WANGWE: NSSF boss must be up to task, reverse losses

This is to ensure that the resources of the entity are used in a way that is lawful, authorised, effective, efficient, economical and transparent.

The new chief executive officer of the National Social Security Fund  thus has to be up to the task of reversing the poor performance of investments by the country’s pension scheme.

He came in last year touted that he was a new breed. We need to harness his new ideas and we call on him to make the right decisions and safeguard workers' money.

He does not need to hold shares in Sameer Africa, Athi River Mining, or in East Africa Portland Cement.

All those companies mentioned are those that are on a nose-dive. The NSSF management needs to make a commercial decision.

As a house team – Public Investments Committee on Social Services, Administration and Agriculture - we are raising the red flag to him that his coming on board should make a difference.

The financial year 2023-24 is his first reporting year. We must put him to task when he comes before the committee to explain, supported with board minutes, on how they are planning to turn around NSSF.

We will expect the chief executive officer to particularly explain to the committee and to Parliament what they have specifically done or plan to do with the investments in nose-diving organisations and any other venture that is yet to post meaningful returns.

We have done the reporting on NSSF financial statements for the financial year ending June 30, 2020.

When we resume after this turbulence, we will be looking at the reports for the fiscal year ending June 30, June 30, 2021, June 30, 2022, and June 30, 2023.

Through these reviews, we will then catch up with the NSSF management on the queries raised by the auditor general.

Navakholo MP and chairman of PIC Social Services spoke to Star

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