NSSA gets new general manager
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