FINANCE and Economic Development minister, Mthuli Ncube last week told us that government intends to create a new pension fund independent of the existing National Social Security Authority (Nssa).
The minister specifically said: “We are going to launch a government pension fund … in the last quarter… Certainly, we won’t give it to Nssa. We will find someone else … we are worried about Nssa doing the right thing.”
Holy smoke! And may God, Allah and the gods indeed help us on this issue.
Why is government intending to take all the trouble to create a duplicate of Nssa?
Why does Ncube speak as if Nssa is some autonomous being that functions independent of systems that are directed by people?
Is Nssa now beyond the control of government?
What will happen to all the huge monies that Nssa is managing and also allowing to be looted left, right and centre?
Logic tells us that if President Emmerson Mnangagwa’s regime is serious about doing the right thing in terms of correcting governance issues in not only Nssa,
but in all the State enterprises, then it should clean-up these institutions and insist that those running them are held to account; failure which they should
simply be replaced by more competent individuals.
In dumping Nssa and opting for another organisation that will duplicate Nssa’s work is like a parent who disowns their problem child and adopts another from next door.
Is Nssa beyond redemption?
If it is, what exactly is the problem at Nssa?
Are there no capable hands within and without who can rehabilitate Nssa to do the right things?
By creating a twin to Nssa, is there any guarantee that the new creation will do things any better?
There are so many questions that beg answers regarding the Zimbabwe government-run pension fund.
It is arguably the country’s biggest and most liquid State enterprise capable of funding big investments in mining, agriculture, tourism and industry, but it is probably the worst administered to an extent that vultures have had a field day over the years looting the free-flowing funds.
It would be more prudent for Ncube and friends to insist that Nssa be overhauled through a root and branch shake-up.
They should not exasperatedly throw their arms in the air and disown Nssa. That institution must be reworked for it to optimally function for the benefit of all the country’s workers who have toiled to sustain it. And it is government’s duty that Nssa functions properly in carrying out its mandate.