Emmanuel Fundira, the National Social Security Authority (NSSA) chairman, and former Rainbow Tourism Group (RTG) executive Paula January are accused of plotting to devalue RTG’s shares to buy them at a lower price.
As reported by <a href="https://thenewshawks.com/nssa-chairman-embroiled-in-underhand-rtg-takeover-bid/">The NewsHawks</a>, NSSA, which holds a 91.6% stake in RTG, plans to sell 56% of its shares, and Fundira is believed to be creating negative market sentiment to drive down the stock price.
Fundira, also involved in hospitality through African Sun and other ventures, is said to be in conflict due to his interests in both Nssa and RTG.
Despite an agreement not to engage in hospitality affairs, he is allegedly influencing events at RTG to support his personal interests.
The Zimbabwe Anti-Corruption Commission (ZACC) has launched an investigation into RTG’s executives, focusing on payments in salaries, gratuities, allowances and bonuses, and the agency has issued a warrant to seize documents.
RTG denies any wrongdoing, claiming the investigation is politically motivated.
Fundira, appointed NSSA chairman in 2023, is accused of manipulating the situation to lower RTG’s share price, allowing him and his allies to purchase shares at a discounted rate.
He is also accused of leaking information to Paula January, which she allegedly passed on to ZACC to settle personal scores.
ZACC investigators have reportedly kept Paula January informed about their probe, including sending her updates via WhatsApp during meetings with RTG board members.
However, Fundira denied the allegations when speaking to The NewsHawks, saying he has no working relationship with Paula January and dismissing claims of manipulating RTG’s share price for personal gain. He said:
<blockquote>
The true position is that I do not have any working relationship with so-called Paula January (whoever she is) nor do I have access to RTG financial information in as much as RTG is a subsidiary of NSSA of which I am a NED (non-executive director) and chairman.
It is however common cause that RTG have a reporting line to the executive at NSSA as a subsidiary and that as a public-listed entity they have their own board chaired by Mr Douglas Hoto.
</blockquote>
Paula January also denied knowing Fundira and claimed that the audio leaks, which allegedly showed frequent contact between them, were doctored. She said:
<blockquote>
Unfortunately, I don’t do voice notes after my past experiences with RTG. We are living in the times of technology and things can be doctored.
I moved on with my life and I have been here in Malawi for four years. I actually wish RTG well and by the way, who is Fundira and what does he do at RTG?
</blockquote>
In response to The NewsHawks‘ questions, RTG acknowledged the role of ZACC in fighting corruption but said it was challenging the search and seizure warrant. The company argued that seizing payroll and employee contracts could not prove the charge of money laundering.
RTG argued that stock exchanges worldwide are designed to be secure investment platforms, regularly audited and overseen by multiple regulatory bodies to ensure transparency and compliance.
RTG pointed out that during the period of interest, its activities had been reviewed by several entities, including the Reserve Bank of Zimbabwe (RBZ) and the National Economic Conduct Inspectorate (NECI), Zimbabwe Revenue Authority (Zimra), Financial Intelligence Unit (FIU) and external auditors.

Pindula News

NSSA Chairman, Emmanuel Fundira, and ex-RTG executive Paula January are accused of trying to take over RTG by lowering its share prices. Fundira, who works at NSSA and African Sun, is said to be causing a drop in RTG's stock price to benefit himself. ZACC is investigating RTG for alleged corruption related to salaries and bonuses. Fundira denies the accusations. RTG disputes the claims and says they are politically motivated. They argue that their activities are reviewed by various regulatory bodies. Paula January also denies any involvement with Fundira and claims that evidence against her is doctored.

NSSA Chairman And Ex-RTG Executive Accused of Plotting Underhand RTG Takeover Bid

The National Social Security Authority (NSSA) has come under scrutiny for controversially issuing a total of ZWL$12 billion in loans and advances that lack any supporting loan agreements or formal arrangements.
This finding was revealed in the Auditor-General’s report for the Financial Year ended December 31, on State-owned Enterprises and Parastatals.
The absence of proper loan documentation raises questions about the legitimacy and purpose of these ZWL$12 billion in disbursements, which appear to have been made in a murky and unstructured manner. Acting Auditor-General Rheah Kujinga said:
<blockquote>
The Group disclosed an amount of ZWL$13.1 billion as loans and advances. In this amount, ZWL$12 billion was not supported by any loan agreements or loan arrangements.
As a result, I could not satisfy myself on the recognition, measurement and disclosure of these loans in the 
financial statements.
</blockquote>
By disbursing loans amounting to ZWL$12 billion without the support of loan agreements, NSSA is risking significant losses to pensioners’ funds.
The Auditor General’s report further disclosed that NSSA board members are flouting the law by neglecting to declare their assets, which raises critical concerns about their integrity.
According to Section 37 of the Public Entities Corporate Governance Act [Chapter 10:31], board members and senior staff are required to declare their personal assets within three months of their appointment. This requirement is crucial for maintaining probity, transparency, and accountability.
Acting Auditor-General Rheah Kujinga has warned that the failure of NSSA board members to declare their personal assets poses a risk to the board’s oversight role, transparency, and accountability.
She has instructed NSSA to enforce annual updates of asset declarations by board members. Said Kujinga:
<blockquote>
The Authority’s Board members did not declare assets within three (3) months of appointment. This was contrary to the Public Entities Corporate Governance Act [Chapter 10:31] Section 37 which requires declaration of assets to be done by the Board and senior members of staff.
Senior members of staff and the Board should declare their assets in line with Section 37 of the Public Entities Corporate Governance Act [Chapter 10:31].
</blockquote>
NSSA has been plagued by financial scandals over the years, where privileged managers have received generous loans and perks, while pensioners endure severe poverty.
Currently, pensioners receive a paltry US$50 per month from NSSA.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

The National Social Security Authority (NSSA) made $12 billion in loans without proper documentation, according to the Auditor-General's report. This raises concerns about where the money went and if it will be paid back, risking pensioners' funds. The report also found that NSSA board members are not declaring their assets as required by law, which affects transparency and accountability. The Auditor-General instructed NSSA to enforce asset declarations to ensure proper oversight. NSSA has a history of financial scandals, where managers receive benefits while pensioners struggle. Pensioners currently receive only $50 per month from NSSA.

NSSA Made Unsubstantiated $12 Billion Loans And Advances In 2023 - AG Report

The National Social Security Authority (NSSA) Pensioners Advocacy group has demanded an urgent upward review of the monthly payouts received by NSSA pensioners, reported <a href="https://www.newzimbabwe.com/we-are-starving-nssa-pensioners-petition-parliament-over-measly-pay-outs/">NewZimbabwe.com</a>.
Addressing the Public Service Parliamentary Portfolio Committee on Monday NSSA Pensioners Advocacy representative, Denford Mangwiro, revealed the dire situation facing NSSA pensioners, who are struggling to make ends meet with the meagre monthly stipend.
He said the current US$50 payout is simply not adequate to meet the rising costs of living and provide for the essential needs of pensioners. Said Mangwiro:
<blockquote>
We have no money to go to the hospital, no money to buy food, no money even to get transport to the bank to get the little that is available at the end or beginning of the month.
What we are faced with is in a sense, a national disaster because at the end of the day, while we are suffering like this, we have the youth, we have people who are working, that will have the same challenge when they go on pension unless something changes and change drastically.
</blockquote>
Mangwiro said pensioners’ rights are being violated, adding that NSSA management was abusing the pension fund. He said:
<blockquote>
Pensioners are starving, their legal dependents are failing to access reasonable health services and their dependents are being chased away from school and failing to pay school fees which is contrary to Section 75 of the Constitution- the right to Education and Section 76, the Right to health care. Pensioners have been denied their right to decent accommodation too.
</blockquote>
In response to the demands made by the NSSA Pensioners Advocacy group, the Public Service Secretary, Simon Masanga, acknowledged that NSSA pensioners are facing significant financial challenges, but he argued that NSSA is not solely responsible for their predicament.
He stated that NSSA has been the only government entity that has been able to continue providing support and coverage to retirees, as most other social security schemes have collapsed. He told the Parliamentary committee:
<blockquote>
There have been many occupational pension funds and some have folded and at some parastatal where l used to be a board member, the pension fund is now nowhere to be seen.
I am happy that NSSA continues to swim and we continue fighting for the situation to improve the pension payout.
</blockquote>
In further defence of NSSA’s pension payout levels, the authority’s Acting General Manager, Charles Shava, provided additional context to the parliamentary committee.
Shava acknowledged that NSSA had previously paid a minimum pension of up to US$100 per month to its beneficiaries.
However, this figure had subsequently fallen to around US$30 per month, before being increased to the current US$50 per month payout. Said Shava:
<blockquote>
Our pensioners are demanding immediate pension relief, for the past two years, we have been revising our payouts from January 2022 to about September 2023 every month taking into account the inflation that was going on. We only review our payouts upwards once we feel we have enough resources.
</blockquote>
Shava also explained to the Parliamentary committee how the NSSA pension scheme works. He said:
<blockquote>
When the NSSA pension scheme was designed, it was done in such a way it would coexist with other pension schemes. It is not the ultimate pension.
NSSA contributions are very small compared to other deductions on one’s pay slip. You can only get an NSSA pension if you already have an occupational pension which goes for 20 percent.
We only deduct 9% as NSSA, 4,5% from the employer and the other half from the employee on the cap which is currently US$700.
It is called a Partially Funded Pay As You Go Scheme; meaning we pay benefits from the amount we collect every month.
We also pay our pensioners from investments’ income, meaning we can increase our payouts if we have a surplus.
</blockquote>
Addressing the allegations of abuse and mismanagement of pension funds by NSSA’s management, Shava said the authority takes such claims very seriously.
He told the parliamentary committee that some individuals have been prosecuted, and in certain cases, they have been sentenced to serve jail time for their involvement in corrupt practices.
Shava stated that the authority maintains a “no-nonsense approach” when it comes to such allegations.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

NSSA Pensioners Petition Parliament Over Inadequate Payouts

The National Social Security Authority (NSSA) acting general manager, Charles Shava, said that the deduction of pension contributions from civil servants’ US dollar salary component will continue over the next two months.
This deduction, which was implemented retroactively from January 2024, began in June under the direction of the Public Service Commission.
Speaking during a session of the IPEC/NSSA Journalists Mentorship Programme for 2024 last week, Shava said (via <a href="https://www.newsday.co.zw/business/article/200029101/backdated-pension-deductions-in-civil-servants-us-salaries-to-continue">NewsDay</a>):
<blockquote>
The law says contributions to NSSA will be based on the currency of income so if an organisation is paying its employees in US dollars their contribution to NSSA will be in US dollars. If it is paying in ZWG, their contributions will be in ZWG.
The particular issue of civil servants emanated from the fact that with effect from January this year, the US$300 was converted to a salary and by that operation their contribution to NSSA, because it became salary, had to be contributed to US$.
So, as NSSA, we wrote to the Public Service Commission informing them of the need to align with the SI [statutory instrument] which was passed by the government which the Public Service ministry confirmed with another SI to make sure that those deductions are done properly in US$ as per the law.
</blockquote>
The PSC opted to spread out the pension contribution deductions over a two-month period to minimize the financial impact on civil servants, as the deductions were applied retroactively from January 2024. Said Shava:
<blockquote>
That is an issue between the Public Service Commission and employees in government. So, as NSSA, we really don’t have anything that we could do or not do except just to enforce the law by making sure that contributions from the public service are done in the correct currency as per the law.
This is from January 2024. This does not affect the private sector. I think their systems are working well. Those that are paying in ZWG are paying and those who are paying in ZWG are paying so we don’t have problems with the private sector. This is only for the public service.
</blockquote>
In June, civil servants, such as teachers took home net salaries of about US$270 down from US$320 following the deductions.
Trade unions representing public service workers condemned the move by the Government to deduct their USD salaries for their pension contributions, describing it as “fraudulent”.
Progressive Teachers Union of Zimbabwe (PTUZ) secretary-general Raymond Majongwe wrote to the PSC challenging the decision and said they were alarmed “by such callous unilateralism intended to further impoverish civil servants.”
NSSA has a long history of shortchanging pensioners amid allegations of corruption and poor management at the Authority.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

NSSA To Continue Backdated Pension Deductions From Civil Servants' US Dollar Salaries

Trade unions representing public service workers have condemned the move by the Government to deduct their USD salaries for their pension contributions, reported <a href="https://www.newsday.co.zw/local-news/article/200027879/civil-servants-govt-clash-over-us-deductions">NewsDay</a>.
This comes after Public Service Commission (PSC) Secretary Tsitsi Rosemary Choruma-Dozwa on 28 May wrote a circular stating that all public service workers would be required to pay their pension contributions in foreign currency, starting this year.
Civil servants earn salaries both in United States dollars and ZiG and the new directive states that government workers would use the same ratio in making their contributions.
However, unions representing government workers have described the move as “fraudulent”.
Progressive Teachers Union of Zimbabwe (PTUZ) secretary-general Raymond Majongwe has since written to the PSC challenging the decision to implement US dollar deductions.
Majongwe said they were alarmed “by such callous unilateralism intended to further impoverish civil servants.” He added:
<blockquote>
The US$ National Social Security Authority deductions must be commensurate with the US$ salary adjustments, and in any case, the proposed deductions and backdating are not a product of consultation with stakeholders such as unions representing the civil servants.
The US$ NSSA deductions must succeed in meaningful US$ salary adjustments which we feel are long overdue, and the PSC and government must respect its workers and desist from approaches that are tantamount to colonial master and servant relationship.
</blockquote>
Speaking to NewsDay, Amalgamated Rural Teachers Union of Zimbabwe president Obert Masaraure said:
<blockquote>
The US$ deduction is going to severely affect workers, the majority of who earn depressed salaries.
We continue to demand a US$1 260 salary for teachers so that they will have enough to cater for the basics even after paying these subscriptions.
</blockquote>
Zimbabwe Teachers Association (ZIMTA) spokesperson Goodwill Taderera said:
<blockquote>
What is critical is that they have to communicate before a deduction is made. We strongly advise that in future our employer should make a communication first so that we can prepare before a deduction is made.
</blockquote>
Zimbabwe Congress of Trade Unions (ZCTU) vice-president Valentine Chikosi:
<blockquote>
Workers are faced with a precarious situation where their salaries are predominantly in ZiG yet their expenses are predominantly in United States dollars.
People need foreign currency to cover rent, transport, fuel, medical expenses and school fees among other statutory obligations.
Workers are left with no option but to source the much-needed US dollars from the black market risking being arrested.
</blockquote>
Chikosi said the ZIG had so far failed to improve the welfare of workers, adding that there was an urgent need to address the “peanuts” salaries earned by most workers.
Meanwhile, the NSSA acting General Manager, Charles Shava, stated USD contributions by public service workers “would go a long way in sustaining the viability of the NSSA scheme.”
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Govt Faces Backlash For Deducting Civil Servants’ USD Salaries For Pension Contributions

The government has declared that all public service workers who earn in foreign currency would be required to pay their pension contributions in the same currency, starting this year.
Civil servants earn salaries both in United States dollars and ZiG and the new directive states that government workers would use the same ratio in making their contributions.
In a circular dated 28 May 2024, PSC Secretary Tsitsi Rosemary Choruma-Dozwa stated that the USD National Social Security Authority (NSSA) contribution would be implemented following the conversion of USD COVID-19 and cushioning allowances to pensionable emoluments with effect from 1 January 2024. She wrote:
<blockquote>
Please be advised that the Treasury has concurred with implementing the provisions of Statutory Instrument (SI) 169/2021 on the public sector employees with effect from 01 January 2024, Section 8(b)(4) provides that, “Any person in Zimbabwe who earns remuneration in a currency other than that of Zimbabwe shall be required to pay his/her contributions in foreign currency and in cases where individuals earn remuneration in a combination of foreign currency and Zimbabwean Dollars, he or she shall pay contribution the same currency ratio.”
Please note that the outstanding contributions should be staggered in three months, commencing in 2024. 
</blockquote>
As reported by <a href="https://cite.org.zw/public-service-workers-to-pay-pension-in-foreign-currency/">CITE</a>, Choruma-Dozwa also wrote to the government’s Paymaster advising of the same instruction.
This came after NSSA Acting General Manager, Charles Shava wrote to the Permanent Secretary in the Ministry of Public Service, Labour and Social Welfare on 24 January 2024, requesting assistance to notify the PSC that following the conversion of the USD COVID-19 Allowance for public service employees into a pensionable salary, NSSA advised on the computation of NSSA contribution as guided by Section 8(b) of SI 169 of 2021.
The NSSA acting General Manager stated that this request “would go a long way in sustaining the viability of the NSSA scheme.”
This prompted Simon Masanga, the Permanent Secretary in the Ministry of Public Service, Labour, and Social Welfare, along with George Guvamatanga, the Permanent Secretary in the Ministry of Finance and Economic Development, to write to the secretary of the PSC, requesting the same order. Reads the letter in part:
<blockquote>
Following the conversion of the US$ COVID-19 and US$ cushioning allowances for Public Service employees into a pensionable salary, the NSSA has advised that the computation of NSSA contributions is guided by Section 8(b) of SI 169 of 2021.
Given this development, NSSA is requesting the commission to implement the provision of SI 169 of 2021 with effect from 1 January 2024 to enable the viability of the NSSA schemes.
</blockquote>
Meanwhile, unions representing public service workers have criticised the move, saying it will further impoverish them.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

Civil Servants To Pay Pension Contributions In Foreign Currency

The Zimbabwe Anti-Corruption Commission (ZACC) has arrested the former Director Investment for the National Security Authority (NSSA), Brian Murehwa, on allegations of fraud.
ZACC said Murehwa, who has been on the run for over a year, was arrested during a raid at his home in Borrowdale, Harare. It said:
<blockquote>
ZACC has arrested the former Director Investment for the National Security Authority (NSSA), Brian Murewa, on allegations of fraud. Murehwa, who has been on the run for over a year, was arrested during a raid at his Borrowdale home in Harare.
</blockquote>
Murehwa stands accused of misrepresenting the cost of a guest house acquired by NSSA in Kariba. While he claimed it was priced at US$240,000, evidence reveals that the actual purchase price was US$215,000.
He allegedly converted the US$25,000.00 balance to his personal use. Murehwa is scheduled to appear before the Harare magistrate court on Thursday, April 04.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

ZACC Has Arrested Fugitive Former NSSA Director

The National Social Security Authority (NSSA) has spent more than US$2 million to renovate St Tropez apartments in Estlea, Harare.
St Tropez is located along Samora Machel Avenue and has 60 units comprising 22 one-bedroomed and 38 two-bedroomed apartments.
Speaking to <a href="https://businesstimes.co.zw/nssa-splurges-us2m-on-st-tropez-property-rehab/">Business Times</a> on the sidelines of a ceremony to officially open the apartments recently, NSSA general manager Charles Shava said:
<blockquote>
The [US$2 million] refurbishment is a complete face-lift to this community and to our capital city, Harare.
The flats will now be operated by a corporate tenant Urban Vision as a self-catering apartment hotel offering a bed and breakfast.
Their convenient proximity to the city centre is an added advantage for the occupancy.
</blockquote>
NSSA Chairman Emmanuel Fundira said the St Tropez apartment will have a social impact in terms of providing decent accommodation. He said:
<blockquote>
The St Tropez apartments add a new dimension to the housing projects that NSSA is involved in.
Traditionally, NSSA, together with its wholly owned subsidiary, NBS, has focused on low-cost houses in line with its social security mandate.
The objective of this strategy is to maximise the number of people that would benefit from the units constructed.
Units, such as the St Tropez apartments, are purely an investment decision that is expected to yield good returns for the sustainability of the NSSA fund.
In the same vein, this investment is therefore a win-win as it has a social impact in terms of providing decent accommodation.
</blockquote>
Fundira said such investments will help beneficiaries such as pensioners, orphans, and other disadvantaged people covered by Authority schemes get better payouts.
According to Business Times, the flats were acquired in 1985 for the Worker’s Compensation Insurance Fund (WCIF) under the then Ministry of Labour.
They were later inherited by NSSA in 1994.
In 1999, NSSA attempted to sell the property on the open market but faced objections from the residents.
The case eventually spilled to the Supreme Court which in June 2016 ruled in favour of NSSA and granted it an order to evict the tenants.
The protracted legal dispute resulted in the collapse of the flats’ water and sewer reticulation system.
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

NSSA Spends US$2 Million On St Tropez Property Rehabilitation

The National Social Security Authority (NSSA) has pledged to pay pensioners part of their monthly pension in US dollars to cushion them against runaway inflation.
NSSA said pensioners will receive the money through mobile money services or their banks. It said:
<blockquote>
NSSA beneficiaries will receive a portion of their monthly pension in US dollars for June. ​​​
Beneficiaries with Econet lines will have the choice of receiving the US dollar component through Ecocash or their usual bank accounts.
</blockquote>
Zimbabwe’s unending economic crisis has thrown pensioners deeper into poverty as their meagre monthly payouts in Zimbabwean dollars are gobbled by inflation.
The majority of pensioners cannot afford to buy food and medication due to soaring prices and rising inflation.
Pensioner Veronica Gundano (74), told <a href="https://www.timeslive.co.za/news/africa/2023-05-25-zimbabwean-pensioners-to-receive-part-of-monthly-pension-in-us-dollars-to-cushion-against-inflation/">TimesLIVE </a>that pensioners are struggling to make ends meet. She said:
<blockquote>
The cost of everything has gone up. l can’t even buy groceries or my medication with my monthly pension of ZWL$40,000 [R2,137]. Pensioners are living [in] poverty and we are struggling.
Receiving a portion of my monthly pension in US dollars will be helpful, but the government still needs to do much more to lift pensioners out of poverty.
</blockquote>
Economist Victor Bhoroma welcomed the move by NSSA to pay pensioners part of their monthly pension in US dollars. He said:
<blockquote>
NSSA has been receiving contributions from its members in foreign currency for some time. Close to 160 000 pensioners are on the NSSA payroll.
The majority of these are wallowing in extreme poverty due to high levels of inflation in the local currency.
As such, the move will help alleviate poverty, cover the gap left void by disintegrated social safety nets and improve buying power for pensioners.
</blockquote>
More: <a href="https://www.pindula.co.zw/">Pindula News</a>

NSSA To Pay Part Of Monthly Pensions In US Dollars

National Social Security Authority (NSSA) board chairman, Percy Toriro, has offered to resign citing his prolonged physical absence from the country, reported <a href="https://www.businessweekly.co.zw/nssa-board-chair-toriro-steps-down-becomes-fifth-to-leave-in-just-seven-years/">Business Weekly</a>.
Toriro becomes the fifth person to leave the NSSA board in seven years, with board chairpersons and general managers hardly lasting more than two years on average.
Reports claim that NSSA was planning to axe Toriro at any time. He has been out of the country since October last year and attended board meetings virtually.
In his resignation letter to Public Service and Social Welfare Minister Paul Mavima last week, a copy of which was leaked to Business Weekly, Toriro wrote:
<blockquote>
Further to my letter of 28 December 2022, I wish to advise you that I continue to be away doing consultancy work on urban planning advisory in a few cities on the continent in West Africa.
There continues to be a lot of work for me here and I may not be back in the country any time soon.
It has become increasingly difficult to effectively participate from a distance even when you have appointed an acting chairperson.
Although I have been able to attend some business and meetings virtually, I recommend that you identify a replacement board leader so that the diverse and complex NSSA operations are not disrupted by my absence.
</blockquote>
Toriro’s first five-year term was due to expire in 2026 but a “toxic working culture due to serious political interference” probably forced him to resign. A Business Weekly source was quoted as saying:
<blockquote>
It’s only that NSSA collects retirement savings every month; that is why it is surviving.
From the time James Matiza left, it has been corruption after corruption and it appears that anyone who gets the privilege of influencing decisions wants to lay his/her hand on NSSA coffers.
So it cascades from the top (the politicians) to managers, and everyone sees opportunities.
There is no longer a shared purpose, or vision, people are just motivated to line their pockets.
</blockquote>
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

NSSA Board Chairman Percy Toriro Resigns

The Zimbabwe Congress of Trade Unions (ZCTU) has requested Public Service, Labour and Social Welfare minister Paul Mavima to respond publicly to allegations that he bought a US$350 000 Borrowdale house through the National Social Security Authority (NSSA).
Media reports claim Mavima facilitated the property deal without following due process.
In a statement dated 28 February 2023, ZCTU acting secretary-general Kudakwashe Munengiwa said:
<blockquote>
The Zimbabwe Congress of Trade Unions notes with concern the corruption allegations relating to the purchase of a Borrowdale house being levelled against the Minister of Labour and urge him to come clean.
Mavima is accused of arm-twisting NSSA to buy him a house valued at US$350 000 while promising to pay back later after receiving his US$500 000 housing allowance awarded to Cabinet ministers.
Upon purchase, it is said the house was sold to Mavima before the property could be entered into NSSA books.
We note that funds used to purchase the said property are pensioners’ contributions and investments.
It is, therefore, prudent for the minister as the custodian of those funds to come clean on the matter.
</blockquote>
The ZCTU is concerned that powerful individuals continue to manipulate systems to bleed NSSA while payouts and benefits remained paltry.
Contacted for comment by <a href="https://www.newsday.co.zw/local-news/article/200008483/come-clean-on-us359k-deal-zctu-tells-mavima">NewsDay</a> on Tuesday, Mavima said:
I have no comment. There is a forensic audit underway. It should remain objective and not tainted with comments from the minister.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

ZCTU Demands That Minister Mavima Publicly Responds To US$350k Borrowdale House Allegations

National Social Security Authority (NSSA) acting general manager Charles Shava, who was arrested on Thursday on a criminal abuse of office charge, has been granted bail by the Harare Magistrates Court, reported <a href="https://www.newsday.co.zw/local-news/article/200008278/nssa-boss-gets-500-000-bail">NewsDay</a>.
Shava, who was being represented by Musindo Hungwe, was granted $500 000 bail when he appeared before Harare magistrate Stanford Mambanje on Friday.
Shava allegedly altered a board resolution that had rejected the proposed allowances for four NSSA doctors.
It is alleged that Shava caused the human resources manager to pay the allowances without approval, claiming the board had approved the allowances.
More: <a href="https://zero.pindula.co.zw/">Pindula News</a>

NSSA Boss Charles Shava Granted $500 000 Bail

The Zimbabwe Anti-Corruption Commission (ZACC) on Thursday arrested National Social Security (NSSA) acting chief executive Charles Shava for fraud involving $12 246 571,48.
Shava allegedly altered a board resolution that had rejected the proposed allowances for four NSSA doctors.
It is alleged that Shava caused the human resources manager to pay the allowances without approval, claiming the board had approved the allowances.
He was taken to Avondale Police Station where he was detained pending his court appearance on Friday.
More <a href="https://zero.pindula.co.zw/">Pindula News</a>

NSSA Acting CEO Charles Shava Arrested On Fraud Allegations

Members of Parliament want the Insurance and Pensions Commission (IPEC) to regulate the National Social Security Authority (NSSA) and medical aid societies as they are multi-billion-dollar institutions.
This came out during the debate on the Insurance and Pensions Bill, which is currently in the Second Reading Stage in the National Assembly. Harare East legislator Tendai Biti (CCC) was quoted by <a href="https://www.newsday.co.zw/local-news/article/200008150/mps-demand-nssa-regulation">NewsDay</a> as saying:
<blockquote>
Medical insurance companies and NSSA must be regulated by IPEC as was the original amendment in the Bill.
The health system has been compromised in Zimbabwe because of the shoddy services by medical aid societies like Cimas and the Premier Service Medical Aid Society (PSMAS).
</blockquote>
Kambuzuma legislator Willias Madzimure (CCC) said people were losing their money at NSSA and medical aid societies, therefore, there is a need to regulate the institutions.
More <a href="https://zero.pindula.co.zw/">Pindula News</a>

MPs Want NSSA, Medical Aid Societies To Be Regulated

The National Social Security Authority (NSSA) has reversed the appointment of Agnes Masiiwa as the authority’s new Acting General Manager.
Masiiwa was appointed NSSA Acting General Manager effective from 1 January 2023, taking over from Charles Shava on a rotational basis pending the appointment of a substantive General Manager.
However, on Wednesday, NSSA released another public notice revoking Tuesday’s notice signed by board chairman Percy Toriro which confirmed the appointment of Masiiwa. The notice read in part:
<blockquote>
Further to our notice indicating the intention to rotate the acting NSSA general manager position after the incumbent had acted for six months, we have been advised that the timing may not be right since the audit process is not yet complete.
We have been advised to let the incumbent acting general manager continue in the position.
</blockquote>

NSSA Reverses Appointment Of Agnes Masiiwa As Acting General Manager

The National Social Security Authority (NSSA) says it will award pensioners part of their bonuses in United States dollars this December.
It added that the difference for all pensioners will be paid in Zimbabwe dollars.
In a statement, NSSA said it is in the process of opening Nostro Accounts for its pensioners. It said:
<blockquote>
Good news all NSSA pensioners! You will be paid 13th cheque bonuses this December. We are in the process of opening Nostro Accounts with your respective banks and you can begin to access your money by the 16th of December.
</blockquote>
NSSA said retirement pensioners will be paid US$30, other pensioners will get US$20 and those receiving shared pensions will share the bonuses equally.
It also said pensioners under the Accident Prevention and Worker’s Compensation scheme (APWCS) will be paid up to a maximum of US$35, subject to one’s entitlement. | <a href="https://www.chronicle.co.zw/nssa-awards-part-us-dollar-pension-bonuses/">Chronicle</a>

NSSA Pledges To Award Part USD Pension Bonuses

The National Social Security Authority (NSSA) says it will enforce the National Occupational Safety and Health (OSH) policy launched in December last year.
The policy requires employers to implement health and safety standards at the workplace.
Speaking to <a href="https://www.newsday.co.zw/business/article/200003516/nssa-pushes-for-national-health-and-safety-standards">NewsDay</a> on Friday, NSSA acting general manager Charles Shava said current legislation leaves other workers without that protection, hence the OSH Bill which is before Parliament will ensure that all workers are protected. He said:
<blockquote>
We are also going to require the market to do it. We already have the National OSH policy. 
This policy was launched by the Minister of Public Service, Labour and Social Welfare (Paul Mavima) last year in December to be specific.
This policy is a national framework for managing health and safety in the workplace. 
So, within that policy, it was a requirement already before our launch. We are doing this to comply with that policy.
There is already a policy that requires every employer to have arrangements for managing health and safety in their workplaces so it’s already there.
It’s just that we are going to be putting more emphasis to make sure that policy is implemented at all workplaces in the country.
Also, we have a problem with our legislation at the moment. It allows for some leakages for certain employers to get away with some of these requirements but our new OSH Bill which is before Parliament now is going to make sure that every workplace and every worker in the country is covered.
But, at the moment, the current legislation leaves other workers without that protection.
</blockquote>

NSSA Pushes For National Health And Safety Standards At The Workplace

The National Social Security Authority (NSSA) says it will inject more funds into the division of Occupational Safety and Health (OSH) to combat accidents and injuries at the workplace.
NSSA acting general manager, Charles Shava, told <a href="https://www.businessweekly.co.zw/nssa-to-invest-in-accident-prevention-programmes/">Business Weekly</a> that occupational deaths and injuries were high in 2020 despite the industrial inactivity that existed as a result of the COVID-19 pandemic. Shava said:
<blockquote>
We actually intend to do more under this scheme, because this scheme has got funds allocated to make sure that we prevent accidents and we want to make sure that we channel funds to the division of OSH for the scheme to do what it was established for, which is to prevent accidents and diseases in workplaces.
In 2020, we had about 42 deaths and over 5 200 injuries, which was at the peak of COVID-19 although there weren’t many industrial activities.
We expected that deaths and injuries will fall but actually they went up for some reason and we think it is because there was little enforcement from us (NSSA) as a regulatory authority. So, people were free to do whatever they wanted.
</blockquote>
Shava said in 2021, 48 deaths were recorded due to accidents at the workplaces while 4 257 injuries were recorded. He added:
<blockquote>
Again those statistics are very high figures when you consider that we are only talking of people who are in the formal sector.
I think we have about 52 deaths up to the end of August and the year is not even over while injuries are over 4 700 already, so our statistics are certainly not pleasing and we believe we should actually do more.
</blockquote>
Shava said the number of injuries, deaths and diseases at workplaces reported to NSSA was apparently lower than the actual cases.
He said the low reporting rate is attributable to “unfounded fear” that they will be prosecuted.
Shava noted that some employers were ignorant of the fact that they have to report the accidents at the workplace to NSSA.
He said a high number of accidents at workplaces was due to negligence by employers who do not take seriously conditions of service for workers.
According to NSSA, between 2009 and 2018, Zimbabwe lost about US$439 million due to occupational injuries translating to US$44 million per year.

NSSA Says It Will Invest In Occupational Accident Prevention Programmes

The National Social Security Authority (NSSA) says it will review pension pay-outs by up to 50 per cent this month.
It also said the pay-outs will be progressively adjusted in the coming months subject to “affordability and sustainability” to cushion pensioners from recent price increases.
NSSA board chairperson Percy Toriro told State media that the company had reviewed pay-outs of its two schemes — the Pension and Other Benefits Scheme (POBS) and the Accident Prevention and Workers Compensation Scheme (APWCS) — with effect from 1 August 2022.
He said a supplementary payroll for August is being processed to cover the difference in payments made earlier. Said Toriro:
<blockquote>
Following an actuarial review of our two schemes, we obtained requisite approvals to increase benefits under POBS by 50 per cent, which translates to a minimum retiree pension of $24 000, from $16 000.
Those under APWCS will enjoy a 39 per cent increase, which puts their minimum pension at $30 000, up from $21 600.
</blockquote>
Last week, Public Service, Labour and Social Welfare Minister Professor Paul Mavima opened a clinic – which is set to be the first of many – that will offer pensioners free primary healthcare.
<h4>More: <a href="https://www.sundaynews.co.zw/50-percent-boost-for-pensioners/">The Sunday News</a></h4>

NSSA Says It Will Increase Pension Payouts By 50%

The National Social Security Authority (NSSA) has closed accounts for widows and widowers, in a move the organisation says is meant to weed out ghost pensioners.
The move has however triggered an outcry as it affected genuine beneficiaries who say they could not register on time due to travel restrictions in the prevailing coronavirus environment.
In an interview with NewsDay on Sunday, Masvingo Pensioners Forum co-ordinator Charles Gonzi described the move as inconsiderate. He said:
<blockquote>
NSSA closed accounts for those with deceased husbands and wives who could not register on time.
We were told we needed to bring our children regardless of where we are coming from. In this COVID-19 pandemic, movement is very difficult. How are people supposed to travel in this environment?.
</blockquote>
Gonzi said NSSA should have reached out to pensioners first before making the move. He added:
<blockquote>
How are we supposed to register, they did not consider the inconveniences of travelling at such a time. NSSA should do outreach programmes so that everyone registers.
They just closed the accounts and said none will get money.
</blockquote>
Contacted, NSSA deputy director of marketing Tendai Mutseyekwa said they carried out an outreach programme to register pensioners. Said Mutseyekwa:
<blockquote>
We carried a programme between April and June. The life certificate renewal exercise was published everywhere, including on radios. We set up offices everywhere in the country and we reached pensioners everywhere in the country.
The need to renew these certificates is to close ghost beneficiaries. We are trying to protect NSSA funds and the pensioners as well.
</blockquote>
Mutseyekwa said they need proof in order for them to renew those certificates.
Pensioners in the country have been living like destitutes due to unsustainable payouts amid the economic crisis.
<h4>More: <a href="https://www.newsday.co.zw/2021/08/nssa-closes-accounts-for-widows/">NewsDay</a></h4>

NSSA Closes Accounts For Widows, Widowers

The National Social Security Authority (NSSA) said that it has reviewed minimum monthly pension payouts to $3 000 with effect from 1 July 2021.
NSSA deputy director (marketing and communication) Tendai Mutseyekwa said before the latest review, monthly payments were pegged at the equivalent of US$25.
Mutseyekwa said NSSA plans to increase the funds to the equivalent of US$40 in October and then to US$60 by end of the year. He said
<blockquote>The last review was in April 2021, when we increased the minimum payout from the equivalent of US$12 to US$25.
Our target was to increase to the equivalent of US$30 in July but the $3 000 amounts to about US$35, which is US$5 above our target.
The December target of US$60 was informed by ILO recommendations of a minimum daily income of US$2 for someone to survive in the Southern African region.
We have a clear roadmap on pension increases, but we are not stopping there as we have come up with measures to augment the incomes of our beneficiaries.</blockquote>
Mutseyekwa added that NSSA will soon be launching a revolving fund to assist pensioners and beneficiaries to start income-generating projects. He said:
<blockquote>Next week (this week) we shall be launching a revolving fund to assist pensioners and beneficiaries who are interested in embarking on income-generating projects.
This is a microfinance facility that will have a tenure of 18 months with a token interest rate.
The loans will initially be disbursed through NBS and POSB, with other banks to follow.
NBS and POSB account for just over 70 per cent of our beneficiaries, so it made sense to start with them.</blockquote>
<h4>More: <a href="https://www.chronicle.co.zw/nssa-increases-pensioners-payouts-pledges-more/">Chronicle</a></h4>

NSSA Increases Pensioners’ Payouts, Pledges More

Harare magistrate Esthere Chivasa ordered the arrest of former Tourism Minister Priscah Mupfumira after she failed to show up in court for her corruption trial.
Chivasa ordered the arrest despite Prosecutor-General Kumbirai Hodzi and chief prosecutor Michael Reza having authorised Mupfumira to travel to South Africa on Parliamentary business.
Mupfumira is part of a delegation attending a session of the Pan African Parliament (PAP), including Chief Fortune Charumbira, who is vying for the substantive presidency of the continental legislature.
Mupfumira’s bail conditions were relaxed with the state releasing her diplomatic passport so she could attend the parliamentary session in Johannesburg between May 16 through June 02.
Her trial was to continue on June 22 to allow her time to quarantine for the Covid-19 pandemic upon return. Mupfumira’s lawyer Admire Rubaya who complained that her client faced ongoing victimisation by the Zimbabwe Anti-Corruption Commission (ZACC) since her arrest in 2019 said:
<blockquote>_We will consider the court’s ruling and advise our client so that she can exercise her options in terms of the law._</blockquote>
Mupfumira is accused of criminal abuse of office and is charged jointly with Ngoni Masoka, a former secretary in the public service ministry. They face two counts, plus one of concealing a transaction.
Prosecutors allege that Mupfumira used public funds to buy air tickets to attend her daughter’s wedding in South Africa and for the upkeep of her personal aides.
They also say the co-accused siphoned millions of dollars from the National Social Security Authority(NSSA) during their stint at the tourism ministry – charges they deny.
In another corruption rap, Mupfumira is jointly charged with former NSSA contribution and collections officer Barnabas Matongera for allegedly making an unlawful payment of US$3.5 million to a local land developer towards the construction of 1 000 low housing units in the city of Gweru.
Prosecutors say the two acted without NSSA board approval and without following tender processes. She denies the allegations.

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<li class="entry-title"><a href="https://news.pindula.co.zw/2019/12/15/if-theres-a-crime-here-its-zaccs-shocking-involvement-jonathan-moyo-on-marry-chiwenga-charge-sheet/">“If There’s A Crime Here, It’s ZACC’s Shocking Involvement,” Jonathan Moyo On Marry Chiwenga Charge Sheet</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/07/26/mupfumiras-charge-sheet-shows-massive-corruption/">Mupfumira’s CHARGE SHEET Shows Massive Corruption</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2020/09/25/supa-mandiwanzira-acquitted-of-all-charges/">Supa Mandiwanzira Acquitted Of All Charges</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/07/26/pictures-charges-minister-prisca-mupfumira-faces/">PICTURES: Charges Minister Prisca Mupfumira Faces</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2019/11/04/full-text-charges-against-former-transport-minister-joram-gumbo/">FULL TEXT: Charges Against Former Transport Minister Joram Gumbo</a></li>
<li class="entry-title"><a href="https://news.pindula.co.zw/2018/10/25/prison-officer-charged-with-undermining-mnangagwa-after-attending-chamisa-rally/">Prison Officer Charged With Undermining Mnangagwa After Attending Chamisa Rally -2018</a></li>
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More: <a href="https://news.pindula.co.zw/">Pindula News</a>; <a href="https://www.zimlive.com/2021/05/22/arrest-warrant-issued-for-mupfumira-even-as-prosecutors-cleared-her-to-travel/">ZimLive</a>

Warrant Of Arrest For Former Tourism Minister Mupfumira

Well placed sources inside the country’s anti-graft body ZACC have revealed that a relative of former Minister Petronella Kagonye has been shielding her from prosecution after she allegedly siphoned $400 000 from NSSA to her election campaign in 2018, The Standard reports.
The case was reportedly opened 2 years ago and ZACC has reportedly been sitting on it since then. A source privy to the issue told the publication that:
<blockquote>A case of abuse of office when she was Labour minister was opened with Zacc, but because she has a relative linked to the husband (name supplied), it has been difficult to pursue this issue.</blockquote>
When ZACC was asked for comment, John Makamure said he needed more time to look into the issue.
Kagonye’s alleged siphoned US$200 000 to a disability conference in her Caledonia constituency and a further US$200 000 to a school in Ruwa just before the July 2018 elections.
Kagonye is also being investigated for allegedly ordering that Lameck Danga be appointed the National Building Society NBS CEO boss, despite coming second during the job interviews.
Kagonye was arrested by <a href="https://news.pindula.co.zw/2021/02/07/just-in-former-cabinet-minister-petronella-kagonye-arrested/">President Mnangagwa’s SACU</a> last week before she was released on $30 000 bail a day later.
More: <a href="https://www.thestandard.co.zw/">The Standard </a>

ZACC Had Been Sitting On Petronella Kagonye's Case For 2 Years - Report

The Minister of Labour and Social Welfare, Paul Mavima has with immediate effect dissolved the National Social Security Authority (NSSA) Board. Below is the statement announcing the dissolution.
<blockquote>DISSOLUTION OF THE NATIONAL SOCIAL SECURITY AUTHORITY (NSSA) BOARD
The National Social Security Authority (NSSA) is currently engaged in a strategic reorganisation and restructuring exercise which has been necessitated by the need to respond to emerging issues in the world of work and align its mandate with the national development agenda. Accordingly, the NSSA Board has been dissolved with immediate effect to pave way for this transformation.
The Ministry of Public Service Labour and Social Welfare wishes to express its most sincere gratitude to members of the outgoing Board for their contribution to NSSA during their term of office. In the meantime, a three-member Interim Board will oversee the administration of the Authority will be constituted within three months.
 
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/El53qGRWMAIlSJn?format=jpg&amp;name=900x900"/></blockquote>

Labour Minister Dissolves NSSA Board Effective Immediately

A report by NSSA has said since 2017, there has been a 20% increase in employment between 2017 and August 2020, Sunday News reports.
Data extracted from the National Social Security Authority (NSSA) reports show that:
<blockquote>
<ul>
<li>Jobs were created in agriculture (41 percent) construction (40 percent) and the energy sector (37percent).</li>
<li>Formal employment figures increased from 1 083 823 in 2017 to 1 296 396 as of August this year.</li>
<li>Retrenchments are also on the decline and thus while 4 493 workers were laid off in 2017, 1 668 lost their jobs in 2018 and 1 461 in 2019 according to the Retrenchment Board.</li>
</ul>
</blockquote>
While speaking during a Post Cabinet briefing yesterday Infomation Minister Monica Mutsvangwa said:
<blockquote>The Government, with support from the International Labour Organisation (ILO), is implementing two major projects since 2017. These two are the Empowerment for Women and Youth Project (E4WAY) in Zimbabwe and the Green Enterprise Innovation and Development Project, which are meant to economically empower women and youths.</blockquote>
Experts, however, said the ongoing pandemic would <a href="https://news.pindula.co.zw/2020/04/17/lockdown-to-wipe-out-75-informal-25-formal-jobs-in-zimbabwe-report/">affect at least 25% of formal jobs in 2020. </a>
More: <a href="https://www.sundaynews.co.zw/20-increase-in-jobs-from-2017/">Sunday News </a>

20% Increase In Employment Since The Advent Of The Second Republic - NSSA

30 ZBC staffers have reportedly tested positive for COVID-19 and they are all currently isolated at home. This was revealed by the broadcaster in a statement that said they were following WHO guidelines on using PPE and disinfecting premises and carrying out periodic testing.
The news was further confirmed by Infomation Ministry Secretary Nick Mangwana who said:
<blockquote>We wish all ZBC staff members who tested positive a quick recovery. We are comforted in that of the 30 who are positive, only five are showing mild symptoms and the rest are asymptomatic. We have always said media staff are frontline workers. These results attest to that.</blockquote>
Many companies and organisations including NSSA and The Parliament Of Zimbabwe have recorded cases of COVID-19 which prompted them to temporarily halt operations because of the positive cases.
More: <a href="https://www.3-mob.com/news/30-zbc-employees-test-positive-for-covid-19/#.XzLWoigzbIU">3MOB</a>

COVID-19 Hits ZBC, 30 Employees Test Positive For The Virus

A number of companies have in the recent past closed their premises over the coronavirus pandemic. Some of them are Econet Wireless, the Environmental Management Agency (EMA), OK Norton and the National Social Security Authority (NSSA).
We present below NSSA’s statement of the temporary closure of NSSA House.
<blockquote>NSSA management wishes to advise stakeholders of the temporary closure of NSSA House in Harare with effect from Monday 27 July 2020 to allow for deep cleaning and decontamination following the incidence of a positive COVID-19 test for one of our employees. This decision was taken in compliance with Section 6 at Statutory instrument 174 of 2020. Public Health (COV10-19 Prevention, Containment and Treatment) (Notional Lockdown) (Amendment) Order. 2020 (No. 14). The affected employee was lost at NSSA House on the 10th of July 2020 due to the implementation of a decongestion programme that has seen the Authority operating at one-third of its staff complement. Management has however resolved to implement the necessary precautionary measures.
The Authority is also conducting contact tracing to facilitate testing for individuals who may have been in contact with the affected employee. All other NSSA offices are safe and Shut continue to operate under the Ministry Of Health and Child Care COVID-I9 guidelines. We sincerely apologise for any inconveniences caused by the temporary Closure. Stakeholders shall be kept informed Of the situation via various media channels. including our darted media platforms @nssazw on Facebook and on Twitter. as well as our website: www.nssn.org.zw.
Issued on 26 July 2020:
Tendai Mutseyekwa
Marketing and Communications Executive
<img alt="Image" decoding="async" src="https://pbs.twimg.com/media/Ed52WdWXkAA1RIU?format=jpg&amp;name=small"/></blockquote>

Temporary Closure Of NSSA House, OK Norton, Over COVID-19

The government is setting up a National Unemployment Benefit Scheme, a fund which will benefit workers who are temporarily out of employment, a cabinet minister has said.
Speaking to The Sunday Mail, Public Service, Labour and Social Welfare Minister Professor Paul Mavima revealed that the fund will be supported by the workers themselves, employers and Government. He said:
<blockquote>The idea is to have a fund that is supported by the workers themselves, employers and Government to support workers who are temporarily out of employment.
… We want to create a savings scheme where we all make contributions so that during tough times people who lose their jobs can find relief. We do not want people to be forced into a situation where they spend the little savings they have made.
As you know, these things require legislation and this takes a bit of time. But we have already started drafting a blueprint and we expect the legislation to be tabled in Parliament during the next session.</blockquote>
National Social Security Authority (NSSA) acting general manager Arthur Manase confirmed that the government recently tasked them with crafting a concept paper to assess the feasibility of setting up the scheme.
Currently, Government offers workers two mandatory social security schemes under NSSA.
Firstly, the National Pension Scheme (NPS), which supports retirees above the age of 60; and secondly, the Workers Compensation Insurance Fund (WCIF) for workers injured or killed in work-related accidents or suffer from work-related diseases.
<h4>More: <a href="https://www.sundaymail.co.zw/unemployment-benefit-scheme-in-pipeline" rel="noopener noreferrer" target="_blank">The Sunday Mail</a></h4>

Govt Mulls Scheme To Benefit Laid-off Workers

NSSA has reportedly fired the Authority’s Investment manager Richard Fusire after it emerged that he ill-advised NSSA to invest in $6 million high-risk investment, ZBC News reports.
Fusire is also accused of authorising the payment of over US$1,4 million in a housing project in Chinhoyi which is yet to commence up to this day, without following NSSA’s proper investment market analysis.
According to the publication:
<blockquote>Fusire who was employed as an investment analyst, acted contrary to the NSSA risk policy and sanctioned investments of US$6 million with the Metbank that did not meet the authority’s criteria because its credit rating was despicable.
The investments into Metbank were against the NSSA risk policy as the authority’s investments committee’s Counter Party Limits Report graded Metbank as a high-risk financial institution and recommended against any future transactions with it due to its failure to meet the credit criteria required by the authority.
Despite the risk, Fusire advised the authority and entered into a loan facility agreement with Metbank resulting in the authority extending the US$6 million to the bank.</blockquote>
Fusire was hauled before NSSA’s disciplinary committee which recommended that he be let go after they decided his decisions were detrimental to the organisation.
More: <a href="https://www.zbcnews.co.zw/nssa-fires-investment-manager-for-misconduct/">ZBC News </a>

NSSA Investment Manager Fired For Misconduct

National Social Security Authority has reviewed upwards pension contributions payable by both workers and companies from 7% to 9%, The Chronicle reports.
The adjustments are a result of an SI 108 and 109 that was gazetted on 15 May. A statement from NSSA announcing the adjustment reads:
<blockquote>Following the gazetting of statutory instrument (SI) 108 and 109 of the 15th of May 2020 pertaining to a review of NSSA contribution rates and maximum pensionable salary, the Authority wishes to advise employers that these adjustments will be effective from 1 June 2020.
The contribution rate will go up to nine from seven percent, while the maximum pensionable salary will go up from $700 to $5 000.
All pensions on the payroll as at 1st October, 2019, in terms of this Scheme shall be increased by 200 percent with effect from the appointed date. Any pensions that are lower than the minimums stated in this section after applying the 200 increase, shall be increased to the minimum set for the category in terms of section 5</blockquote>
The Chronicle said the document also states that:
<ul>
<li> The minimum monthly retirement pension is pegged at $240</li>
<li>Children and dependants are expected to get $30 and $53,33</li>
<li>All widowers or widows will get $160</li>
</ul>
More: <a href="https://www.chronicle.co.zw/nssa-reviews-contributions/">The Chronicle</a>

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