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Alba Iulia
Monday, November 22, 2021

Labour Minister urges NAPSA to do more in publicizing the various projects the institution has invested in

Headlines Labour Minister urges NAPSA to do more in publicizing the various...

Labour and Social Security Minister Brenda Tambatamba has urged the National Pension Scheme Authority (NAPSA) to do more in publicizing the various projects the institution has invested in.

Speaking after touring River View Park in Lusaka today, Ms Tambatamba says there is a lot of uninformed debate on issues pertaining to NAPSA’s investments which can be dispelled by members having knowledge of what their contributions go towards.

She said once the project is complete, it will contribute to the Growth Domestic Products (GDP) of the country.

The Minister commended NAPSA for investing in investment project facilities such as Riverview Park.

The Labour and Social Security Minister said the institution’s investments will outlive current generations.

“It is important for the fund to be invested in things that will last for long that will continue accruing value beyond the times of the project life. When you look at this investment, I can imagine 70 or 100 years from now, it will be here. Even if NAPSA will sell, I believe there will be more value that will be accrued in terms of employment or whatever else will accrue from this investment,” Ms Tambatamba said.

And NAPSA Director General Yollard Kachinda disclosed that the project is worth 597 million kwacha.

Mr Kachinda said the money will be recovered from the same sale of the serviced plots to members of the public.

He said prices have already been determined and that marketing and selling of the plots will soon be underway.

“This project is ready to start selling and bringing in returns once it is officially flagged off and the public is eagerly waiting for that moment,” he said.

Meanwhile, during a presentation, Project Manager Afritec, Director Shaun Davy disclosed that the project is over half-way complete.

Mr Davy also revealed that the project will have 3,300 plots with an estimated number of 20 thousand occupants.

He further said the project will consist of 50 thousand square meters worth of a commercial office.

Mr Davy added that the 18 kilometer road network on the project is being done by the Zambia National Service (ZNS), who have also subcontracted AVIC International for part of the work.

River View Park is an upcoming sustainable urban development providing a rich and diverse range of residential, commercial and work opportunities

6 COMMENTS

  1. NAPSA is the most untrustworthy and corrupt pension organization ever to operate on the face of the earth. I have 123 workers on my farm and ZERO of these workers want to LOSE any money to NAPSA so that’s why they’re all on piece work and paid per week. Bally, time to sack the NAPSA board!

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  2. Instead of napsa JUST INVESTING IN LAND AND BULDINGS which are now on a negative return you should FORCE THEM to invest in Agriculture etc that has a better return for the pensioners. NAPSA IS A SCAM AND PAY AN INSULTING AMOUNT TO PENSIONERS. Minister can you take this up and sort it out please.

    SACK THE BOARD, CHANGE THE INVESTMENT CRITERIA, DIVERSIFY, EMPLOY YOUTH AND GIVE PENSIONERS A BETTER PACKAGE – A WIN WIN SITUATION.

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  3. Thus why President HH said NAPSA should start paying Mid Term Pension because the Life Expectancy has reduced drastically because of COVID 19.
    All those who are 45 years and above should be paid their pension without any delay.

  4. Do not be hoodwinked minister you are dealing with crooks can that napsa project compete with the kingsland investment just up the road…second the money should not contribute to the GDP directly any investment is fund holders money therefore any return should go to the fund members…if you as grz want to get the FUND to invest into any of your own projects then we can agree on terms so dont see that ‘silly’ project to house 20,000 people as a plus change the project into agriculture venture not another white elephant go and visit their other ‘investment’ in new yanga and see if its viable….then come and talk

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