Stakeholder Management
and Governance

Our Board of Directors attending a meeting with officials from the Ministry of Gender, Labour and Social Development

Our commitment to create, protect and enable value is demonstrated through our support of ESG imperatives and our strong stakeholder relations.

The Fund is cognisant of the contributions of various stakeholders to its success in the medium- and long-term. The NSSF Stakeholder Management Policy is a framework that provides for the engagement of stakeholders in a strategic, systematic and consistent manner to build trust, partnerships, and ultimately business growth for the mutual benefit of all parties involved.

The overall purpose of the Stakeholder Engagement/Management Policy is to guide the stakeholder management at NSSF, in line with the Fund’s overall business objectives.

This is premised on the fact that NSSF is a high-interest organisation because of its diverse membership, its influence and the effect of its actions on individual savers, potential savers, entities, categories of people or entities, as well as its role in the Ugandan economy.

The Board, through the Staff and Corporate Affairs Committee, has ultimate responsibility for our stakeholder engagement.

Our stakeholder relationships matrix

Our stakeholders are integral to our business and play a vital role in enabling us to create a stronger legacy in our promise to make lives better now and for generations to come. Our stakeholder conversations shape how we define and execute our strategy to include materiality, new business opportunities and sustainable development.

Elsewhere in our integrated report, we provide a comprehensive insight into the nature and quality of the organisation’s relationships with its key stakeholders, including how and to what extent the organisation understands, takes into account and responds to their legitimate needs and interests.
Read more about our stakeholder engagement and value creation
We also provide insight into stakeholder relationships in our governance section under Principle 16 in our King IV disclosure. Here we demonstrate how, in the execution of its governance role and responsibilities, how the Board adopts a stakeholder-inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the organisation over time. The Staff Administration and Corporate Affairs Committee (SACA) oversees the Fund’s approach to stakeholder engagement.
See SACA

Our stakeholder relationships matrix

Our stakeholders are integral to our business and play a vital role in enabling us to create a stronger legacy in our promise to make lives better now and for generations to come. Our stakeholder conversations shape how we define and execute our strategy to include materiality, new business opportunities and sustainable development.

Elsewhere in our integrated report, we provide a comprehensive insight into the nature and quality of the organisation’s relationships with its key stakeholders, including how and to what extent the organisation understands, takes into account and responds to their legitimate needs and interests.
Read more about our stakeholder engagement and value creation
We also provide insight into stakeholder relationships in our governance section under Principle 16 in our King IV disclosure. Here we demonstrate how, in the execution of its governance role and responsibilities, how the Board adopts a stakeholder-inclusive approach that balances the needs, interests and expectations of material stakeholders in the best interests of the organisation over time. The Staff Administration and Corporate Affairs Committee (SACA) oversees the Fund’s approach to stakeholder engagement.
See SACA

In the table below we have a summary of our main stakeholder groups and why we engage with them and vice versa: 

Communities

Why we engage

  • We engage with non-profit organisations on issues important to members and our business
  • We want to remain relevant in the communities in which we operate by focusing on initiatives that will enable long-term sustainable value and drive economic growth in Uganda

Why do they engage with us?

  • To obtain career guidance, knowledge and skills to increase employability and entrepreneurship success
  • To improve financial and investment knowledge to take charge of their future and make informed financial decisions
  • To collaborate and initiate interventions for the betterment of society and the environment

Customers (Members)

Why we engage

  • Customer-centricity is at the heart of what we do and we endeavour to understand our customers’ needs and expectations about quality service and flexible and unique product solutions
  • We use multiple channels to solicit and respond to customers’ feedback about our products, services and the organisation as a whole

Why do they engage with us?

  • To receive sound financial advice and expertise to grow their retirement savings
  • To access new and innovative investment solutions to grow their wealth

Employees

Why we engage

  • To understand employee needs and expectations to create an enabling, high-performing and conducive environment for career progression
  • To provide development opportunities to meet the changing needs of the environment

Why do they engage with us?

  • To provide input into the strategic direction of the Fund to improve long-term sustainable success
  • To share challenges, concerns and solutions to improve the Fund’s performance

Regulators and Policymakers

Why we engage

  • To provide thought leadership on the development of policies and legislation to benefit our existing members, the population of Uganda in the private and public sector and potential investors beyond our borders
  • To develop mutually rewarding partnerships to ensure the safety of the pension system and expand social security coverage
  • To report on compliance with laws and regulations

Why do they engage with us?

  • To ensure oversight and supervision of regulatory compliance
  • Oversight and supervision of the Fund’s investments

Industry Associations

Why we engage

  • We provide a wide range of information to members of the investment community, including both financial and ESG analysts and researchers, through reports, presentations, regulatory filings, conferences and publications on our website
  • In addition, we respond to surveys and specific information requests and engage with analysts and researchers through calls and meetings

Why do they engage with us?

  • They are interested in data and insights about the Pension Industry and related statistics
  • They get information that solves their diverse research needs, thereby helping them make better decisions

SUPPLIERS

Why we engage

  • To proactively support and foster the growth of supplier businesses
  • To create partnerships to collectively help address inequities and structural barriers in supply markets
  • To continually improve efficiency, transparency, and accountability in our procurement practices
  • To source products, services and goods responsibly, taking into account respect for the environment

Why do they engage with us?

  • To provide the Fund with the required services and goods to operate effectively and efficiently

SUPPLIERS

Why we engage

  • To proactively support and foster the growth of supplier businesses
  • To create partnerships to collectively help address inequities and structural barriers in supply markets
  • To continually improve efficiency, transparency, and accountability in our procurement practices
  • To source products, services and goods responsibly, taking into account respect for the environment

Why do they engage with us?

  • To provide the Fund with the required services and goods to operate effectively and efficiently

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