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Business Reporter
The National Social Security Authority (NSSA) livestock project for pensioners is now in the pilot phase and will target the export market, in a move aimed at economically empowering pensioners.
The project is also part of the authority’s contribution towards the agriculture sector, which is expected to register massive growth and drive the country’s economic out-turn in 2023 and going forward.
This also comes at a time when pensioners are among those worst affected by the negative impact of Covid-19, which directly impacted pension funds and reduced their overall investments across asset classes, according to the International Finance Corporation.
Under the NSSA project, the authority will breed goats at the project’s main centre in Kwekwe.
Here, the authority targets to have about 10 000 goats and establish an abattoir. At least 2 000 goats have already been secured.
Pensioners will participate in this project through an out-grower scheme, where they will be able to sell their goats to the pensions authority for sale on both the local and export markets.
Acting general manager Dr Charles Shava said the goat project aims to enhance the livelihoods of pensioners by complementing pay-outs they receive from the Authority.
So far some pensioners in Bindura and Gwanda have been identified for the project, which is now under pilot phase.
“As an authority, we also want to empower pensioners economically through income-generating projects. This is also part of our contribution towards the agriculture sector.
“We are hoping to secure export markets too,” Shava told journalists at the launch of the Insurance and Pensions Journalists Mentorship Programme 2023.
Two years ago, NSSA launched a US$2 million revolving fund towards the eradication of poverty among pensioners and other beneficiaries of the compulsory pension fund.
The goat scheme is one of the initiatives being undertaken by the Authority to support pensioners, at a time inflationary pressures and exchange rate volatility are eroding their incomes.
Global shocks have also added to the challenges the country faces.
Dr Shava admitted these economic challenges were affecting not only businesses but weighed on pensioners who rely on payouts.
“The current inflationary environment has eroded the purchasing power of people’s incomes. Pensioners have not been spared from this negative phenomenon.
“The disturbances in Russia and Ukraine contributed to the increases in prices of commodities in the Country. This has the potential to put pensioners into poverty and vulnerability,” said Dr Shava.
The Authority has however been holding stakeholder engagements which have resulted in periodic reviews of pay-outs.
As at February 2023, the POBS minimum retirement pension was pegged at $41 496.
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