Our Performance
CFO's financial review
Advancing sustainability and ESG
In 2023, recognising the increasing demand for broader accountability, the department spearheaded NSSF’s first Sustainability Report (ESG Report). These reports have gone on to win the Overall Sustainability Report of the Year twice at the FiRe Awards affirming our leadership in ESG reporting in Uganda.
Growing the business advisory role
Staying in tandem with the global finance trends, the department has embedded business advisory into its core mandate both for internal functions and external partnerships. This has expanded the team’s strategic lens and enhanced value creation across the Fund’s business eco system.
Looking ahead
The transformation of the Finance Department over the last decade tells a story of vision, agility, and excellence. From automation to strategic advisory, from financial reporting to sustainability leadership. The department continues to evolve, ensuring that NSSF remains future-ready and member-focused.
The future of the Finance function: Driving Vision 2035
The Finance Department’s role is evolving rapidly in response to changes in stakeholder expectations, regulatory frameworks, and the digital landscape. Our forward-looking strategy is structured around four key pillars Customer Centricity, Financial Stewardship, Operational Excellence, and Sustainability Leadership through which we aim to accelerate our contribution to the Fund’s long-term goals.
Customer centricity: Deepening trust and engagement
Finance is no longer just a back-office function; it is now a direct touchpoint in enhancing member experience and satisfaction.
- Enhancing member fund integrity: We are committed to improving the clarity and accuracy of member statements, thereby boosting trust in the Fund, and reinforcing financial security for all members
- Positioning Finance as a strategic advisor: Through financial literacy outreach and other strategic engagements, we are building financial capability, promoting transparency, and strengthening trust both internally and within the broader stakeholder community. Finance plays a proactive role in providing Business Development Services (BDS) to SMEs under the Hi-Innovator Programme, delivered on a pro bono basis. These interventions support national entrepreneurship by equipping emerging businesses with critical financial insights and guidance to drive sustainable growth. Furthermore, Finance leads in-depth strategic business analyses ranging from operational process reviews to internal and external environment assessments. These analyses inform key business decisions, guide policy development, and contribute to enterprise-wide performance improvement
- Strengthening the brand through member satisfaction: Every interaction with Finance is an opportunity to reinforce trust in the Fund. Our focus on responsiveness, clarity, and proactive communication that directly supports a positive brand perception
Financial stewardship: Delivering more with less
In a resource-constrained environment, the Finance Department is redefining value through disciplined budgeting, performance monitoring, and innovative financial practices.
- Optimising cost efficiency: We continue to enhance operational efficiency through robust controls and strategic cost management systems that directly impact the Fund’s expense ratio
- Driving savings and income growth (value creation): By embedding a culture of fiscal discipline and data-driven decision-making, Finance ensures that every shilling is used optimally to generate maximum returns for the Fund. Our commitment to cost efficiency goes beyond cutting costs, it focuses on creating value through strategic resource allocation. A key initiative supporting this effort is the full implementation of Value-Based Budgeting, which strengthens our ability to align spending with the Fund’s priorities, enhance efficiency, and drive sustainable financial growth. We consequently achieved impressive operational cost savings as part of the department’s drive to match costs against value to the business
Operational excellence: Leading through technology and process innovation
To support Vision 2035, the Finance function is undergoing a digital transformation aimed at increasing speed, transparency, and accountability.
- Straight Through Processing (STP): We are spearheading the automation of core finance operations through STP and ERP systems to reduce manual effort and improve turnaround times
Sustainability leadership: Embedding ESG into the business
The Finance Department plays a key role in ensuring that the Fund remains a responsible, forward-looking institution aligned with global Environmental, Social, and Governance (ESG) standards.
- ESG compliance and reporting: We are leading efforts in integrating ESG performance into financial reporting, aligning with global best practices, and supporting organisation-wide sustainability initiatives
- Policy and framework development: Finance provides critical support in shaping ESG policies and ensuring their execution across the Fund’s operations
