Creating shared value through sustainable initiatives to make lives better
In the Now You Can Universe, we reinforce our commitment to making lives better by continuing to engage in initiatives and programmes that create sustained value for our members, stakeholders, and society to secure our long-term success. The Fund, through its Corporate Social Investment (CSI), undertakes initiatives that provide positive social, environmental, and economic value to society.
Whereas the CSI initiatives demonstrate our commitment to being responsible corporate citizens, the value derived from them is not easily trackable over time.
The Fund, therefore, seeks to engage in more sustainable initiatives and solutions to create lasting value for its members, stakeholders, and society beyond CSI.
The major initiatives and programmes being undertaken are as follows:
This programme commenced in 2019 on the back of a 2018 internal survey which revealed that 80% of NSSF beneficiaries deplete their entire savings after only 2 years.
The programme is aimed at empowering members and sections of the public with financial and investment knowledge to enable them to make informed and better financial decisions.
This is an initiative aimed at supporting youth, small, and medium-sized businesses to sustainably grow through entrepreneurship education, funding, and technical support. The Fund is undertaking this initiative in partnership with the Master Card Foundation. A USD 10 million five-year funding was created to provide seed capital to qualifying entrepreneurs.
The intention is to fund 100 start-ups for the next 5 years. This will not only increase the Fund’s membership base but also contribute to economic growth through widening the tax base, creating employment opportunities and in turn making lives better.
The Fund’s strategy, a people-driven innovation culture, is the most effective way of securing high employee engagement.
The Fund drives innovation at three levels:
The idea is to continuously optimise the core business to become leaner, more cost-effective, and overall, more efficient. This is driven principally by the Heads of Departments and the general operational needs of the business.
The internal innovation portfolio is starting to gain traction with some products already active in the market, while some remain at a proto-type or concept development stage as indicated below:
The Fund has over time created incredible internal capacity evidenced by the sustained remarkable performance and it has exported this success to society, companies, and the spaces that its professionals occupy.
The key contributions to highlight here are: