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get the National Social Security Authority to invest in a struggling local bank.
She says all NSSA funds should benefit workers directly.
Her view contradicts that of Finance Minister Tendai Biti who wants NSSA to invest in Renaissance Merchant Bank.
In an interview last Friday, Minister Mpa-riwa insisted that any meaningful investment should be “workers oriented.”
She however, said the NSSA board was autonomous and had representatives from the Government, workers and business.
She said she would not interfere with the board’s operations.
“Whatever arrangement the board comes up with, it should benefit the workers directly. The NSSA board is a tripartite arrangement where we have business, workers and Government representation. Any meaningful investment should be done with full consultation of the tripartite,” she said.
Minister Mpariwa said her role was to appoi-nt the board and to give it the authority to perform their duties.
“My role is just to appoint the board and allow them to execute their duties without my interference. I can only come in if they need directions on some issues.
“I will have to wait for the board to meet and discuss the issue before I say more,” she said.
In an interview last week, Zimbabwe Congress of Trade Unions acting secretary-general Mr Japhet Moyo said his organisation was waiting for their representative on the NSSA board to advise them on the social security scheme’s position on Renaissance Merchant Bank.
“We are waiting for our member who sits on the NSSA board, Mr Alphios Makiwa, to give us details on how the decision will be arrived at.
“As workers, we want him to tell us if there was any outside influence; then we will take it from there,” Mr Moyo said.
NSSA has said it has engaged an audit firm to evaluate whether investing in Renaissance makes sound business sense.
NSSA general manager, Mr James Matiza, said it had been deemed prudent to engage the services of a reputable auditing firm to exami-ne the financial institution’s current situation and future prospects.
“The findings of the auditing firm will then be presented to NSSA’s board of directors, which has the final say on NSSA investments.
“The board will then make a decision on whe-ther or not to invest in Renaissance, based on the report from the auditing firm,” said Mr Matiza.
Minister Biti last week came under fire from workers’ representative organisations for advi-sing NSSA to invest US$20 million in Renaissance Bank to bail it out.
Mr Patterson Timba was chief executive of the troubled bank which received a US$5 million loan from businessman Mr Jayesh Shah for recapitalisation, but failed to repay it in time.
ZCTU’s Mr Moyo said the NSSA money earmarked for Renaissance should be directed to projects that benefit workers directly.
“If NSSA invests in a bank, workers are not going to benefit directly. They should at least invest in housing because most workers face accommodation problems.
“The money contributed to NSSA is for wor-kers and thus it should benefit them directly,” he said.
Zimbabwe Federation of Trade Unions president Mr Jacob Gwavava echoed the same sentiments.
“He (Minister Biti) says he cannot increase civil servants’ salaries because of liquidity constraints, yet he can direct NSSA to put money on things that are not going to benefit workers directly.
“NSSA money is for workers. It should be used in areas where workers will benefit dire-ctly, for instance, building houses for wor-kers,” Mr Gwavava said.
Online Reporter