OUR REPORT OVERVIEW:
Introduction
Integrated thinking
Integrated thinking guides our decisions, expanding our view beyond short-term gains to consider the broader impact on stakeholders and the environment. This holistic approach is reflected in our strong stakeholder engagement, robust risk management, responsible governance, commitment to employee well-being, and focus on digital innovation. We remain agile, adapting to the new NSSF Act Cap 230 to ensure business resilience.
Integrated report recognition
The Institute of Certified Public Accountants (ICPAU), the Uganda Securities Exchange (USE), and the Capital Markets Authority (CMA) host the Financial Reporting (FiRe) Awards on an annual basis.
NSSF secured a prestigious Silver Award at the 2023 FiRe Awards, outshining over 100 competitors. We also received recognition for outstanding Sustainability Reporting, presentation, and Public Sector Reporting, along with a commendation for corporate governance practices.
Process to produce our integrated report
Governance and oversight
Our Board governs the integrated report process, with a dedicated IR Team led by the CFO. Information is gathered from Board and committee meetings, financial data, and non-financial reports
Thorough review process
Drafts undergo rigorous review by a specialised forum before reaching the Executive Committee and Board for approval
Audit and assurance
The Audit and Risk Assurance Committee ensures report integrity through internal and external audits, verifying the accuracy of information presented. This includes oversight of work performed by independent service providers
Board approval - Ensuring report integrity and credibility
NSSF prioritises the accuracy, completeness, and fair representation of information within our integrated report. This is achieved through a multi-layered approach:
Robust systems and controls: We implement strong internal controls and procedures that emphasise diverse input sources, verification processes, and the use of reputable data.
Subject matter expertise: Dedicated teams of internal and external experts, including auditors and various committees, contribute to content creation and thorough review.
Board oversight: The Board plays a critical role in overseeing the entire preparation process. They approve the process itself, determine materiality, set the report's scope, and conduct a final review and approval of content.
Board confirmation and approval
The Board, supported by its committees, is ultimately responsible for the report's integrity. They confirm the information is accurate, comprehensive, and fairly reflects NSSF's material matters, adhering to the Integrated Reporting Framework. The 2024 annual Integrated Report was approved by the Board on 26 September 2024, with all material events up to that point included.
Dr. David Ogong, Chairman from 1 September 2024
Mr. Patrick M Ayota, Managing Director
A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH