There were calls at the recent
Of course, a pension fund's primary motivation for investing is to grow the fund for the benefit of future pensioners and other beneficiaries. There must, therefore, be mechanisms for pension fund investments to yield a return that benefits the fund and its existing and future beneficiaries.
Areas that were suggested for possible investment included agriculture and electricity. One way in which this could happen would be through the issue of interest bearing bonds to raise funds for these sectors that pension funds could invest in.
Recently Finance and Economic Development Minister
Highlighting the fact that insurance companies and pension funds were capable of harnessing funds for critical infrastructure development, he said he would like to see such funds going towards infrastructure developments such as housing and small hydro projects.
Its first infrastructure investments were in housing. Initially it made the money available for housing schemes through building societies.
In this way it financed the construction of houses for BHP staff in Chegutu and housing projects in Shamva, Norton,
Between 2001 and 2002 NSSA carried out some studies on housing development which led to a decision to become more directly involved in housing projects.
As a result of this decision it purchased land for housing around the country and became directly involved in the servicing of housing stands and, in some cases, the construction of some houses. It serviced 699 stands in Marondera's Rusike suburb, on 204 of which it built houses. In Glaudina, on the outskirts of
In the second phase of the Glaudina project, NSSA intends to service 1 600 high density stands. It is currently about to begin servicing 683 residential stands in Runyararo West in Masvingo. It has provided the local authority with a loan for construction of the off-site infrastructure that needs to be in place before it can begin servicing the stands.
NSSA has also constructed shopping malls in Gwanda and Mutare's Sakubva suburb and a business centre in Bindura. It plans to build a similar centre in Chipinge.
It constructed the
Ekusileni has the potential to provide specialist medical services but is not yet operational.
At the turn of the century NSSA constructed
In Beitbridge, it constructed the new
Investment in infrastructure intended to benefit the nation, various communities and members of the pension fund is something which NSSA has been doing on an on-going basis.
Where housing is concerned it has a long-term plan for the development of housing schemes on various pieces of land it has acquired for that purpose since it cannot develop all of the schemes at the same time and it also requires off-site infrastructure to be in place before it can begin to service stands.
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