Lazarus Sauti

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Pension funds stimulate development

December 01, 2020

Lazarus Sauti NATIONAL Social Security Authority (NSSA) Chief Investments Officer, Isaac Is aki said pension funds are driving investments and stimulating sustainable socio-economic development in Zimbabwe. He added that his organisation’s investment portfolio is valued at ZWL$30.48 billion and spread across a wide spectrum of asset classes and industries shares, including equities, properties, offshore investments, and fixed income. “The Authority has a diverse property portfolio comprising industrial, commercial (retail, offices, and mixed-use), residential, medical facilities and land banks earmarked for future development,” Isaki said. He further said these properties are 110 in total and they include NSSA House, Celestial Park, Social Security Centre, Pomona Shopping Centre, Bindura Shopping Centre, Chipinge Shopping Centre, Ekusileni Hospital, Beitbridge Hotel, and Compensation houses across the country. “NSSA is one of the largest portfolios investing on the Zi

People-centred development tonic to Zim’s transformation

November 25, 2020

Lazarus Sauti IN his book, The Governance of China III, Chinese President Xi Jinping said the people were the greatest strength to governance, the creators of history, and the fundamental force for determining the future of the country. He also said the Chinese government came from the people, had its roots in the people and served the people. “People are a vital force in championing development. We are, therefore, addressing the most pressing issues essential to our people’s immediate interests to stimulate and achieve political, economic, socio-cultural, and eco-environmental development,” Jinping said. “We always put our people first, base our efforts on their interests, listen to them, draw on their wisdom, and ensure the principal status of Chinese.” China has lifted over 700 million of its citizens from poverty because of its people-centred developmental programmes. As the Zimbabwean government is pushing towards attaining an upper-middle income economy by 2030, it

COVID-19 and life assurance: global threat, new opportunities

November 25, 2020

Lazarus Sauti THE global COVID-19 pandemic and the ensuing instability in market conditions are affecting the life assurance sector in Zimbabwe and other countries. Given the uncertainty that exists in these unique times, life assurers are facing both short-term and long-term challenges to sustain business continuity and profitability, a fact supported by the Insurance and Pensions Commission (IPEC) commissioner, Grace Muradzikwa. “The COVID-19 pandemic has not only reduced the uptake of insurance products, but it has also increased expenditure to capacitate employees from working from home,” Muradzikwa said. She added that the COVID-19 crisis has affected the 12 registered life assurance entities in the country. Life Offices Association of Zimbabwe member, Reginald Chihota also said the life assurance sector in Zimbabwe has seen a drop in business because of the COVID-19 pandemic situation. “The drop was caused by the continuous erosion of disposable incomes of peop

NSSA reaching out to the vulnerable

November 19, 2020

Lazarus Sauti BRITISH entrepreneur, human rights activist, and environmental campaigner, Anita Roddick said the business of business should not be about money, but about responsibility. She added that the business of business should be about public good, not private greed. Motivated by Roddick’s sentiments, the National Social Security Authority (NSSA) – the statutory corporate body tasked by the government of Zimbabwe to provide social security to Zimbabweans – is showing that its business is not about money but responsibility. Constituted and established in terms of the NSSA Act of 1989 [Chapter 17:04], the organisation is showing empathy, leadership, and responsibility through its Corporate Social Responsibility (CSR) – a concept based on integrating socio-economic, ethical and environmental concerns in business operations. In 2018, for instance, NSSA launched Project Dzimba, a responsibility initiative aimed at providing homes suitable for paraplegics and quadriplegic pen

COVID-19 shredded Zim culture, funeral assurance sector

November 17, 2020

Lazarus Sauti “I was in Nairobi, Kenya, when my father died. Due to the COVID-19 induced travel restrictions, I could not attend the funeral wake to pay my last respects,” said Martin Rupfunde. “Culturally, I was supposed to be at my old man’s funeral to honour him and perform certain cultural rites as dictated by our beliefs. Unfortunately, COVID-19 robbed me of the chance to travel back to Rupfunde, a village in Buhera North in the Manicaland Province of Zimbabwe, to give my father, a firm believer of our Shona culture, a fitting funeral,” he said. “I was grieving alone, a difficult and abnormal feature of bereavement.” Rupfunde said his father was buried within hours in line with COVID-19 health guidelines. This robbed relatives and friends of a chance to grieve together as well as console each other. “ Mdara (old man) was buried like a dog. Imagine! Because of social distancing rules, less than 50 people, mostly family members, attended his funeral to extend their symp

Agric insurance brings stability to farmers

November 17, 2020

Lazarus Sauti EVERY time climate-induced drought wrecks Zimbabwe, the media is saturated with pictures of wilting crops and dry pastures strewn with carcasses of livestock. These pictures confirm that climate change is real and farmers are losing their crops and livestock. Armyworms invasions, pests, and diseases are further compounding the problem for farmers, especially smallholder ones who contribute over two-thirds of the total agricultural output in the country. Unfortunately, they are more vulnerable to climate risks since they do not have the resources to take preventive measures or absorb shocks. “Rainfall variability, harsh weather conditions, and chronic droughts have badly affected most families here in Hwedza,” said Sarah Makoni, a smallholder farmer in Gonese, a village in Hwedza District in Mashonaland East Province of Zimbabwe. She added that most smallholder farmers in her area, just like others in semi-arid provinces such as Manicaland, Masvingo, Mashonal