Focus on job creation, NSSA told

Funny Hudzerema Business Reporter
GOVERNMENT says the National Social Security Authority’s new investment policy should focus on the creation of jobs rather than concentrate on the capital markets.

Public Service Labour and Social Welfare Minister Prisca Mupfumira told the new NSSA board which she announced on Friday last week, that the authority’s new investment policy should focus on development issues, infrastructure projects rather than money market investments. The board is chaired by chartered accountant and investment banker Mr Robin Vela.

“There is need to align NSSA’s investment policy with the economic blueprint, Zim-Asset.

“You are coming into NSSA after the organisation has run for quite some time without a board, the tenure of the previous board expired in August 2013. The current economic environment will call on you to review the NSSA investment policy so that it is aligned to the expectations of the blue print in terms of deliverables,” she said.

She added that it is critical for NSSA’s investment policy to address issues relating to infrastructure development, agricultural, production, processing and marketing, Small and Medium Enterprises and housing, especially low income earners.

Mr Vela will be deputised by Zimpaper’s corporate legal services manager Mrs Daphne Tomana while Mr Hashmon Matemera completes Government representatives on the board.

Employers’ representatives on the board include Mr Sijabuliso Biyam, Ms Nester Mukwewa, Mr Eria Phiri while the three workers’ representative include Mr Jemima Mateko, Mr Richard Gundane and one worker still to be nominated.

The ministry will be represented on the board by Mrs Memory Mukondomi.

“We want the investment policy to focus on issues around job creation, shortages of accommodation being experienced by civil servants.

“This will be done by providing cheap basic high density housing schemes for the lowly paid who form the bulk of its members,” she said.

She added that the board must focus on building the foundation that was laid before and come up with new ideas of upgrading NSSA.

Meanwhile, Minister Mupfumira said there are plans to add one or more schemes such as the maternity benefits scheme and the national health scheme.

NSSA currently administers two schemes, the Workers Compensation Insurance Fund (WCIF) and the National Pensioners and Other Benefits Scheme (NPS).

“During your tenure as a board, you have to ensure that such objectives on wider social security coverage are achieved.

“With the recent increases in medical aid contributions by some companies there is a need to speed up the process of coming up with such schemes as National Health Insurance scheme and the maternity schemes,” she said.

Minister Mupfumira said Government is also interested in the boards of companies and institutions where NSSA is a shareholder.

She said the non-executive directors who represent NSSA’s interest in those institutions should participate effectively and add value.