NAPSA says its K7.1bn property portfolio has created over 2,000 jobs
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Zambia's National Pension Scheme Authority says its real estate portfolio, valued at about K7.1 billion, has helped create roughly 2,000 jobs while expanding housing and commercial trading space.
The National Pension Scheme Authority (NAPSA) says its real estate investment portfolio, valued at about K7.1 billion, has contributed to the creation of approximately 2,000 jobs while expanding access to housing and commercial trading spaces, the Zambian Business Times reports.
NAPSA chief executive officer Muyangwa Muyangwa said the authority's property investments include residential developments, shopping facilities and other commercial properties designed to generate returns for pension contributors. Speaking at a media workshop in Siavonga, he said the portfolio currently includes about 700 housing units and 140 trading spaces, providing opportunities for both residential occupation and businesses.
Among the facilities owned or invested in by NAPSA are ECL Mall, Northgate Gardens and Lilayi Estates. Muyangwa said the developments have also contributed to economic activity through jobs created directly and indirectly across the properties and the businesses operating from the facilities.
He said investment in property remains important in ensuring that pension funds are placed in productive assets while contributing to national development, and that the authority would continue to explore investment opportunities that can provide sustainable returns while supporting economic activity.
The investments in residential and commercial property also demonstrate the role pension funds can play beyond providing retirement benefits, particularly through long-term investments in productive sectors of the economy.