As part of our digital annual strategy, the Fund closed the year with an electronic channel to walk-in ratio of 94:6, the top walk-in drivers were mainly claims received, employee registration, member details update and benefits verification.
We embarked on the corporate website redesign project to create increased visibility of products and services, i.e. Financial Literacy, Voluntary Contributions, Friends With Benefits among others. A key objective of the redesign is to ensure that our corporate online presence is modern for both the frontend User Interface (UI) and User experience (UX) and backend technologies, fast loading time as well as responsiveness across desktop/laptop, mobile and tablet.
NSSF appeared 130,109 times on Google Search with 9,362 of the total clicks coming to our assets. The most popular search query was NSSF Uganda with 16,413 impressions and a click through rate of 10.2% compared to the market average of 5%.
All our service centres were mapped to Google Maps since we observed a number of Google Searches for our branches. The plan for FY2021/22 is to publish self-service content on each Google listing to divert footfall from the respective branches.
The 30-day active installed base for the NSSFGo App grew by 67.8% from 45,649 devices to 76,601 with 6.9m total screen views. Usage was 94% Android and 6% iOS with 25 to 34 years being the most popular age group. E-statement was the most used function on the app and we were voted the 4th most popular app in Uganda on Google Play for the Finance category. One of the key growth areas for the app in the new financial year is to extend functionality and increase engagement with customers.
YouTube had one of the biggest leaps with a 620.7% growth in views, 1,054% growth in watch time and 147.2% growth in impressions respectively. This translates to 1,361,507 m views vs 188,909 views in the previous year and 79.8% of the total views on the channel since it was opened in December 2012.
While we saw a 46.9% and 48% growth in engagement year-on-year for Facebook and Twitter respectively, some conversations were negative. Without the challenges that came with midterm access, we should have closed the year with much higher engagement given the content which was published as well as a better sentiment score.
The Fund launched the Agency Banking collection product to tap into the existing banking agency network that operates close to 25,000 agencies across the country. This was done in partnership with commercial banks, including DFCU Bank, Agent Banking Company (ABC), and Housing Finance Bank. The Fund currently has 19 branches serving over two million customers and the Agency model service has, in addition to the existing e-services, created easy access to services for members.
NSSF customers can conveniently process transactions at the nearest bank agent operating flexible working hours.
Onboarding the two banks so far has enabled the Fund to extend services to a total of 650 agent points ready to serve NSSF members countrywide.
Our main objective for this programme is to reduce field (outreach) costs. The Fund now works with agents as opposed to setting up sub-branches/outreach centres. In addition, agents have the ability to directly register new members and thus increase the Fund’s membership.
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
This initiative provides access to free legal aid, especially for the disadvantaged. A number of lawyers engage through one-on-one sessions with participants on various legal issues, free of charge.
Access to justice is a fundamental human right recognised by the international community to promote rule of law at a national and international level. Despite the existence of elaborate and progressive legal and institutional frameworks in developing countries, including Uganda, access to justice still remains a dream especially to those with limited means. Hosting the Legal Aid open day helps us provide an open platform to create awareness on basic rights, providing on the spot counseling and identifying cases requiring alternative dispute resolution.
This year’s theme was 'Promoting legal aid accessibility and employees’ rights by bringing justice closer to the people”.
Several employers and employees are ignorant of the NSSF mandate and compliance requirements and through this theme, we will have an opportunity to elaborate on the NSSF Act provisions to both employers and employees.
Participants were empowered with knowledge on personalised legal advice on a number of issues ranging from land to employment related issues.
Impacting natural capital
The Fund is dedicated to providing a green management ideology to contribute to lives of humanity and the preservation of the environment by conducting our business activities in a way that respects people and nature. We choose methods of least impact to the environment when executing all our projects. Like all businesses, we are reliant on a range of natural resources to carry out our operations. We recognise that there are limits to these resources and for a sustainable business, we need to operate within those limits.
During the year, we prioritised the following:The Fund aims to achieve an annual saving of 15% on the water and energy bills.
Our target in paper reduction is 95%.
Our Key Environmental impacts last year include:
During the year, the Fund acquired a 5% reduction in the annual energy bills for both Workers House and Social Security House from UGX 1 Bn in 2020 to UGX 0.958 Billion in 2021. Total consumption of paper in our various offices reduced by 61.5% from 650 realms in 2019 to 250 realms in 2021.
During the year, the National Environment Management Authority (NEMA) conducted an Environmental impact assessment on all the Fund’s construction projects in compliance with Regulation 37 of the environmental assessment regulations, Statutory instrument No.13 of 1998. The audit revealed that the Fund was compliant in a number of areas as highlighted below:
The assessment helps the Fund to be aware of the impact of its activities, reduce risks and generate opportunities in conserving the environment, using technologies to assist in the prevention, mitigation or adjustment of negative impacts.
The Fund has a water and energy management policy, which is aligned to the international standard ISO 14001:04 that aims to ensure efficient use of resources and aiding in monitoring and controlling the use of resources impacting the environment.
During the year, the Fund controlled the identified potential environmental impacts of the projects in the following ways:
Loss of vegetation cover
Planted indigenous plant species to improve and compensate for the lost greenery
Generation of debris
Ensured appropriate PPE (helmets, gum boots, overalls and hand gloves) during demotion
Noise, dust and vibration from demolition and construction
Noise control devices such as noise barriers and deflectors were used
Soil erosion
Air quality concerns
Hazardous materials concerns
Trained truck drivers and mechanics on the correct transfer and handling of fuels and chemicals and the response to spills in cases of any breakdown of trucks on site.
Solid waste concerns
Improvising of labelled dust bins at convenient areas within the area for disposing of the solid waste and should be emptied regularly.
Waste water discharges
The Fund is committed to continual improvement in energy management performance through prevention of energy wastages. Electricity is the major source of energy supply to buildings owned by the Fund. This electrical power is supplied directly to the buildings by an UMEME distribution feeder. The feeder then distributes the power through three transformers. When the electrical supply to the building is cut-off, two diesel generators provide standby power.
The Fund undertook the following activities during the year to ensure energy savings:
During the year, the Fund acquired a 5% reduction in the annual energy bills for both Workers House and Social Security House from UGX 1 Bn in 2020 to UGX 0.958 Billion in 2021. Total consumption of paper in our various offices reduced by 61.5% from 650 realms in 2019 to 250 realms in 2021.
Water and waste handling, treatment, and disposal are conducted in accordance with regulations, as identified in Section 4.2, Global Environmental Health and Safety (GEHS), which help in water monitoring and management. Waste management at the Fund properties was in line with the Kampala Capital City statutory regulation 243. Management considers waste and sewage management as a key aspect to foster sanitation.
Our waste management process involves dealing with the waste generated from day to day-operational activities, food consumption, physical wear and tear of computer and office equipment, obsolete furniture and fixture and newspapers. Being a financial institution, the Fund does not deal with any hazardous waste.
Our waste is managed through the following ways:
The Fund implemented an Electronic Document & Records Management System (EDRM), aimed at having a central repository for all Fund`s Records and streamlined workflow processes. The automation has aided in enhancing access and sharing of information among Fund staff and promoting a clean desk policy within the Fund.
The Fund has enjoyed several tangible and intangible benefits below because of using system:
Financial Capital Contribution to the Economy
The Fund continues to make a vast contribution and impact on Uganda’s economic frontier. The Fund is the largest investor in Uganda’s bond and equity markets and has a large footprint in the real estate market. These investments, and the returns they generate, additionally contribute to Uganda’s fiscal revenue by way of various taxes paid, interest paid to members, salaries of our employees, and payment to suppliers of goods and services provided to the Fund.
Our value added statement shows the wealth created by the Fund and how it was distributed among the key stakeholders. The stakeholders include the members, government, and NSSF employees:
Year Ended 30 June 2021 | 2021 | 2020 | 2019 | 2018 | 2017 |
---|---|---|---|---|---|
UGX Billions | UGX Billions | UGX Billions | UGX Billions | UGX Billions | |
Investment Income | 1,675 | 1,472 | 1,254 | 1,041 | 845 |
Other Income (Loss) | (303) | (54) | (213) | 387 | 27 |
Net Increase in Value of Investments | 444 | 97 | (129) | 238 | 46 |
Less Expenses (Excluding staff costs & Depreciation) | (67) | (78) | (68) | (53) | (48) |
Wealth Created | 1,749 | 1,437 | 844 | 1,613 | 870 |
Distribution of wealth created to stakeholders (Amounts) | |||||
Members (Interest credited to accounts) | 1,516 | 1,154 | 978 | 1,100 | 681 |
Employee Salaries, Wages and Other benefits | 97 | 76 | 71 | 56 | 42 |
Government Direct Tax | 167 | 153 | 172 | 145 | 130 |
Retained Earnings for Future growth | (1) | (3) | (404) | 240 | 11 |
Distribution of wealth created to stakeholders (Percentage) | |||||
Members (Interest credited to accounts) | 85% | 84% | 120% | 71% | 78% |
Employee Salaries, Wages and Other benefits | 5% | 5% | 9% | 4% | 5% |
Government Direct Tax | 9% | 11% | 21% | 9% | 15% |
Retained Earnings for Future growth | 0% | 0% | -49% | 16% | 1% |