NAPSA still Financially Sound assures Muyangwa Muyangwa


By Ashton Kelly Bunda

National Pension Scheme Authority (NAPSA) Director General Muyangwa Muyangwa (left) has assured that the authority has sufficient liquidity to meet all its liabilities including payments of the pre-retirement lump sum as opposed to assertions from some sections of the society that NAPSA is on the verge of liquidation.

Speaking during a Press Briefing at NAPSA head office on 26th October 2023, a delightfully confident Mr. Muyangwa said some properties and land parcels being sold was in a bid to to raise funds due to liquidity challenges caused by the payment of benefits under the newly introduced pre-retirement lump sum benefit.

On the decision to sale some properties and land parcels, Muyangwa defended the move as purely a long-term strategic investment decision aimed at improving the performance of the real estate asset class whose return on investment has not been very good for a long time now.

“We are aware of people in some sections  of society  have misunderstood situation and are spreading falsehood that NAPSA is selling some properties and land parcels land due liquidation challenges and that we might fold up and leave retirees for dead,”Muyangwa explained.

The board chairperson narrated that in the year 2022 NAPSA undertook a review of its investments to identify assets that were not contributing positively to the return on the portfolio management identified various assets classes including bare land parcels and some commercial properties which were not contributing positively to the return on portfolio management.  


Comments

Post a Comment

Popular posts from this blog

Independent Broadcasting Authority to Repeal Act,Guntila Muleya

Image
  Independent Broadcasting Authority   to Repeal Act,Guntila Muleya By Ashton Kelly Bunda Independent Broadcasting Authority (IBA) director general Guntila Muleya says technology has transformed faster than regulation and that changing IBA Act number 17 of 2002   will help in addressing the gap. Speaking during the Independent Broadcasting Authority (IBA) Meet and Greet the Director General (DG) media event held at on 17 th May ,2024 at Quorum hotel Lusaka ,Muleya   said challenges and opportunities lie ahead and his team is committed to fostering collaborative relationships with all stake holders so that can towards creating an enabling broadcast media   environment that serves the interest of all Zambians. “together with my team at IBA we plan to implement regulatory frameworks that strike a balance between freedom and responsibility by ensuring that broadcasting stations adhere to regulations   and guidelines ,while also preserving their editor...
Read more

Shadreck Chapala Zanaco grounds Man Forgotten Hero

Image
  Shadreck Chapala   Zanaco grounds Man Forgotten Hero By Ashton Kelly Bunda Former Zambia National Commercial Bank (ZANACO) football club kit co-ordinator –cum grounds man   has appealed to    ZANACO   director   Chibesa Kunda   and the sports department to reward   him   for   passionately   working for the soccer   stadium and rooting for the team during league matches for 14 years. Chapala initially    joined the bankers in 1999   as   a “DIE hard “one    man   supporter   who used to   ring the loud bell around the stadium   helped to   motivate and groom   some   prominent   soccer stars among them former Glassgow Rangers   striker Fashion Sakala ,Italian Serie A winger Lameck Banda of Lecce football club   and   2010   Zambian   super league top scorer Winston Kalengo   who used   to walk with him for train...
Read more

Blessings upon church and political leaders in zambia

Image
  Blessings upon Church and Political Leaders in Zambia, Apostle Quentin   Cook By Ashton Kelly Bunda The church Jesus Christ latter-Day Saints   member of the Quorum of the twelve apostle Quentin LarMar    says when there is genuine repentance one expect forgiveness ,comfortable life and blessings . Apostle Cook who arrived in Zambia on 21 st February 2023 is a religious leader who is a native of Logan city in Utah united states of America (USA) told members of the church at Lusaka stake that repentance is key to celestial kingdom to dwell in the heavenly presence the father and Jesus Christ. Apostle Cook 82 years old a former lawyer and business executive spoke blessings upon the Zambian church leaders and that may   God bless them with wisdom and resources to contribute to the   advance their nation. Apostle Quentin who praised the 17 th prophet of the church Russel Marion Nelson the former heart surgeon for his wise decisions and deeper...
Read more