Kazongo promises growth at NSSF

May 27, 2009 12:00 am

, NAIROBI, Kenya, May 27 – The newly appointed National Social Security Fund (NSSF) Managing Trustee, Alex Kazongo, took over office on Wednesday with a promise to grow the fund by close to 70 percent in the next three years.

Addressing his first press conference in the office, Mr Kazongo said his priority was to grow the controversial Sh90 billion pension fund to a Sh150 billion scheme.

“We are also going to ensure that we have new members. There are people out there who don’t even know that NSSF exists and they should be members and this is where we are going to convert it into an insurance scheme which is going to be very competitive,” Mr Kazongo said.

He said it was possible to transform NSSF into a trillion shilling economic pillar through good management and wise investment.

 “We are also going to embrace the informal sector so that they become part of our membership and that can grow the fund by close to 30 percent,” he added.

Mr Kazongo said he would also work to ensure NSSF was corruption free.

“I have got a lot of private sector experience and lots of public sector experience at the same time. But I think it is the skills that I have that will enable me do this. We want an era of transparency and we have started it today,” he said.

He also promised to ensure there was staff motivation and regular communication with other partners like the Federation of Kenyan Employers and the Central Organisation of Trade Unions (COTU).

“Our staff are not motivated and they are the ones who deliver the goods so I need to ensure they are (motivated),” Mr Kazongo said.

The new NSSF boss was appointed on Monday by Labour Minister John Munyes after he emerged the best candidate from a short-list of three applicants.
Mr Kazongo, a former Kenya Ports Authority (KPA) financial controller replaced Rachael Lumbasyo who was sacked last year over allegations of misappropriation of funds.

NSSF has had at least three Managing Trustees axed during Mr Munyes’ tenure at the Labour Ministry, including Fred Rabongo, James Akoya and Albert Odero.


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