

  • Page 4

Link

Governance Structure

  • Our corporate governance structure and practices have enabled us to create value for the Fund, our members and all our stakeholders in an ever-changing environment

Integrated report

  • Page 73

Sustainability report

  • Page 54

Link

Membership

Strong membership base:

  • 2.4m registered members
  • 32,3K registered employers

Integrated report

  • Page 11

Sustainability report

  • Page 4

Link

Reporting Period

  • Reports are prepared annually for the period 1 July 2023 to 30 June 2024
  • We have, for many years prepared and issued annual integrated reports, annual financial statements. In 2023 we published our first Sustainability (ESG) Report and have done so again in 2024

Integrated report

  • Page 2

Sustainability report

  • Page 2

Link

Report overview
Integrated report
Sustainabilty report
Digital report
AFS report

Awards received

  • Special recognition for good Corporate Governance Reporting at the Financial Reporting (FiRe) Awards 2023
  • Award for integrated reporting from the Chartered Governance Institute of Southern Africa and the JSE 2023

Integrated report

  • Pages 4,66,101,102

Sustainability report

  • Page 46

Link

Report overview

Report Coverage

  • Our Integrated Report highlights our journey over the past year, focusing on our strategy, performance, opportunities, and outlook in financial, economic, social, governance, and environmental matters. We also produce a digital version of our Integrated Report. The focus of our Sustainability (ESG) Report is on economic, social, governance, and environmental matters

Part 2: Economic

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GRI Disclosure, Description/Response

Revenue (GRI 201-1)

Integrated report

  • Page 21

Sustainability report

  • N/A

Link

Operating Costs (GRI 201-1)

Integrated report

  • Page 103

Sustainability report

  • N/A

Link

Capital Expenditures (GRI 201-1)

Integrated report

  • AFS

Sustainability report

  • N/A

Link

  • N/A

Payments to Governments (GRI 201-1)

  • Responsible corporate citizen and commitment to SDGs; Taxes Paid (Direct & Indirect) spend of UGX 236.77Bn (June 2023: UGX 216.27Bn)

Integrated report

  • Page 25

Sustainability report

  • Page 34 (Enabling Uganda's economy)

Link

Number of Employees by Region (GRI 202-1)

  • 605 employees

Integrated report

  • Page 11

Sustainability report

  • Page 4

Link

Significant Investments (GRI 202-2)

  • Substantial investment in our Enterprise Architecture UGX 4.6Bn (June 2023: UGX 12.9Bn)

Integrated report

  • Page 23

Sustainability report

  • Page 34

Link

Manufactured Capital

Infrastructure Investments (GRI 203-1)

  • Infrastructure spend (branches and contact centres) UGX 11.2Bn (June 2023: UGX 10.5Bn)

Integrated report

  • Page 23

Sustainability report

  • N/A

Link

Manufactured Capital

Local Procurement (GRI 203-2)

  • Buy Uganda Build Uganda (BUBU) (98.8% of procurements are with local suppliers)

Integrated report

  • Page 23

Sustainability report

  • Page 31

Link

Social and Relationship Capital

Community Development (GRI 203-3)

  • Financial literacy campaigns UGX 0.5Bn (June 2023: 0.37Bn)
  • Hi-Innovator Programme in partnership with the Mastercard Foundation to support start-ups and create employment opportunities

Integrated report

  • Pages 23, 63

Sustainability report

  • Pages 26,36

Link

A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH

Part 3: Environmental