- Member contributions received: UGX 2.42Tn
(June 2025: UGX 2.13Tn) - Member Fund: UGX 31.85Tn
(June 2025: UGX 25.55Tn) - Cash balance: UGX 204.9Bn
(June 2025: UGX 105.9Bn)
Our business model
Legend
Value creation
Value erosion
Value preservation
Key inputs
Key outcomes
Trade-offs
Key inputs
Key outcomes
- Cost-to-income ratio of 7.7%
(June 2025: 7.9%) - Cost-of-administration ratio of 0.84%
(June 2025: 0.89%) - Interest to members (return on equity): 22.53%
(June 2025: 13.5%) - Benefits paid: UGX 1.55Tn
(June 2025: UGX 1.32Tn) - Benefits turnaround time of 4.5 days
(June 2025: 5.6 days) - Employer compliance of 56%
(June 2025: 52%)
Trade-offs
- Increasing investment in East Africa
- Increasing investment in fixed deposits while reducing investment in treasury bonds
- Building more affordable houses for our stakeholders
Key inputs
- A deliberately shaped, customer-centric culture
- A strong brand that resonates with consumers
- Brand costs (advertising and promotion): UGX 8.0Bn
(June 2025: UGX 7.0Bn) - Enterprise Architecture upgrades and digital platforms; benefit payment workflows; AI-enabled member service (chatbot)
Key outcomes
- Customer satisfaction rate of 89%
(June 2025: 88%) - Tonality score of 94.2%
(June 2025: 95.0%) - Retention of specialist skills (data science specialists, software developers, and CFAs)
- Chatbot handling member queries on WhatsApp increasing the e-channel-to-walk-in ratio to 98:2
(June 2025: 96:4) - Benefit payment workflows reducing the turnaround time to pay out benefits
- Brand equity and engagement strengthened; data and analytics capability maturing
- Reporting capability aligned to Integrated Reporting <IR>, GRI, TCFD and IFRS S1/S2
Trade-offs
- Digital convenience versus inclusion: assisted channels are retained for vulnerable members as digital becomes the default
Key inputs
- 669 skilled, customer-centric employees
(June 2025: 614) - An experienced and ethical leadership team
- Staff satisfaction and engagement survey
- Investment in learning and development (staff training): UGX 2.8Bn
(June 2025: UGX 2.4Bn) - Salaries and benefits paid (staff costs less mortgage benefit): UGX 130.8Bn
(June 2025: UGX 120.7Bn) - Spending on employee wellness initiatives: UGX 3.7Bn
(June 2025: UGX 3.4Bn) - Employment equity initiatives
Key outcomes
- Employee satisfaction of 93%
(June 2025: 91%) - Employee attrition of 2.2%
(June 2025: 4%) - Gender equity of 52.6% Male and 47.4% Female
(June 2025: 53.1% Male and 46.9% Female) - Percentage salary increases for lower-graded staff equal to that of management for the same performance rating
- Maintained employee motivation, skills, and diversity
Trade-offs
- Tight budgets versus capability: protecting learning and wellness spend sustains performance and service quality
- Service speed versus control: faster turnaround requires tighter second-line checks to avoid rework
- Digital investment versus near-term operating cost: heavier IT spend reduces unit costs over time but lifts current spend
- Paperless drive versus legacy habits: paper use decreased by 41.6%; the fix is process discipline and ADA usage
Key inputs
- Digital channels and innovation spend: UGX 850Mn
(June 2025: UGX 2.5Bn) - Infrastructure spend, branches and contact centres (IT maintenance and repairs): UGX 11.4Bn
(June 2025: UGX 13.6Bn) - Investment in Enterprise Architecture (additions to computers and intangibles): UGX 3.6Bn
(June 2025: 9.7Bn)
Key outcomes
- 98% of member transactions and interactions hosted digitally
(June 2025: 96%) - 3.65 million customers
(June 2025: 3.35 million) - Pay-out of benefits in 4.5 days
(June 2025: 5.6 days) - Employees working effectively from home: 100%
- Uptime of application systems at 97.7%
(June 2025: 98.2%) - Digital Index of 72.1%
(June 2025: 85.9%)
Trade-offs
- Digital first versus physical presence: branch spend is retained to protect inclusion for non-digital members while most services migrate online
Key inputs
- A focus on responsible procurement and supplier development
- Structured stakeholder engagement
- Focused and committed corporate social investment
- Prioritised commitment to identified SDGs and responsible ESG practices
- Investment in financial literacy campaigns: UGX 280Mn
- Proactive employer compliance campaigns
Key outcomes
- Taxes paid, direct and indirect: UGX 313.9Bn
(June 2025: 242.4Bn) - Local supplier contracts awarded: UGX 106.3Bn
(June 2025: UGX 25.6Bn) - 1,079 contracted suppliers
(June 2025: 658) - UGX 89Bn in contribution arrears recovered
(Target UGX 30Bn) - Buy Uganda Build Uganda: 96.9% of procurement with local suppliers
(June 2025: 97.1%) - New membership growth of 8.5%
(June 2025: 9.0%) - 71% of logged complaints resolved at the first attempt
(June 2025: 93%) - Lowered the minimum contribution for Smartlife Flexi from UGX 5,000 to UGX 500
Trade-offs
- Local sourcing versus unit cost: prioritising local suppliers may raise near-term costs but strengthens the ecosystem
- ESG criteria versus supplier pool: higher standards may shrink options short term but reduce risk long term
- Process rigour versus speed: e-GP improves traceability; early market engagement manages lead times
Key inputs
- Energy efficiency and management
- Water conservation and waste management
- A meaningful contribution to environmental sustainability, aligned to national, regional, and global development goals
- ESG Partner onboarded
Key outcomes
- 8% reduction in energy consumption
(June 2025: 38.6% increase) - 41.6% decrease in paper consumption
(June 2025: 116% increase) - 3% decrease in water consumption
(June 2025: 48.4% increase) - 100% of waste from buildings diverted to KCCA pipelines, in line with the City Council Solid Waste Management Ordinance of 2000
- Green certificates awarded for Pension Towers and the Lubowa housing project
Trade-offs
- No material trade-off identified for this capital
... and ensures our ability to create value in the future.