Every now and again, an organization needs a fresh new look. Sometimes it is for the sake of renewing customer loyalty. Other times it can be done as part of a marketing strategy. More often than not, re-branding is done for the sake of damage control.

In the corporate world, image plays a vital role in ensuring the continued success of any business. A bad impression can sully an organization's reputation forever.

New Look

Following recent scandals surrounding the country’s premier retirement benefits provider, National Social Security Fund (NSSF) has decided to reinvent itself by way of re-branding. Speaking during the official launch on Wednesday evening at the Kenya International Conference Center (KICC), NSSF Board of Trustees Acting Manager, Tom Odongo said, "We’ve learnt from our mistakes.  We ask Kenyans to give us a second chance.”

Odongo noted that the social security provider had a dark past. He recalled a time when the government used to terrorize Kenyans into contributing to the Fund. “We apologize to Kenyans for starting on the wrong foot,” he said, adding that the NSSF had since tried to develop a more democratic approach.

The company spearheaded its re-branding exercise with a new logo filled with green highlights, which NSSF says represents the need for growth. The organization also unveiled a new slogan: Growing You, for Good, as part of its new trademark. This comes after Chartis re-branded back to its original AIG.

[caption id="attachment_19899" align="aligncenter" width="608"] The NSSF rebranding Launch at the KICC (Image: Media Edge)[/caption]

Customer-Friendly Service Delivery

Speaking on behalf of the Board of Trustees, the Fund managers and the custodians among other major stakeholders, Odongo stressed on the importance of pension plans and their contributing policy-holders. He stated that the NSSF cannot exist without its contributors.

“The new NSSF we are unveiling today will be customer-friendly,” said Odongo moments before the company’s new logo was unveiled on a large screen in a flurry of sparks and confetti. “Going forward, we are making amends.”

NSSF Chairman Adan Mohammed added that the Fund’s rebranding would go hand in hand with the recently proposed transformation Bill. Also speaking on behalf of the Board of Trustees, Mohammed said “We are asking our national assembly to pass this bill. We are asking all Kenyans to support it.”

Independent Private Investors

NSSF has also appointed 6 independent Fund Managers from what the Board of Trustees terms as a competitive pool. They include the likes of Co-operative Trust, ICEA, Old Mutual, CFC Stanbic and Pinebridge.

According to Odongo, the re-brand will see all contributions to the scheme released to the Fund Managers. They will then decide how best to invest the money in order to ensure maximum returns. He also mentioned that the NSSF’s administrative expenses would only be sourced from their investment income.

The Funds current custodians include KCB Bank Group and Standard Chartered Bank. They will continue to manage the NSSF contributions on behalf of the stakeholders.

The Board of Trustees has assured Kenyans that, should anything go wrong, the Fund will still be able to pay its policy holders as well as retain a balance of 75%. The company plans to unveil a new ICT system aimed at ensuring quality services later this month. Odongo said that the NSSF had worked tirelessly documenting all its processes and procedures ahead of the new technology.

“An institution that has learned from its past will do better tomorrow,” Odongo added, noting that the Fund would be finalizing its ISO Certification later next week.

The service provider is set to hold what it terms a historical Annual General Meeting on the 17^th of September 2012 at the Moi International Sports Center in Nairobi. The AGM will the the first in 47 years and the 3rd in the firms 49 history, and will give stakeholders a chance to know exactly how their money is being invested.