OUR SUSTAINABILITY:
Message from our Managing Director
A new day brings with it the promise of a brighter future for Uganda. At NSSF, we see this not just as an opportunity but as a call to action. By embracing inclusivity and fostering a culture of entrepreneurship, we can empower Ugandans to save for the future and unlock their full potential. Together with our strategic partnerships, we are building a more sustainable and prosperous future where the success of the Fund and the well-being of our members, society, and the environment are all inextricably linked. This is the essence of shared value, and it is the foundation upon which we will build a stronger, more resilient Uganda for generations to come.
Mr. Patrick M. Ayota, Managing Director
Building a sustainable future, together
This year's Sustainability report reflects our commitment to building a future that benefits the Fund, our members, society, and the environment. We recognise that true sustainability hinges on a holistic approach, where financial success goes hand-in-hand with social responsibility and environmental stewardship.
Our initiatives remain firmly grounded in the UN Sustainable Development Goals (SDGs), particularly SDG 8 (Decent Work and Economic Growth), SDG 1 (No Poverty), and SDG 2 (Zero Hunger). We actively contribute to financial literacy programmes and create economic opportunities, particularly in the agricultural sector.
We acknowledge the potential disconnect between corporate sustainability reporting and the life experiences of the local population. While environmental considerations (SDG 13) are crucial, we prioritise social impact (SDG 8). We do not simply tick boxes; our actions are driven by a genuine commitment to the well-being of our planet, our people, and our communities.
Sustainability as a cornerstone
Everything we do at the Fund is driven by a clear purpose: an unwavering commitment of making saving a way of life while building a strong, prosperous organisation. We recognise the potential for growth in Uganda, and we are committed to using our resources to achieve both financial and social objectives.
Recognising the long-term impact needed to address societal challenges, we are rethinking and innovating our investment approaches. This dedication extends beyond traditional financial strategies. Our groundbreaking Hi-Innovator programme exemplifies this approach. By directly supporting entrepreneurs, many of whom are working in agriculture, we are making long-term investments in Uganda's future.
Hi-Innovator provides them with the resources and mentorship they need to thrive, fostering economic growth and job creation. The programme's success, with UGX 706 million already generated in contributions, demonstrates the power of this approach. We are not only creating a new generation of business leaders but also empowering individuals to build a secure future and contribute to a more prosperous Uganda.
Expanding our reach and empowering our members
Our ambitious Vision 2035 targets 15 million members, representing 50% of Uganda's working population. Reaching this goal necessitates a focus on the informal sector, particularly in agriculture. We are dedicated to building a culture of saving within this segment by enhancing financial literacy and boosting earning potential.
Empowering farmers through market access and productivity
Agriculture plays a key role in achieving our goals. Many Ugandan farmers face challenges in accessing markets for their produce, limiting their income, and hindering their ability to save. NSSF is committed to tackling this issue. We will work to:
Identify and connect farmers with reliable markets, both domestic and international, to ensure they receive fair prices for their crops.
Promote sustainable farming practices that enhance productivity and soil health, ensuring long-term agricultural sustainability.
The Otuke Village experiment: A model for success
In the village of Otuke, we piloted a programme to empower rural women. We linked saving with opportunity by offering them a chance to acquire new hoes through the discipline of saving in their NSSF accounts. Over 6,306 women participated, exceeding their savings goals and collectively saving UGX 18.92 million. This initiative demonstrates the power of financial inclusion and goal setting in building a culture of saving.
Investing in our people
At NSSF, we understand that a healthy workforce is a productive workforce. Our comprehensive wellness programme encourages annual health checkups, provides mental health resources, and promotes healthy lifestyle choices. This investment in our employees not only benefits the Fund but also equips them to be community leaders and agents of positive change.
Focusing on sustainability
In this report, we elaborate on our sustainability related ambitions, goals, and metrics, as well as our progress to date. We are actively developing a robust sustainability framework to guide our governance practices and promote regional sustainability initiatives. The Fund’s vision 2035 emphasises a greater commitment to impact partnering, exploring strategic partnerships that further propel our purpose. Our efforts are deliberate and focused on creating a measurable and meaningful impact beyond being just a social security provider but also a partner in our members’ journeys.
Looking forward
At the Fund, we believe a brighter future for Uganda is a future where prosperity is shared. By empowering our members, particularly those in the informal sector, we are not only fulfilling our social responsibility but also creating a more sustainable and resilient financial ecosystem for generations to come.
Patrick Ayota, Managing Director
A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH