Reporting Frameworks
Our integrated report is guided by various codes and standards as follows:
Strengthening alignment to the International <IR> Framework
During the year, training was provided to the Board, Exco and senior staff on the guiding principles and content elements of the International <IR> Framework.
This allowed our leadership teams to reflect on:
Enhancements
Enhancements to the FY 2020 integrated report
Formalisation
The formalisation of a combined assurance model
Strategic Trade-offs
Strategic trade-offs between capitals and how we balance risk and return for long term value creation
Our approach to value creation, preservation and erosion
Our financial, human, manufactured, intellectual, social and relationship and natural capitals facilitate every aspect of our business and our ability to create long term value.
We have accordingly defined our structure, activities and performance against our strategy in this report in terms of these six capitals. Value creation, preservation and erosion are the consequences of how we apply and leverage our capitals as part of our strategy execution and are evident in how these capitals change over time.
Our value creation process is illustrated in our business model.
Integrated Thinking
Integrated thinking helps us to expand the boundaries of our mindset, seeing ourselves as part of a larger system and taking into account the wider impact of our decisions, beyond short term financial rewards.
The Fund embraces integrated thinking and with the enduring effects of the Covid-19 pandemic, it is through our strong stakeholder relations, robust risk mitigation processes, strong governance, how we care for our people and stakeholders, ongoing effective, transparent communication and embracing opportunities for digital innovation, that has ensured our business has remained resilient.
Integrated Report recognition
We take great pride in demonstrating the value we are creating for all our stakeholders and are proud of our achievements and recognition received for our inaugural 2020 integrated report.
NSSF won the top award at the 10th Financial Reporting (FiRe) Awards. The annual awards organised by the Institute of the Certified Public Accountants of Uganda (ICPAU) saw the NSSF win the overall gold award for Integrated Financial Reporting of the year.
'This organisation provided the most exemplary integrated annual report with clear commitment to the highest standards of financial and business reporting'.
by EvaluatorsThe Fund also won the Regional Category in the Corporate Governance Institute of South Africa (CGISA) awards. This being the first time we entered the CGISA awards and being announced as the category winner, is testament that these results reflect the focus and commitment that the Board and management dedicate to corporate governance in upholding the core fundamental principles: accountability, fairness, transparency and social responsibility in the way we conduct business.
'A brilliant report that captures the essence of integrated reporting and that provides adequate transparency and disclosure'.
by EvaluatorsNSSF received an award from the Southern Africa Development Institute (SADI) for training on integrated reporting, the start of the journey for the Fund.
