Mwinyi demands efficacy at social funds

Mwinyi demands efficacy at social funds
Mwinyi demands efficacy at social funds

Africa-PressTanzania. ZANZIBAR President Dr Hussein Mwinyi has demanded strong and tightly managed social security funds to ensure members’ money remains profitably safe.

“The government is duty bound to ensure appropriate and timely measures are taken to ensure the (social security) fund becomes stronger and is managed by capable leaders, who loathe embezzlement, corruption and theft,” Dr Mwinyi charged.

Launching the Zanzibar Social Security Fund’s (ZSSF) Hifadhi Building at Tibirinzi suburb in Pemba’s Chake Chake District as part of the 57th Zanzibar revolution celebrations, the president ordered speedy renting out of business spaces in Michenzani Mall and Thabit Kombo building in Unguja, saying the infrastructures have remained idle for quite long.

Former President Dr Ali Mohamed Shein launched the imposing building last October but so far the ultra-modern facility hasn’t opened for business.

President Mwinyi reiterated the government’s resolve to ensure that all ZSSF members live peacefully without worrying about the fate of their deposits, which are their sole savior after retirement.

He directed ZSSF management to ensure good will reigns in the use of members’ deposits in the fund by ensuring that all the money is invested productively and the fund is operated professionally and with great care.

“Always maintain sufficient liquidity to settle members’ claims as they fall due,” President Mwinyi ordered, warning the fund management against subjecting members to unnecessary hustles.

The Minister of State in the President’s Office, Finance and Planning Jamal Kassim described the project completion as a great success towards increased productivity and revenues.

He said the 7.9bn/- investment in the three-storey building was sourced from ZSSF members’ contributions and it must be recouped.

“It’s of critical importance to recover this investment and generate profit if the project has to become productive to the members,” the minister said, underscoring the need for all tenants in the building to pay rent as required.

Earlier, Dr Mwinyi toured the imposing infrastructure and received detailed explanations on the project under the execution of Quality Building Contractor Limited.

Meanwhile, President Mwinyi has directed Regional Commissioners and District Commissioners to identify industrial investment areas in their jurisdictions, insisting that there is need to establish more blue economy related industries at Micheweni area.

Speaking at a public rally at Maziwang’ombe area on his inspection tour of construction works on the road leading to Micheweni free investment area, he directed the provision of essential services like water and electricity to the prospective investors.


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