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