Skip to main content
National Social Security Fund Integrated Report 2026
06 Our Performance 01 CFO’s Financial Review
1 / 47

Our Performance

Introduction

See how the Fund delivered strong financial and operational performance, grew and protected members’ savings, and positioned itself for sustainable long-term value creation.

Our performance

01

CFO financial review

We remain focused on transparency, efficiency and creating lasting value for our members.

Finance professional working at his desk
Stevens Mwanje, Chief Financial Officer

Chief Financial Officer

Mr. Stevens Mwanje

“I am pleased to report another year of strong financial performance. Despite the easing but still elevated global uncertainty, the Fund grew its asset base to 32.87Tn, delivered real returns for members above the ten-year average inflation threshold, and maintained administration costs within our long-standing sub-1% discipline. This review reflects on our performance, the factors that shaped it, and the contribution we are making towards the inclusive sustainable wellbeing of our members. In this spirit, the Finance Department has continued to evolve beyond traditional stewardship into a future-ready business partner, enabling innovation, operational excellence and stronger overtures into ESG and sustainability ”
Up next Introduction to Our Performance

Introduction to our performance

The Finance Function is at the forefront of driving sustainable growth, empowering generations, and supporting the Fund’s Vision 2035 ambitions. This transformation is enabled by modern technology, diverse skills and capabilities, and embedded business advisory support across the operating and investment functions. These capabilities strengthen decision-making, efficiency, and the Fund’s ability to deliver its strategy.

We remain focused on transparency, efficiency and creating lasting value for our members. For the year ended 30 June 2026, this commitment guided how we managed and created value across the Fund. Each contribution entrusted to us represents a dream, a family, and a livelihood. Our role is to transform that trust into value, and lasting wellbeing.

Finance team gathered for a presentation
Up nextDelivering towards inclusive sustainable wellbeing

Key milestones and achievements

Delivering towards inclusive sustainable wellbeing

Driving automation and efficiency

Finance continued to modernise processes and embrace digital transformation to improve turnaround times strengthen accuracy and controls, and advance a more efficient, paperless environment. Key milestones included:

01

Value Proposition Budgeting (VPB)

In January 2026, the Fund implemented Value Proposition Budgeting as part of its performance management transformation agenda. The approach strengthens the alignment of resource allocation with strategic priorities, enhances accountability, and improves the effectiveness of budget utilisation across the organisation.

02

Yo-Wallet

In November 2025, the Fund launched Yo-Wallet, an internally developed cashless petty cash management platform. The solution replaced an off-the-shelf solution. It enabled us to strengthen accountability and internal controls, reduced operational risk, and improved the efficiency of petty-cash reconciliations.

03

Oracle Enterprise Resource Planning (ERP) System

The Fund commenced implementation of the Oracle ERP System during FY2025/26, marking a significant step in Finance’s transformation. The new system will replace the legacy JDE platform after more than 20 years and provide an integrated, automated, and real-time financial management solution, enhancing efficiency, data accuracy, reporting, and decision-making.

04

Automation and Innovation in Finance Scorecards

During the year, Finance embedded automation and innovation objectives into team scorecards to drive continuous improvement and strengthen service delivery. This has supported measurable gains in productivity, process efficiency, accuracy, and stakeholder value across key finance processes.

05

Tax Stakeholder Engagement and Management

Externally, the Fund engaged with the Uganda Revenue Authority on matters related to tax clarifications, reviews, audits, tax refunds, among other compliance issues. The outcomes from these engagements helped to strengthen our tax controls and compliance practices. Additionally, we engaged independent external tax consultants to conduct Tax Health Checks, providing an objective third-party assessment of the Fund's tax compliance position while identifying areas for improvement.

Up next Reporting excellence and external recognition

NSSF staff led by the Chief Financial Officer Stevens Mwanje (centre-right) receive the Governance Reporting Award at the 2025 FiRe Awards in Kampala.

Reporting excellence and external recognition

Our commitment to transparent, accountable, and high-quality reporting earned recognition at national and continental levels during the year.

At the 15th Financial Reporting (FiRe) Awards, hosted by the Institute of Certified Public Accountants of Uganda (ICPAU) in partnership with the Capital Markets Authority (CMA) and the Uganda Securities Exchange (USE), NSSF Uganda was recognised in three categories. The Fund was named Overall Winner in both the Corporate Governance Reporting and Parastatals categories and received the Silver Award for Integrated Report of the Year.

NSSF Uganda's Finance Team also received the Bronze Award for Finance Team of the Year at the Ghana CFO and Public Finance Awards, organised by InstinctWave Ghana. The award recognises the team's contribution to financial excellence, innovation, and sound stewardship, as well as its role in supporting the Fund’s transformation and sustainable national development.

At continental level, NSSF Uganda received the African Regional Award at the Chartered Governance Institute of Southern Africa (CGISA) Annual Integrated Reporting Awards, held in partnership with the Johannesburg Stock Exchange (JSE). This marked the fifth time the Fund has won this recognition, reinforcing its consistent commitment to high-quality reporting, transparency, and stakeholder accountability.

NSSF Sustainability Report cover

ESG progress

The Fund continued to strengthen its ESG agenda, embedding sustainability more firmly into governance, strategy, decision-making, risk management, and investment stewardship.A significant milestone was the Board’s approval of the ESG Policy, establishing a formal framework for integrating ESG considerations across the Fund’s governance structures, operations, risk management, and investment activities.

The Fund also established a dedicated ESG function and appointed an ESG Specialist, strengthening its internal capacity to coordinate, implement and report on its ESG priorities. Building on the previous year’s progress, the Fund continued aligning its sustainability-related processes and disclosures with IFRS S1, General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2, Climate-related Disclosures.

As reporting expectations evolve, we will continue to strengthen our sustainability and ESG disclosures and build on the recognition achieved through our reporting journey.

Up nextThe future of the Finance function

NSSF Integrated Report 2026

Ways to navigate

Choose how you would like to explore the digital publication.

Viewing on a laptop

For the best experience on a laptop, view the report in full screen.

In Chrome, open the three-dot menu at the top right, then select the full-screen icon beside Zoom.

To exit, move your pointer to the top of the screen and select the exit full-screen button.

Move through the report in the way that works best for you.

Contents Overview

Quick access

NSSF Integrated Report 2026

Search the Report

Start typing to search the Integrated Report.

Downloads

Download the full report, complete chapters or selected report sections.

01

Report Overview

02

Our Business

03

Our Strategy

04

Our Governance

05

Our Sustainability

06

Our Performance

No sections selected

Share This Page