MINISTRY OF LABOUR AND SOCIAL SECURITY
(PRESS RELEASE)
NAPSA INCREASES INVESTMENT PORTFOLIO BY 33 BILLION IN 3 YEARS
Lusaka, 19th January, 2025…The National Pensions Scheme Authority (NAPSA) has increased
the Investment Portfolio from K54.5 Billion at the end of 2021 to K87.4 Billion by the end of 2024.
Speaking during an exit breakfast meeting of the NAPSA Board of Trustees on January 16, 2025,
Minister of Labour and Social Security Brenda Tambatamba said she was proud that the board had
immensely contributed towards transforming the institution into a beacon of excellency and
efficiency in three years.
In applauding the board of trustees, Hounourable Tambatamba said statutory boards play a crucial
role in the transformation of organizations by providing governance oversights and strategic
direction.
She said the progress made by the outgoing board, aligns with President Hakainde Hichilema’s
agenda to awaken Zambia.
“One of the notable achievement is the impressive growth of NAPSA’s investment portfolio which
has increased from K54. 5 billion at the end of 2021 to K87.4 Billion by the end of 2024, plus the
11 billion that has gone out to the payment of the partial withdraw to the owners of this funds. This
is to be celebrated, our people have never experienced such: post-independence,” The minister
said.
“This 60 percent growth is a testament of the board’s strategic vision and prudence. The
diversification into alternatives such as Lusaka- Ndola Dual carriage way and the Maamba Energy
project has not only provided substantial returns, but also contributed to the economic
transformative agenda of our Nation’s development.”
Other achievements by the board are; the operationalization of the Raddison blue Moasi-oa-Tunya resort, which is outstanding in the hospitality industry in Zambia, the closure of the provident fund
program, the introduction of the pre-retirement lump sum and the penalty waiver initiative.
Ms. Tambatamba indicated that the introduction of the pre-retirement lump sum benefits in April
2023 is a proper example of Governments dedication to empower the citizens and allow those who
are retired to invest in projects of their choice and enhance their financial security.
NAPSA Board Chairperson Shipango Muteto expressed gratitude to the minister for her
unwavering support, which pushed them towards achieving the President’s agenda.
He said the exit report submitted to the minister, will serve as a guide for the next board as it
mirrors accountability.
And NAPSA Director General Muyangwa Muyengwa said the legacy of the outgoing board should
carry on and the standards of accountability and transparency which have been set should not be
downgraded.
Issued by:
Mwaka Ndawa (Miss)
Principal Public Relations Officer.
Positive news. Fund many more capital projects, especially in value addition within agriculture and mining. We should equally look at financing solar farms. These will provide immediate benefits to citizens while at the same time growing your portfolio.