Economy

Zaza Raises Questions Around Napsa Grand Investments

Lawyer Mcqueen Zaza has sunk his teeth in the grand investment projects that Napsa has become synonymous.

Zaza has raised questions around some of the projects have stirred controversy like the Kalulushi Housing Project.

Full posting:

We keep working hard and make our monthly contributions to NAPSA, yet we don’t bother to know how our contributions are being invested by NAPSA. Look at the Kalulushi flats and those flats near Chipata compound, was that a sound and prudent investment of our contributions by NAPSA? What gives NAPSA the right to invest our contributions in bogus investments? Who will bear the losses? Why are we very quiet on this issue?

Remember, our contributions to NAPSA is the only social security you and I have for our future. We must make NAPSA account for all the investments it has this far made and chant a way forward on how future investments will be made.

It’s time as citizens we come together and play a bigger role in the way our contributions to NAPSA should be invested . Otherwise one day, NAPSA will fail to pay our pensions one day. The money NAPSA is administering is our money not theirs therefore we have the right to make decisions over how it should be invested.

Let’s act now and secure our future.

6 Comments

  1. go on

    I see in it some senses .

    Reply
  2. sichande E

    Comment
    Yes, he is right, we need to be consulted that’s our money. I think they must some law to compel NAPSA to engage contributors to have a say to some extant. The Kalulushi project can be described in simple term as “scandal”.

    Reply
  3. Muchuu Pumulo

    Bravo Zaza
    I totally agree with your concerns. I was just reflecting on how to react on the NAPSA contribution to the Northern expo slated for this monthend of ZMW 150,000.00 before coming across your article. NAPSA management and Board are just managers the contributors’ funds and investments but the manner the funds are spent is not pleasing to the contributors are beneficiaries because some of the expenses are not beneficial to the owners of the funds, and one such example is this donation to the Expo. How much returns are expected from this investment. The funds NAPSA is proud of donating is hard earned and paid by employers who struggle to pay but because it is law and for the well being of their employees manage. NAPSA slaps penalties for late returns and payments in order to grow the members’ funds and not to be misused . If NAPSA have generated more from the members’ investments, they should increase the beneficiaries benefits other than donating activities that would not pay back. Beneficiary Survivors are failing to make ends meet because what they receive is inadequate due to the harsh economy. So, please NAPSA if there is a law that authorizes these donations should be revisited.

    Reply
  4. Rowan

    Great Article, for a very long time Zambians have been quiet with regards to monitoring the Pension scheme. We as Zambians and contributers have all the right on the knowhow of fund management which NAPSA to a certain degree is not very clear about. That is our hard earned money and all invetments must be made transparent to us. In the nearby future, I think every town should have a committee of selected employees that will be part and parcel of all the boards decisions which will then be published for all stakeholders to see. Standing as it is, NAPSA has become too comfortable thinking that’s their money, Tefintu…. Same applies to Tax payers funds which also need monitoring from independent bodies. Civil servants even looking down on you without realizing that my had earned money feeds their families.
    Boma ilanganepo! Oh wait, “Ma citizens and stakeholders” Tiyanganepo. We need to petition this!!!!!

    Reply
  5. Leon DiCaprio

    t icikwanka bacimwena kumampalanya. tefintu. personally I have never heard of a napsa member who is fine with this napsa. zoona ni twapusa, bring a napsa member. 😢😢

    Reply
  6. HH

    Come 2021 when I became a prisdent of Zambia I will sale all those houses k10 each just like back in the days

    Reply

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