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NewsDay

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NSSA explores new players for $30m Beitbridge hotel

Business
THE National Social Security Authority (NSSA) is in discussions with a number of players on possible options to turn its $30 million Beitbridge hotel into a viable investment, an executive has said.

THE National Social Security Authority (NSSA) is in discussions with a number of players on possible options to turn its $30 million Beitbridge hotel into a viable investment, an executive has said.

BY MTHANDAZO NYONI

The hotel was closed by the Rainbow Tourism Group (RTG) last year.

NSSA has been leasing the hotel to RTG since its opening in January 2014, but the hotelier pulled out after it accumulated losses of over $2 million in the 29 months it operated.

It was the second major hotel in the border town to shut down last year, after African Sun also closed its Beitbridge Express Hotel in January of the same year, citing prolonged losses at the 140-roomed hotel.

NSSA general manager, Elizabeth Chitiga told NewsDay the pension scheme was considering a number of options on the table to make the hotel a viable project.

“Options under consideration include redevelopment of the hotel into conference rooms, retail shops, offices and long term accommodation by converting some of the rooms into one-bedroom flats. The public will be updated as and when significant developments materialise,” she said.

NSSA blames the previous administration, led by then general manager, James Matiza, for embarking on the unviable project.

Matiza was fired in 2015 together with four other managers.

Meanwhile, Chitiga said NSSA has introduced more convenient and low-cost payment platforms such as mobile money for the ease of its pensioners.

“More payment channels will be introduced during the course of the year. Ultimately, it is the beneficiaries’ right to select payment platform of their choice,” she said.

Chitiga said the authority was mindful of the need to adhere to the recommended International Labour Organisation guidelines on cost ratios.

“We will ensure that NSSA becomes a well-managed fund in line with best practice for the benefit of the pensioner,” she said.