NSSA gets new gen­eral man­ager

Chronicle (Zimbabwe) - - Business - Harare Burea

THE National So­cial Se­cu­rity Author­ity has ap­pointed for­mer Min­er­als Mar­ket­ing Cor­po­ra­tion of Zim­babwe chief ex­ec­u­tive El­iz­a­beth Chit­iga as sub­stan­tive gen­eral man­ager on a fixed three term re­new­able con­tract, set­ting the stage for re­view of op­er­a­tions.

NSSA chair­man Robin Vela made the an­nounce­ment at a Press brief­ing in Harare yes­ter­day, in the pres­ence of Pub­lic Ser­vice Labour and So­cial Wel­fare Min­is­ter Prisca Mup­fu­mira, dur­ing which he also an­nounced the ap­point­ment of five other new ex­ec­u­tives.

“Sea­soned busi­ness ex­ec­u­tive El­iz­a­beth Chit­iga (gen­eral man­ager/chief ex­ec­u­tive) will lead the new-look man­age­ment team of eight (three of which were al­ready in the NSSA struc­tures),” he said.

Mr Vela said the new GM is a re­spected busi­ness leader glob­ally. He said the GM’s fixed three year term of of­fice has pro­ba­tion, is per­for­mance based, con­tains key ar­eas of re­spon­si­bil­ity and is re­new­able. Ms Chit­iga takes over from sacked James Ma­tiza. Other newly ap­pointed se­nior ex­ec­u­tives are Emer­son Mung­wariri — chief fi­nance and op­er­a­tions officer, Chikuni Mutiswa — chief strate­gic as­sets officer, Kura Chi­hota — chief prop­erty in­vest­ment officer and He­bert Hungwe — chief in­vest­ment officer.

The new GM be­gan her ca­reer as an economist with the Re­serve Bank of Zim­babwe, lat­ter join­ing the MMCZ and ris­ing through the ranks to be­come the CEO of the min­eral mar­ket­ing cor­po­ra­tion.

Ms Chit­iga holds a de­grees in Busi­ness Ad­min­is­tra­tion, Ap­plied Sciences (com­puter sci­ence), went through the ad­vanced man­age­ment pro­gramme at Har­vard Busi­ness School and served on and chaired boards of sev­eral pri­vate and pub­lic sec­tor en­ti­ties.

Mr Vela said fol­low­ing the ap­point­ment of Ms Chit­iga and the five other se­nior mem­bers of the man­age­ment team, NSSA will soon go on a re­treat to re­view op­er­a­tions and its in­vest­ment pol­icy.

“We need to re­view the in­vest­ment pol­icy (look­ing at) what we should be do­ing in terms of de­liv­er­ing on our man­date,” Mr Vela said, adding “We have sched­uled strate­gic meet­ings to take some time out for both man­age­ment and the board in a month or so.”

Al­ready, the board chair­man said, NSSA had started re­view­ing its in­vest­ment pol­icy by cre­at­ing three core ar­eas of strate­gic in­vest­ment fo­cus namely prop­er­ties, in­vest­ments and strate­gic as­sets.

Mr Vela said the board should have over­sight on all NSSA in­vest­ments, es­pe­cially amid con­cerns about the choice of the author­ity’s in­vest­ment de­ci­sions, which have not helped pen­sions. NSSA lost huge value in­vest­ment in equities and bank­ing.

One of the big­gest losses and im­pru­dent in­vest­ment was the more than $20 mil­lion the author­ity in­vested in Cap­i­tal Bank, which was even­tu­ally liq­ui­dated due to liq­uid­ity con­straints.

Fi­nance Min­is­ter Pa­trick Chi­na­masa is one of high pro­file peo­ple on record ques­tion­ing some of the in­vest­ment de­ci­sions, which at times prej­u­diced pen­sion­ers’ funds.

Mr Robin Vela

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