OUR STRATEGY:

Stakeholder engagement and value creation

Stakeholder engagement and value creation

OUR STRATEGY:

Stakeholder engagement and value creation

Meeting Expectations
Falling Short of Expectations
Meeting Expectations
Falling Short of Expectations

Suppliers

Good supplier relationships are essential for our success. They help us deliver the solutions and propositions that create customer value.

Needs and expectations

  • The Fund prioritises responsible purchasing, supports local suppliers, maintains prompt payment schedules, and upholds ethical and transparent business practices. We ensure fair terms of trade and sustainable sourcing.

Strategic response to deliver value

  • Continual procurement efficiency and performance assessments, enhanced supplier engagements, competitive supplier promotion, and ensuring prompt, uninterrupted delivery of materials and services.

How we engage

  • We need to know who we are doing business with and who is acting on our behalf. Therefore, we:
    • Select suppliers based on principles of ethical and responsible conduct
    • Conduct due diligence on suppliers before and after signing a contract
    • Ensure the products we purchase are made, delivered, and disposed of in a socially and environmentally responsible manner
    • Utilisation of the electronic Government Procurement (eGP) system
    • Measure suppliers’ rating, and collaborate with them for continuous improvement
    • Conduct the Annual Supplier's Forum to foster communication and partnership
    • Apply preferences to promote local content and ensure that special groups, such as women, youth, and persons with disabilities, are included in our procurement processes

Performance measures/value delivered

  • Directly served 150 suppliers, 84% of these were local suppliers
  • Awarded more than UGX 59.5 billion in strategic procurement contracts
  • Registered a procurement performance rating of 84.6% by Public Procurement and Disposal of Public Assets Authority (PPDA)
  • Our procurement efficiency was 96% (2023: 93%)
  • Conducted the Annual Supplier Forum in April 2024 and registered a Supplier Satisfaction rating of 98%
  • Trained 40 of our procurement champions on revised PPDA regulations and practices
  • Promoted local content and special groups of people such as women, youth, and persons with disabilities to participate in procurements
  • Our supplier approach is shaped by our Sustainable Procurement Charter and incorporation of technology and digitisation in the procurement and disposal processes
  • Continued to build a more resilient supply chain by adding a supplier management risk framework (including internal controls) into our wider key controls framework

Opportunities and outlook

  • Sustainable procurement efficiency, supplier satisfaction and experience
  • Improve contract management practices

Risks

  • Engaging and enlisting unscrupulous suppliers could lead to conflicts of interest, bribery and poor service delivery impacting negatively on our reputation

Contributing to SDGs

Quality of relationship

Business Partners and Industry Associations

Business partners and industry associations are key interfaces with our customers. They are custodians of our brand and reputation, playing a critical role in ensuring the delivery of our strategy.

Needs and expectations

  • The Fund collaborates to stay current with key developments and standards, advocates for beneficial regulatory changes, and enhances product, service, and social security development.

Strategic response to deliver value

  • The Fund participates in industry-led initiatives related to policy and law, engages in business and sector forums, and undertakes capacity-building initiatives.

How we engage

  • One-on-one and hybrid business meetings
  • Training, conference sessions on products, services and best practices

Performance measures/value delivered

  • Collaborated with our partners such as NIRA, URA, URSB, OPM on specific solutions that required a multi-partner approach
  • Conducted workshops and collaborated with the Uganda National Roads Authority, Ministry of ICT, and UNOC regarding contractors’ compliance with NSSF
  • On course together with Mastercard Foundation, to give seed funding of $20,000 each to 5,000 small and growing businesses via the Hi Innovator programme
  • We partnered with innovations accelerators such as Outbox, Stanbic Business Incubator, Mkazipreneur and MUBS Ent’ship Innovations
  • Worked with Banks in supporting our collections, benefits payments and financial market operations
  • Opened and hosting the Liaison Office to manage International Social Security Association (ISSA) activities across East Africa
  • Participated in key international and regional engagements on social security protection and financial literacy

Opportunities and outlook

  • Provide platforms for broader actions on market expansion and social security coverage and development
  • Identify and increase partnerships to support increase in coverage and best practices
  • Address social security-related developments, concerns, and initiatives and sharing lessons and best practice
  • Support realisation of ESG practices and prioritised SDGs
  • Foster relations between ISSA, ILO, and social security schemes in the East African region and globally

Risks

  • Lack of engagements leading to inability to meet regulatory requirements, compliance, and damage to reputation

Contributing to SDGs

Quality of relationship

Communities

We make a substantial economic contribution to the communities we serve, acting as a vital connector within them. This role is essential to achieving our growth plans and fulfilling our purpose: to make savings a way of life.

Needs and expectations

  • In response to the needs and expectations of communities, NSSF brings value through purposeful CSI activities and addresses local community factors, including ESG considerations.

Strategic response to deliver value

  • The Fund implements various CSI initiatives, including the KAVC, school renovations, University Career Expo, and student internships. We conduct Financial Literacy training for customers and continue to provide seed funding for small and growing businesses through the Hi-Innovator programme in partnership with the Mastercard Foundation. Additionally, we have piloted initiatives to support skills and livelihoods development.

How we engage

  • We provide support through walk-in and outreaches
  • Our Hi-Innovator programme brings entrepreneurial skills training and funding to growing and small businesses
  • The real estate portfolio we are developing, including Solana Residences, Temangalo and Pension Towers promote development and employment opportunities
  • We use customer surveys and reputation tracking to understand community perceptions of us and inform our focus areas and targets
  • Our online social media channels bring our brand to local and global communities and we track feedback and performance through dashboards

Performance measures/value delivered

  • We continued to renovate public primary schools, with over UGX 940 million raised from partners, individuals, and communities via the NSSF Kampala Seven Hills Run
  • The University Career Expo 2024 was attended by 21,555 students an increase from 16,000 in 2023). Over the past 12 years, the Expo has registered 44,000 students as Fund members, and contributed over UGX 36.4 billion. The Expo aims to prepare students for the workplace and enhance their job prospects
  • Engaged and impacted 2,376,471 people on financial wellness via our Financial Literacy initiatives
  • We provided $20,000 each to 102 (2023: 155) small and growing businesses through our Hi-Innovator programme, in partnership with the Mastercard Foundation. To date, this programme has created 183,110 jobs
  • Our scalable activities continue to provide great content for our media channels and improve public perception of our Fund

Opportunities and outlook

  • Continue to refine our CSI activities for impact
  • Identify and continue working with partners to positively impact communities and expand social security coverage

Risks

  • The inability to create a positive and sustainable impact on the communities within which we operate has a negative impact on the sustainability of our operations and the economy at large

Contributing to SDGs

Quality of relationship

Media

The media plays a critical role as a contact point with external stakeholders, keeping them informed of facts, business developments, new products, services, and the impact of our business operations.

Needs and expectations

  • The media expects timely and accurate information to report on business developments, products, services, and corporate impacts. They need transparency, accessibility to company representatives for interviews, and clear communication to convey stories effectively.

Strategic response to deliver value

  • The Fund ensures that the media are consistently updated on key business activities and offerings. We prioritise transparency and accountability, providing clear and timely communication about changes and new products and services. By actively engaging with the media, we help them convey accurate and relevant information to the public, fostering an informed and positive narrative about our business.

How we engage

  • Media releases and product- related publicity
  • Roundtables
  • Product and service launches
  • Face-to-face and telephonic engagements
  • Interviews with the CEO and key executives

Performance measures/value delivered

  • By actively engaging with the media, who play a critical role as the contact point with external stakeholders, we help them convey accurate and relevant information to the public
  • Kept our customers and stakeholders informed of the facts, business developments, new products, services, and the impact of our business operations
  • Positively reported on Fund investments, Hi-Innovator programme, 2035 strategy among others
  • Added TikTok-@nssfug as our new channel, gaining a reach of 3,301,378 and 317,955 engagements
  • Registered more than 2,113,318 engagements on our social media channels

Opportunities and outlook

  • Identify and continue working with media to positively impact our customers, stakeholders, regulators, communities, and support in expanding social security coverage

Risks

  • Rapid advances in social media and AI with associated stakeholder scrutiny on misinformation

Contributing to SDGs

Quality of relationship

A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH

Our Members