THE National Pensions Scheme Authority (Napsa) has invested K3.2 trillion in various investments and projects in the current financial year as of May 31, 2010. The investment portfolio in treasury bills stands at K396 billion, representing 12 per cent while the term deposits are at 34 per cent, amounting to K1 billion.
Napsa public affairs manager, Judith Dasilva said the authority had so far put in K286 billion in the Levy Business Park and K91 billion in Kalulushi housing project, representing three per cent of the total investment.
Ms Dasilva said Napsa was aiming at developing and diversifying its investment portfolios to remain sustainable. Speaking at the just-ended 84th Zambia Agriculture and Commercial Show in Lusaka, Ms Dasilva said the construction works at the Levy Business Park were on course and would cost about US$200 million under phase one.
Ms Dasilva said in seeking investment that produced high capital returns, together with sustainable long-term growth, the institution had invested in high-profile development that would be completed by August 2011.
“We have embarked on real estate developments such as the Levy Business Park and Kalulushi Housing Project, as well as Napsa housing project undertaken by the National Housing Authority (NHA),” she said.
The final product at the Levy Business Park will include a double volume shopping mall that will bring high-profile international and local tenants, offering a wide range of products and services, including entertainment, leisure and movies.
Ms Dasilva said the Kalulushi Housing Project construction works had started and the site was handed over to the contractor early this year. “The project is scheduled to be completed in 2012 and it comprises 438 mixed profile housing units and contractors are currently on site,” she said.
The Kalulushi project will attract about 500 jobs during the construction stage. Ms Dasilva said the pension scheme authority’s portfolios stood at K316 billion as of May 31, 2010.
The authority has mainly invested in securities, equities of various companies in Zambia and real estates.
[Times of Zambia]
This what this country needs and it should be encouraged. What role is Zambia National Building Society playing in empowering citizens with houses? Govt has taken too long to realign ZNBS’ operations to bring it in line with national vision on housing. Kudos to NAPSA and please help develop other cities and towns in Zambia, not just Lusaka.
Do contributors get the portion on their money invested?? It is still difficult to access the fund after retirement. When I was working in Zed, it was impossible to get an updated contribution statement. I think private pension schemes are better than this NAPSA.
#2 I wnt adress you by name. Yes now you can easily get an update of contributions made now and acess to your money is much faster.
To answer your first question NAPSA invests contributions in ventures like these and get a return. Part of the returns they get are added to your pension at the end of the day
This is awesome! This is what we want to hear about.
Congrats to the management of NAPSA!
no.2 am sure you were here 10years ago,this time you can even download your statement on the NAPSA website,
This is great news, can someone provide me with NAPSA’s contact details and their site address, I need to enquire about my late mother’s pension.
Great effort and a way forward – badly needed for Zambia. I kindly donate my pension the few years I worked for… I am sure it would be nothing now
#3 Well said in your response – hats off to all of you working there.