Economist Notulu Salwindi has raised concerns about the National Pension Scheme Authority – NAPSA’s investment decisions, particularly the purchase of the condemned Society Business Park. Salwindi has emphasized the need for NAPSA to prioritize prudent utilization of the funds entrusted to them, stressing that it is essential to remember that they are managing the people’s money.
Reacting to the recent reports of the imminent demolition of the Society Business Park which was recently acquired by NAPSA from the Zambia National Building Society (ZNBS), Salwindi stated that NAPSA must not forget that they are dealing with the people’s funds and prudent utilization is a necessity. Salwindi said expert advice should guide NAPSA’s investment endeavors, as the responsibility of managing public funds should not be taken lightly.
He suggested that the Society Business Park debacle could have been prevented if NAPSA had heeded expert advice on the matter.
Salwindi underscored the importance of accountability in such situations, stating that taking action against those responsible for investment mishaps could lead to positive change. He stressed the need for individuals in positions of authority to uphold proper procedures and ensure accountability for their actions.
“The problem we have in our Country is that there will be no one to take responsibility or get fired, but ideally if we started taking action against people that are responsible for some of these mishaps we would see a lot of change, that means each one of us when we are operating in our respective offices we would see to it that proper procedures and ensure that if anything was to happen whilst we are holding these positions we are held accountable,” he said.
“It’s not NAPSA management or Government money it is the people’s money, we that contribute that money therefore when they are doing investments at the back of the mind it should sit at the back of the mind that this is someone’s money, the same way as an individual you would go to someone to invest your money on a project, the same scrutiny put into such an endeavor, is the same the way that we should take interest in decisions made by Companies that keep people’s money,” he said.
Salwindi charged that the Society Business Park debacle could have been avoided if they had listened to expert advice on the matter.
