NSSF Triumphs with Gold at 2024 FiRe Awards for Excellence in Financial Reporting

The National Social Security Fund (NSSF) has once again proven its commitment to transparency and high standards in financial reporting, winning the coveted Gold Award at the 2024 Financial Reporting (FiRe) Awards. This recognition, awarded by the Institute of Certified Public Accountants of Uganda (ICPAU), is a prestigious milestone, honoring NSSF’s consistent excellence in integrated reporting, sustainability practices, and corporate governance.

In addition to the Gold Award, NSSF also received top accolades for Best Sustainability Reporting, Parastatal of the Year, and a Certificate of Recognition for its outstanding achievements in Corporate Governance. This underscores NSSF’s leadership in financial reporting, marking the fifth time it has received the Gold Award—having previously won in 2018, 2020, 2021, and 2022.

NSSF’s 2024 integrated annual report, praised for its clarity and depth, reflects a thorough alignment of the Fund’s strategic vision with sustainable value creation.

According to the ICPAU citation, the report provided a well-rounded explanation of NSSF’s sustainability strategy, targets, and their alignment with value creation, showcasing a high level of integrated thinking throughout the organization.

“The integrated report offered an attractive and detailed explanation of its strategy, material matters, and sustainability goals,” the citation read in part.

The Chief Guest at the awards ceremony, Hon. Katumba Wamala, Minister of Works and Transport, congratulated NSSF for its outstanding achievement.

Representing NSSF at the event, Mr. Stevens Mwanje, the Fund’s Chief Financial Officer, expressed his gratitude to the organizers and commended the NSSF team for their dedication to producing high-quality reports year after year.

“As the Fund, this achievement is testimony of our ongoing dedication and commitment to transparency, accountability, and upholding best practices in financial reporting and corporate governance.” Mwanje said, adding that: “Our theme for this year’s report centres on creating shared value for sustainable growth, which is a key pillar that informs our initiatives, investments and corporate social responsibility efforts. Our goal is to drive shared prosperity for our members, the community, and society as a whole. So, we are pleased that this commitment was clearly reflected in our reporting.”

NSSF’s consistent excellence in financial reporting is evident in its five-time Gold Award wins, having previously won the Gold Award in 2018, 2020, 2021, and 2022, and a Silver Award in 2023.

The Fund has also consistently been recognised for its work on Environmental, Social, and Governance (ESG) reporting, an emerging and critical area in financial reporting.

According to ICPAU, NSSF’s 2024 Sustainability report stood out because of its integration to the annual report, and articulation of the control and procedures for monitoring and sustainability. The report, ICAU also highlighted, had a comprehensive discussion on its performance and risks as well as progress towards achieving set targets.