NSSF Sweeps Four Awards at the 2023 Financial Reporting Awards

Thomas Tayebwa, Deputy Speaker of Parliament (c ) hands over the Silver award for excellence in Financial reporting to Stevens Mwanje, NSSF Chief Financial Officer (middle) and NSSF staff at the Financial Reporting awards held at Serena Hotel

Kampala, Uganda HABARI DAILY I The National Social Security Fund (NSSF) has once again demonstrated its commitment to excellence by clinching four prestigious awards at the 12th edition of the Financial Reporting awards (FiRe). 

The event, organized by the Institute of Certified Public Accountants of Uganda (ICPAU), celebrated the best in financial reporting under the theme “ESG: Reporting as Brand Storytelling.”

Out of over 100 companies that submitted entries, NSSF emerged victorious, securing the coveted Silver award, best Sustainability report, Presentation and Communication award, and best report in the Public Sector category. Additionally, the Fund received a certificate of recognition under the Corporate Governance category.

The FiRe Awards judging panel commended NSSF for its integrated report, citing its clear emphasis on value creation and strategy. The report effectively conveyed the entity’s purpose and approach to sustainability, providing links to additional sustainability and Environmental, Social, and Governance (ESG) information.

Under the Presentation and Communication award, NSSF’s integrated report was recognized for its engaging content, utilizing multiple readership enhancement techniques. The report demonstrated innovation and creativity in portraying the organization’s achievements, capturing the attention of readers.

NSSF’s commitment to sustainability was highlighted in the Sustainability award, with the organization disclosing plans to develop a comprehensive ESG reporting strategy aligned with its vision, mission, and goals. 

The holistic picture provided in the report showcased the interconnectedness and dependencies between factors affecting the organization’s ability to create value over time.

Patrick Ayota, Managing Director of NSSF, attributed the Fund’s success to its dedication to transparency and accountability. Ayota stated, “Our continuous recognition in the leading local financial reporting awards is an affirmation that our disclosures are fairly and appropriately represented in accordance with international reporting standards.”

NSSF has a history of success at the FiRe awards, having previously secured Gold for three consecutive years from 2020 to 2022. The Fund’s commitment to good corporate governance and communication excellence has earned it recognition in various categories over the years.

The Financial Reporting awards play a vital role in promoting financial reporting excellence in Uganda. This year’s theme, “ESG: Reporting as Brand Storytelling,” reflects the growing importance of Environmental, Social, and Governance factors in corporate reporting.

The winning NSSF 2023 Integrated report can be accessed on the Fund’s official website. As the largest Fund in East Africa by value, managing assets worth over sh18.9 trillion, NSSF remains committed to its goal of growing Assets Under Management to 20 trillion by 2025. 

The Fund is regulated by the Uganda Retirement Benefits Regulatory Authority, with policy oversight from the Minister of Gender, Labour and Social Development, and the Minister of Finance, Planning and Economic Development.

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