Business

PSPF to set up commercial properties

TRYNESS TEMBO, Lusaka
THE Public Service Pensions Fund (PSPF) has acquired 2.5 hectares in Chinsali to put up commercial properties to make the fund economically viable.
The fund has also obtained 62 plots in Solwezi where it plans to construct a housing complex to be sold to the public.

PSPF chief executive officer Richard Mwiinga said the funds being invested in these ventures will not only address accommodation for residential but office property shortage as well.
Dr Mwiinga said in an interview recently, that the initiative will also enhance the resource base of the fund to meet its pension obligations.
“We have obtained 2.5 hectares in Chinsali were we want to put up commercial properties to increase the investment portfolio of the fund and for it to be financially sustainable,” he said.
Dr Mwiinga said PSPF has also engaged a consultant on the Solwezi project to come up with the project cost by the end of June and it also will acquire 65 other plots in the district to build houses.
He said the fund has prospects in Kalumbila were it intends to construct houses and the company is already in talks with management on the implementation of project.
Meanwhile, Dr Mwiinga said the fund is looking for land in Choma to put up commercial structures.
“We are working with the Ministry of Lands Lands, Natural Resources and Environmental Protection and Choma council to find suitable land to earn a better return that we stand for,” he said.

 

Facebook Feed

ePaper App

Follow Us on Twitter