OUR STRATEGY:

Strategy @ a glance

Our FY2025 Strategy commenced in 2015 and remains relevant in our operating context, despite uncertainties in the external environment. The illustration below depicts an overview of our FY2025 Strategy.

Key risks impacting achievement of strategy

Strategic risk refers to risks that could substantially impact the Fund’s assets and earnings.

Complexity of laws and regulations impacting the Fund's operations.

The Fund's revenue stream is at risk due to regional market volatility and currency fluctuations, leading to unrealised losses resulting from the appreciation of the Ugandan shilling against the Kenyan shilling.

The instability of the core system presents a potential risk.

Ongoing investigations have created a reputational risk, impacting internal processes, employees, and member services.

Integrating ESG into our FY2025 Strategy

Good corporate governance is implemented in an integrated manner, promoting an ethical culture, good performance, effective control and legitimacy

Measured through defined Key Performance Indicators to track performance included in the organisation’s Balanced Scorecard and cascading to employee scorecards. Reward and remuneration is linked to both individual and business performance.

Reflection on strategy for the period under review

As we enter the final year of our 2025 strategy, we celebrate significant milestones and unwavering commitment to our core goals. During this period, we continued to focus on our four key objectives:

Member satisfaction:
We aimed for a 95% customer satisfaction rate.

Financial strength:
We targeted a Fund Asset size of UGX 21.10 (up from the initial UGX 20Tn). In addition, despite the challenges posed by escalating global supply chain prices, we have maintained a strong focus on improving cost efficiency across our operations.

Operational efficiency:
We strived to pay members claiming benefits within 1 day.

Employee well-being:
We prioritised a 95% staff satisfaction rate.

This year, the Fund made considerable progress towards these goals. Key strategic initiatives included:

Building strategic partnerships: We established a dedicated department to explore and establish partnerships, expanding our reach and impact.
Driving innovation: We embraced technological advancements to enhance our services and member experience.
Enhancing culture: We conducted a culture benchmark exercise to identify strengths and weaknesses, creating a roadmap for building a future-proof workplace culture.

Embracing ESG: Partnering with an ESG Advisor, we implemented a comprehensive approach to integrate environmental, social, and governance practices within our operations. This included policy development, cultural evolution, and a dedicated team.
Empowering agriculture: Recognising its importance to Uganda's economy, we strategically invested by establishing the National Agricultural Marketing Company (NAMCO). NAMCO empowers farmers by connecting them to new markets and opportunities, promoting job creation, food security, and financial inclusion at the household level.

Expanded value proposition: We piloted the "Smart Life" product, expanding our offerings to meet short- and medium-term savings needs of our members.
Livelihood programme: This new initiative is designed to support economically disadvantaged youth and young women in grassroots communities across Uganda. By facilitating their transition into business, the programme aims to boost their income-generating capabilities and improve their quality of life. Additionally, it seeks to expand its membership base and enhance social security through contributions from community members.

Looking forward to Vision 2035

Our 2025 strategy has proven remarkably successful, positioning us to achieve most targets ahead of schedule. This sturdy foundation allows us to look forward with ambition. Building upon these successes, we have established ambitious targets for the next decade in our Vision 2035:

Expanding coverage

We aim to achieve a 50% coverage rate of Uganda's working population, increasing our membership base to 15 million. Targeted initiatives will focus on the informal sector, fostering a culture of saving and building the willingness and capacity to save.

Financial sustainability

We aim to grow our asset size to UGX 50 trillion.

Stakeholder focus

We are committed to achieving a 95% stakeholder satisfaction rate, encompassing members, employees, and partners.

A NEW DAY - CREATING SHARED VALUE FOR SUSTAINABLE GROWTH

Progress on aspirations