OUR BUSINESS:

Five year performance review

Five year performance review

OUR BUSINESS:

Five year performance review

Income statement

Five Year Performance Review Actual 19/20 Ushs. Billion Actual 20/21 Ushs. Billion Actual 21/22 Ushs. Billion Actual 22/23 Ushs. Billion Actual 23/24 Ushs. Billion Budget 23/24 Ushs. Billion Actual 23/24 vs Actual 22/23 Var % Actual 23/24 vs Budget 23/24 Var % CAGR (19/20-23/24)
Total Income 1,471 1,837 1,776 1,158 3,180 2,349 175% 35% 21%
Total Revenue(Core) 1,472 1,696 1,912 2,201 2,529 2,349 15% 8% 14%
Total Cost* 158 164 203 191 222 228 16% -3% 9%
Profit Before Interest & Tax 1,312 1,672 1,573 968 2,958 2,121 206% 39% 23%
Profit After Tax 1,160 1,505 1,393 774 2,742 1,908 254% 44% 24%

Total Costs (Operating Expenditure)* Operating expenses represent costs incurred to support income generation for the Fund. Major categories include staff costs, equipment costs, costs associated with Fund Premises and other costs. These have grown at a CAGR of 9% over the past 5 years in line with the fund's initiatives expected to deliver the target values and activities.

Financial position (UGX' Bn)

Five Year Performance Review Actual 19/20 Ushs. Billion Actual 20/21 Ushs. Billion Actual 21/22 Ushs. Billion Actual 22/23 Ushs. Billion Actual 23/24 Ushs. Billion Budget 23/24 Ushs. Billion Actual 23/24 vs Actual 22/23 Var % Actual 23/24 vs Budget 23/24 Var % CAGR (19/20-23/24)
Total Assets 13,284 15,559 17,255 18,560 22,133 21,095 19% 5% 14%
Fixed Income Investments 10,235 11,773 13,061 14,340 17,293 16,332 21% 6% 14%
Equity Investments 1,912 2,378 2,607 2,370 2,924 2,878 23% 2% 11%
Real Estate 943 1,142 1,173 1,303 1,536 1,691 10% -15% 11%
Total Investments 13,090 15,292 16,842 18,013 21,752 20,901 20% 4% 13%
Accumulated Members' Funds 13,062 15,299 16,962 19,068 21,950 20,790 15% 6% 14%

Financial performance (%)

Five Year Performance Review Actual 19/20 Ushs. Billion Actual 20/21 Ushs. Billion Actual 21/22 Ushs. Billion Actual 22/23 Ushs. Billion Actual 23/24 Ushs. Billion Budget 23/24 Ushs. Billion Actual 23/24 vs Actual 22/23 Var % Actual 23/24 vs Budget 23/24 Var % CAGR (19/20-23/24)
Realised Return on Average Investment (%) 12.1% 11.9% 11.9% 12.6% 12.7% 11.2% 1% 13% N/A
Cost Income Ratio (%) 10.77% 8.95% 11.44% 16.45% 6.97% 9.69% 58% 28% N/A
Cost of Administration (%) 1.19% 1.06% 1.18% 1.03% 1.00% 1.08% 2% 7% N/A

Member's fund statistics (UGX 'M)

Five Year Performance Review Actual 19/20 Actual 20/21 Actual 21/22 Actual 22/23 Actual 23/24 Budget 23/24 Actual 23/24 vs Actual 22/23 Var % Actual 23/24 vs Budget 23/24 Var % CAGR (19/20-23/24)
Contributions Collected 1,272 1,367 1,486 1,717 1,932 1,920 13% 1% 11%
Benefits Paid 496 642 1,189 1,199 1,121 1,572 6% 29% 24%

Member's fund statistics

Five Year Performance Review Actual 19/20 Actual 20/21 Actual 21/22 Actual 22/23 Actual 23/24 Budget 23/24 Actual 23/24 vs Actual 22/23 Var % Actual 23/24 vs Budget 23/24 Var % CAGR (19/20-23/24)
Interest Credited to Members** 1,154 1,516 1,380 1,584 2,073 1,906 31% 9% 16%
Interest Declared (%) 10.75% 12.15% 9.65% 10% 11.5% 10.00% 15% 15% N/A
Compliance Level (%) 55% 51% 55% 57% 57% 60% 0% -5% N/A
Benefits Processing Time (Days) 7 8 11 12 10 7 -15% 44% N/A

Interest Credited to members** Interest credited to members has grown by a CAGR of 16% in the past five years due to continued exceptional performance posted by the Fund. The rates declared have consistently surpassed the 10-year average inflation threshold.

Customer satisfaction rate (%)

Five Year Performance Review Actual 19/20 Ushs. Billion Actual 20/21 Ushs. Billion Actual 21/22 Ushs. Billion Actual 22/23 Ushs. Billion Actual 23/24 Ushs. Billion Budget 23/24 Ushs. Billion Actual 23/24 vs Actual 22/23 Var % Actual 23/24 vs Budget 23/24 Var % CAGR (19/20-23/24)
Internal Customers (Staff) 93% 94% 93% 86% 89% 90% -8% -4% N/A
External Customers (Members) 88% 86% 86% 88% 87% 90% 2% -2% N/A

Operational highlights

NSSF received the Building and Construction Authority (BCA) Green Mark Award certification for the Lubowa Housing Development.

A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH

Business model & value creation