The National Social Security Fund (NSSF) has received regional and local recognitions for its 2022 integrated annual report. NSSF emerged overall winner in the category of Regional Company (from the rest of Africa) in the Chartered Governance Institute of Southern Africa (CGISA) Integrated Reporting Awards in South Africa.
The CGISA Integrated Reporting Awards are co-hosted by the Johannesburg Stock Exchange (JSE) Limited and are aimed at encouraging solid financial and non-financial reporting and full disclosure of information to all stakeholders of the Southern African business fraternity and other stakeholders.
The awards allow organisations to be measured against their peers and offer the opportunity to develop and instil sound reporting practice through valuable feedback from a panel of judges comprised of financial experts and specialists.
Speaking at the awarding ceremony, Ranisha Dwarika partner at PwC said that global and local reporting trends depicted a move towards both increased corporate social responsibility as well as corporate accountability. These, she stressed, were key elements in maintaining and enhancing the reporting standards and requirements necessary for effective, meaningful indices for reporting.
According to Steven Sadie, the CEO of CGISA, the winning companies reflected integrated reports that balanced between disclosure, transparency, and accountability on one hand whilst maintaining a positive social impact on the other.
Locally, NSSF won five accolades in the Financial Reporting (FiRe) awards held at Hotel Africana recently. It scooped the gold award - Integrated report of the year, Overall winner in the Public sector category and took the first runner-up award for the Communication, Sustainability and Corporate Governance categories.
FiRe awards aim at enhancing the quality of financial and business reporting in Uganda by encouraging the implementation of financial reporting standards and other best practices in reporting
According to the FiRe awards judges, the Fund presented an outstanding integrated report and demonstrated a high level of adherence to the guiding principles and content elements of the Integrated Reporting (IR) framework. The organization provided a clear and detailed explanation of its value-creation process highlighting the key inputs, business activities, outputs, and outcomes. The report layout, summaries, and highlights provided useful context for the detailed information presented in the report.”
Patrick Ayota, NSSF deputy managing director said, “We are delighted by these recognitions because they show our hard work and our commitment to transparency and accountability. We will continue to tell a balanced story to our members and stakeholders through such platforms for better understanding of the Fund’s ability to create value in the short, medium and long term.”