THE National Pensions Scheme Authority (NAPSA) has signed an agreement with the National Road Fund Agency (NRFA) to finance the ongoing road works on the Ndola-Solwezi road to a tune of K2.1 million.
NAPSA director of projects Phillip Muyumbana said in an interview at the on-going Zambia International Trade Fair (ZITF) in Ndola that the pension authority will finance the works on the Ndola-Kitwe dual carriage way, Kitwe-Chingola dual carriage way and the Chingola-Solwezi road.
“The National Road Fund Agency had approached us for possible financing of the road works on the Ndola-Solwezi road. We have signed the agreement and we shall finance this road project,” Mr Muyumbana said.
He said NAPSA will finance all the road works including the mounting of toll gates on the respective roads.
Mr Muyumbana said NRFA will repay the K2.1 million through the resources that will be collected from toll fees on the respective roads.
He said NAPSA’s decision to finance the road projects demonstrates the importance it attaches to issues of economic development.
Mr Muyumbana said its decision to finance the road project is another way of broadening its source of contributions as people that will be working on the road projects and in the toll gates will be contributing to the pension scheme.
And Mr Muyumbana said the works on the Edgar Chagwa Lungu Mall in Kitwe are progressing well and have reached an advanced stage.
He said the works are at 25 percent and that the project has contributed greatly to employment creation.
Mr Muyumbana said NAPSA also has plans to build a multi-purpose shopping mall in Petauke in Eastern Province that will help to boost economic activities in the town.
“We are not focusing only on the big towns but also on the small ones when it comes to the construction of shopping malls,” he said.