Pillar 1: 50% coverage
15 million Ugandans are actively saving for improved financial resilience
Our Strategy
Introduction to strategy
As the sun sets on our 2015 – 2025 strategy, we begin yet another 10-year journey of transformation. A New Dawn. We face significant existential challenges and opportunities which our new strategy – Vision 2035 – aims to exploit. What is shaping the world we will find in 2035?
We are closely monitoring several emerging trends, particularly shifting global demographic forces. As many industrialised economies experience ageing populations, Africa’s population is projected to surpass India’s by 2035, with Uganda expected to have 66 million inhabitants. Like much of Africa, most of Uganda’s population will be entering the prime of their working lives.
However, without the convergence of human capital development, job creation, and accelerated economic growth, the Fund risks missing out on the potential demographic dividend.
As an institution that depends on a thriving workforce for its sustainability, we cannot afford to be spectators. We must play an active role in shaping the future, driving job creation, and ensuring these jobs are secured by social security.
This is our strategic goal: 15 million working Ugandans with active social security accounts by 2035. This represents 50% of the projected workforce and forms the first of three strategic pillars anchoring Vision 2035.
66 million – Uganda’s projected population by 2035. Around 30 million will be in the labour force., and our goal is to extend social security coverage to 50% of them.
Another trend that we are monitoring is the impact of demographics on the global economy. As the industrialised economies age, they are entering a “decumulation” phase, with baby boomers liquidating their pension savings.
This will have an impact on the cost and flow of capital. As capital leaves emerging markets to take advantage of rising interest rates in developed economies, countries like Uganda will increasingly need to fund development from local capital sources. In this environment, the patient capital of pension funds will assume greater importance.
To position ourselves for this future, we will diversify our investments into alternatives, such as infrastructure and commercial agriculture. By 2035, we aim to double the value of our assets under management to UGX 50 trillion, significantly reducing our reliance on traditional government bonds.
These changes represent an inescapable reality: the businesses that will prosper are those with a purpose beyond profit, one that promotes the interests, safety, and prosperity of their stakeholders. We call this our shared purpose, a principle that that 95% of our stakeholders resonate with, positioning the Fund as a catalytic agent for social and economic transformation. This is our Vision 2035!!
Social security provider of choice
Make life better for more Ugandans through savings as a lifestyle
Pillar 2: 50Tn in AUM
A resilient asset base that is leveraged to attract new investments into the economy in infrastructure, agriculture and private equity
Pillar 3: 95% satisfaction
Purposeful work for our staff, meaningful benefits for our members, a happier, healthier and wealthier society