NSSA announces new board
THE National Social Security Authority (NSSA) on Friday announced new board nearly two years after the tenure of the previous board expired.
The board is chaired by investment banker Robin Vela. Other board members include lawyer, Daphne Tomana (deputy chairman), banker Hashmon Matemera, Nester Mukwena, Eria Phiri, labour unionists Jemina Mateko, Richard Gundane, Memory Mukondoni and a worker representative yet to be appointed.
Ministry of Public Service, Labour and Social Welfare, Priscah Mupfumira said the NSSA board is made up of three members representing workers’ organisations, three representing employers’ organisation and three directly chosen by the minister.
“The current economic environment will call upon you to review the NSSA investment policy so that it is aligned to the expectations of ZimAsset in terms of development issued. Hence the need to have an investment mix which takes into account the welfare of the pensioners,” Mupfumira told journalists at a function to announce the board.
The general manager, James Matiza is an ex officio board member. The ministry is also represented on the board by a non-voting member.
The three board members chosen directly by the Minister are Vela, Tomana and Matemera.
The board members representing employers’ organisations are Biyam, Mukwewa and Phiri.
The nominees of workers’ organisations appointed are Mateko and Gundane.
Labour minister Priscah Mupfumira said a third workers’ representative would be appointed later, after various regulatory clearance procedures had been completed.
The ministry representative appointed as a non-voting member of the board is Mukondomi.
NSSA, which has 70 percent of its investments in the equities market, has interests in 53 of the 59 companies listed on the Zimbabwe Stock Exchange, holding at least 10 percent shareholding in 12 counters.
“It is necessary for the NSSA investment policy to address issues relating to infrastructure development; agricultural production, processing and marketing; small and medium enterprises and housing; especially low income earners. We want the investment policy to also focus on issues of creation of jobs rather than simply concentrating on money market investment,” Mupfumira said.