OUR REPORT OVERVIEW

INTRODUCTION

Integrated Thinking

Integrated thinking helps us to expand the boundaries of our mindset, seeing ourselves as part of a larger system and considering the wider impact of our decisions, beyond short term financial rewards.

The Fund embraces integrated thinking through our strong stakeholder relations, robust risk mitigation processes, governance, how we care for our people and stakeholders, ongoing effective transparent communication, and embracing opportunities for digital innovation, and acting with agility to respond to the new provisions of the NSSF Amendment Act 2022 that has ensured our business has remained resilient.

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. We received the gold award for overall winner at the 12th Financial Reporting (FiRe) Awards and remain committed to continually improve our corporate reporting.

NSSF emerged as the overall winner for the 2022 annual Integrated Report at the Financial Reporting Awards organised by ICPAU. We were also winners in the Public Sector category and runners up in Communication, Sustainability and Corporate Governance awards.

The Fund also won the Regional Category in the Corporate Governance Institute of South Africa (CGISA) awards.

Process to Produce our Integrated Report

The report preparation and presentation process are governed by our Board and led by the Executive Committee, with responsibility assigned to a core IR Team, comprising a cross functional working group of subject matter experts with oversight of the CFO (Chief Financial Officer) as the overall project coordinator.

Our 2023 integrated report is prepared with information sourced from minutes of the Board and Executive Committee meetings and workshops as well as financial and non-financial reporting information.

The report drafts are reviewed by a formalised IR Forum, before they are tabled to the Executive Committee, and then finally recommended by the Audit and Risk Assurance Committee and approved by the Board. The Board ensures the integrity of the integrated report through our integrated reporting process, with the Audit and Risk Assurance Committee ensuring that the appropriate assurances are provided by the Executive Committee, internal audit, external audit, and independent service providers.

Board Approval

We have implemented the following rigorous measures to safeguard the integrity and credibility of our integrated report:

  • Establishing robust systems, procedures, and controls that encompass diverse input, checks and balances, internal controls, and the utilisation of reputable sources to ensure the completeness and accuracy of information
  • Assigning appropriate responsibilities to ensure that the reported information is based on inputs, compilation, and review conducted by subject matter experts, internal and external assurance providers, responsible executives, and various work groups and committees
  • Ensuring thorough oversight and involvement of the governing body throughout the preparation process, including the approval of the preparation process itself, determination of materiality, setting parameters for the report's scope, and the final review and approval of content by the governing body committee and governing body itself

The Board, assisted by its sub-committees, is responsible for overseeing the integrity of our integrated report and verifies that they have applied their collective mind in the preparation and presentation thereof. The Board confirms that after a comprehensive review, it is satisfied that the content is accurate, complete and a fair reflection of the Funds material matters, presented in accordance with the Integrated Reporting (IR) Framework. The board approved the 2023 Annual Integrated Report on 26 September 2023. Any material events up to the board approval of this report are also included.

Dr. Peter Kimbowa
CHAIRMAN, BOARD OF DIRECTORS

Patrick Ayota
MANAGING DIRECTOR

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