NAPSA says it has constructed a total of 1, 074 low, medium and high-cost housing units in Lusaka and Kalulushi at a cost of about K591 million since 2008.
And NAPSA says all the housing units have been sold, except for 48 which have just been placed on offer to prospective buyers.
Meanwhile, when asked about published photographs depicting some NAPSA houses with falling roofs due to non-maintenance, head of corporate affairs Cephas Sinyangwe said some of the referenced photographs depicted properties that did not belong to NAPSA.
“NAPSA has constructed 306 housing units at Nyumba Yanga Housing Project in Lusaka. The project was undertaken between 2008 and 2013. At Northgate Gardens, NAPSA constructed 316 housing units from 2011 to 2015. A total of 438 housing units were constructed in Kalulushi at Kalulushi Housing Project. The project was done between 2010 and 2013. NAPSA constructed further 14 high-rise flats at Ibex Hill Gardens in Lusaka from 2010 to 2012. The above-stated housing units comprise low, medium and high-cost types to cater for different categories of purchasers. The total cost for the above-listed housing projects is about K591 Million,” Sinyangwe said.
He said it was not unusual for a pension scheme to invest in housing project.
“It is not unusual for a pension scheme to invest in construction of houses. The housing projects stated above are part of NAPSA’s investment portfolio under the real estate asset class. This is in line with the Authority’s investment guidelines which allows this asset class, among other classes namely Fixed Term Deposits, Infrastructure, Government Bonds, Treasury Bills, Listed and Private Equity, Corporate Bonds to mention but a few. All the asset classes are aimed at growing the members’ funds and realizing a return to meet benefit obligations as and when they fall due. The total cost for the above-listed housing projects is about K591 million,” Sinyangwe said.
“All the housing units have been sold, with most of them fully paid for and occupied, some partially paid for and the few remaining (30 in Northgate and 18 in Kalulushi) are already under offer to prospective buyers.”
On the houses with falling roofs, he said they did not belong to NAPSA.
“Some of the referenced photographs depict properties that do not belong to NAPSA. There are a number of institutions that have constructed houses in close proximity to the NAPSA housing complex and these are sometimes mistaken for NAPSA houses. Most of the NAPSA houses have been sold off and handed over to the purchasers. It is the responsibility of the new house owners to look after their properties once they are handed over to them. For the few houses which have not yet been handed over, NAPSA provides security 24/7. There is also a cleaning company that is engaged to ensure that houses are kept in acceptable state at all time,” Sinyangwe said.
He added that the authority would this year embark on a project to construct low cost housing units across the country, starting with Solwezi, Chitambo and Chinsali.
“The Authority will this year, 2020, embark on construction of low-cost housing units across the country starting with Solwezi (100 units), Chitambo (50 units) and Chinsali (50 units) aimed at growing member’s funds and supplementing government’s efforts in meeting the housing deficit, which is currently standing at above three million housing units,” Sinyangwe said.
On the pensioners that have been protesting the delayed benefits, he said the authority had never failed to pay its pensioners as those protesting at the Ministry of Justice did not belong to NAPSA.
“NAPSA does not fail to pay its pensioners. There are no pensioners under NAPSA who are protesting for non-payment of the retirement benefits. The pensioners being referred to [as depicted in some video clips that have come to our attention] do not belong to NAPSA, but to other pension schemes in the country. NAPSA is a liquid institution capable of meeting all its pension obligations on time. The institution is currently supporting the financial sector in Zambia by making funds available to financial players at affordable rates. The Authority accounts for about 20 per cent of the total bank deposits in the country,” said Sinyangwe.