via Nssa rotates bosses | The Sunday Mail 31/01/2016
Brian Chitemba
Investigations Editor
THE National Social Security Authority (Nssa) will from April 1, 2016 start periodically rotating its regional managers in a bid to plug holes that may fuel underhand dealings and increase transparency, the board chairman Mr Robin Vela has said.
Nssa has long been stalked by corruption allegations and in October 2015; Mr James Matiza (general manager), Shadreck Vera (investment director), Patrick Mupani (finance director), Tendai Mafunda (corporate services director), and Bright Chidyagwai (ICT director) were relieved of their duties over allegations of gross incompetence and abuse of funds.
Mr Vela said his board resolved that all the regional managers would be rotated regularly to increase service delivery and accountability.
He added that Nssa has concluded retrenchment negotiations with the fired managers and the pensions authority will now demand repayment of what it is owed and a return of its assets
He said,“ In October 2015, the board begun a restructuring exercise to improve corporate governance, reduce operational costs, improve service delivery, accountability and deliver a higher return on worker’s contributions together with a living pension. The exercise, which started with the retrenchment of five senior managers, remains on course.
“In order to further enhance service delivery, some regional managers will be rotated from their current area with effect from 1 April, 2016.”
Mr Vela said Nssa had since started scouting for a new general manager (chief executive officer), chief financial officer and chief investment officer to replace the fired ones.
An international and local professional executive recruitment agency is helping to identify and select Zimbabwean qualified professionals with relevant experience in the field of investment, pension and social security management.
The new appointments are expected to be announced within the first quarter of 2016.
Mr Vela said the Nssa board is saddened by the historic poor investments that saw the authority squandering over US$100 million through buying overpriced properties and shares in troubled companies.
The parastatal has since engaged an investment expert, Mr Fungai Ruwende, who will be working closely with the investment committee to ensure sound investments.
“All decisions of the Investment Committee that do not carry the investment expert’s favourable opinion will be explained in writing,” noted Mr Vela.
He said that the board is in the process of analysing findings of the various audits carried our prior to and during its term of appointment after which it will present its recommendations to Labour, Public Service and Social Welfare Minister, Cde Prisca Mupfumira before the end of the second quarter of this year.
Mr Vela added that his board is already implementing some of the recommendations of the audits.
The Nssa audit which was carried out by Deliotte and Touche unearthed various irregularities under the old management which was led by Mr Matiza.
“The board will continue to monitor the performance of the investee company boards, demanding greater transparency and accountability and using our shareholder rights, the authority will institute changes to under-performing boards and senior management,” he said.
“Shortly after its appointment, the board, assisted by an international audit firm, began a comprehensive exercise to verify all assets and confirm the balance sheet figures of the Authority. This included an exercise to officially document all property and land transactions and confirm availability of documents like sale agreements, payment confirmations and title deeds.”
He said Nssa also made a bonus payment of US$45 per pensioner in December 2015, on top of the usual US$60 monthly payout.
However, pensioners have been complaining over the US$60 monthly payouts. They argue that the payout are meagre when considering the cost of living.
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