Kampala, Uganda 27th Sept, 2016 -The National Social Security Fund (NSSF), Uganda has won the prestigious Balanced Scorecard Institute’s 2016 Award for Excellence, an award that recognizes outstanding organizational performance in strategy management and execution as a result of commitment to strategic planning, strong leadership, and performance measurement.
NSSF Managing Director Richard Byarugaba said that with this award, the Fund is firm on its journey to becoming a benchmark for the social security industry both in and outside the East Africa region.
“This is further affirmation, by an independent internationally renowned institute, of the turnaround and transformation the Fund has undergone over the last six years. We are also the first organization in Uganda to win this award out of many that are using the Balanced Scorecard,” Byarugaba said.
“Well done to all of staff for the support provided in implementing the Balanced Score Card for performance management. This is a demonstration that when we apply ourselves to do the right thing, we shall be recognized. This is just the start; more awards will come if we continue to do the right thing,” he added.
The Award for Excellence is conferred to organizations that demonstrate breakthrough results based on performance management excellence criteria, including executive leadership, strategy development and communication clarity, according to Juliette Bastian, Senior Associate at the Balanced Scorecard Institute.
“The Award for Excellence Selection Committee found that NSSF Uganda has demonstrated significant results using the balanced scorecard approach,” Ms. Bastian said.
She also said that the institute will promote the Fund’s usage of the BSC in a case study, use excerpts in exercises and training materials.
The Fund has also been added to a repertoire of case studies using the Award for Excellence organization examples of how they achieved results and moved through the Nine Steps to Success™ balanced scorecard framework.
The Fund adopted use of the Balanced Scorecard in 2011, becoming one of the first corporate organisations in Uganda to do so.
Since then, the Fund has undergone a turnaround and transformation, from about Ugx 1.7 trillion in assets to over Ugx 6.5 trillion as at May 30, 2016.
It has also grown to be the largest financial institution in Uganda and the largest Pension Fund in East Africa by value.
Over the last 5 years, the Fund has won several awards, including the prestigious Africa Pension Fund Initiative of the Year 2005, East Africa Super Brands 2014 award for excellence in branding, International Social Security Association (ISSA) Good Practice Award, and the Uganda Communications Commission ACIA 2013 Business Excellence Award.
Other awards include the Environmental Sustainability Award for Lubowa Housing Estate master plan, Digital Impact Awards Africa award for e-service channels and several Financial Reporting accolades.
