NKOLE MULAMBIA, Ndola
NATIONAL Pension Scheme Authority (NAPSA) says the fund has grown to K18 billion as at May 2017 and most of it invested in the local economy.

The authority has also revised its investment guidelines to place more funds in small- and medium-scale enterprises (SMEs), energy, capital markets and road infrastructure.
NAPSA director general Yollard Kachinda said the fund has grown over the years and is still growing to support economic activities.
“The fund, as at end of May, stands at K18 billion and all that amount is invested in the local economy. We have invested in 16 companies on Lusaka Securities Exchange.
“We want this money to work in real economy and contribute to growth. We will also go into energy and private equity and our investment portfolio will also anchor into the Seventh National Development Plan that President Lungu recently launched,” he said.
The authority has pumped part of the K18 billion in government bonds at 29 percent, fixed deposits at 22 percent, treasury bills at 21 percent and real estate at 19 percent.
Others are equity and shares at 10 percent and corporate bonds at one percent.
With an expanded portfolio on investment guidelines, the authority will invest in other sectors that were previously not included.
Mr Kachinda said two percent of the investment portfolio will go towards funding SMEs while 15 percent of the fund will go towards infrastructure development.
The first one is a contract agreement, which was recently signed with Road Development Agency (RDA) worth K2.2 billion to finance completion of Ndola-Kitwe and Kitwe-Chingola roads.
The authority has also identified certain categories such as domestic workers, bus and taxi drivers and sawmillers who are currently being captured countrywide so that they are entitled to social security protection.
Mr Kachinda, however, said the authority is facing a huge challenge of providing social security protection to the informal sector and efforts are being made to ensure that more benefit from the scheme.