THE National Pension Scheme Authority (NAPSA) has given a 100 per cent three-month waiver to tenants that were closed in line with Ministry of Health guidelines and 40 per cent to those that are still operating.
The waiver is effective April 1, 2020, and will run up to June 30, 2020.
In a statement, Tuesday, NAPSA Director General Yollard Kachinda explained that the waiver was for both commercial and residential customers.
“NAPSA has granted relief on rentals to all tenants in its commercial and residential properties across the country. This is to help mitigate the negative impact of the COVID-19 on various businesses that have already been adversely affected. The Authority has given 40 per cent waiver on monthly rentals for properties that have remained trading during the COVID-19, while those that were closed in line with Ministry of Health guidelines have been given a 100 per cent waiver. The three-month waiver for all tenants is effective April 1, 2020, and will run up to June 30, 2020,” Kachinda said in a statement availed by NAPSA head of corporate affairs Cephas Sinyangwe.
“The year, 2020, began on a rather shaky note with the global outbreak of the COVID-19 pandemic, which has devastated the global economy. The Zambian economy has not been spared and the impact of the pandemic is being felt across all sectors. As a major player in this economy, we understand how difficult business has been in the last few months. Therefore, we have found it necessary to provide some relief to our tenants across the country through this waiver.”
Kachinda added that waiver was necessary to stimulate business growth.
“We would like to thank the Board for approving this waiver, which will go a long way in sustaining businesses, thereby preserving jobs and avoiding masses falling into untold misery,” stated Kachinda.
Last year, NAPSA management gave relief to some tenants by not increasing rentals for this year following a tough business environment experienced in 2019.