M a r k e t N e w s

Tanzania: NSSF All Set to Construct Modern Hospital in Dar

Posted on : Tuesday, 25th October 2016

 Arusha — The National Social Security Fund (NSSF) has unveiled a catalogue of major investments it plans to execute in the near future.

But the fund says it is facing some challenges, which may affect the implementation of the investments, including high defaulters on loans and rent.
The NSSF director general, Mr Godius Kahyarara, told the stakeholders' conference here last week that although this time around the fund is turning to industrial investments to stimulate production, they were still to address some problems because their funds are tied in non-earning investments.
Other challenges include untimely payment of members' contributions by their employers and limited investment avenues.
"As we strive to invest more on industries, we are looking for positive ideas, discussions, advice and recommendations from stakeholders," Prof Kahyarara said.
He noted that NSSF was committed to invest in industrial projects and hence create more jobs in response to a recent directive by President John Pombe Magufuli's to the social security institutions.
However, he said the government should assist them recover their investment costs that would propel them to industrial projects by ensuring timely remission of members' contributions to the social security institutions and higher penalties to rent and loan defaulters, which include public institutions.
But in a quick response, Prime Minister Kassim Majaliwa, who opened the meeting, said the government has paid Sh722.7 billion out of an accumulated total of nearly a trillion shillings being unpaid pension fund contributions by members in the public sector.
However, it emerged that NSSF is still owed billions of money by defaulting public institutions and individuals who have rented its office accommodation buildings and residential flats.
Prof Kahyarara informed the meeting at the Arusha International Conference Centre (AICC) that the fund has finalised plans to construct a state-of-art hospital at Kinondoni in Dar es Salaam.
The proposed NSSF hospital would offer a range of services and hence reduce the number of people taken abroad for specialised treatment. He did not reveal the cost of the proposed medical facility.
"The hospital will provide high quality health services in Tanzania," he explained, citing them as consultations, laboratory services, internal medicine, cardio-vascular surgery, onco-hematology, in-vitro fertilization (IVF) and others. Another health related investment is a Sh 3.1 billion loan recently extended by the fund to the Kibaha-based Tanzania Biolarvicides Limited to enable the plant to increase production of chemicals used for vector control, specifically targeting mosquitoes.
The plant under the National Development Corporation (NDC), was constructed at the cost of Sh5 billion to boost the fight against malaria.

Source : allafrica.com
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