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NSSA Investments Cause Uproar in Parliament

The parliamentary portfolio committee on public accounts Monday grilled the National Social Security Authority’s general manager James Matiza over multi-million dollar losses at the pension fund.

According to the state-owned Herald newspaper, Monday’s hearings were prompted by findings by the comptroller and auditor-general Mildred Chiri in her 2012 report, which unearthed several irregularities in NSSA’s financial affairs.

NSSA, according to the report, has been sinking millions of tax payer dollars into troubled institutions like the Capital Bank and Renaissance Financial Holdings Limited.

Matiza told the parliamentary portfolio committee on public accounts that they turned away two attempts by Renaissance Financial Holdings Limited’s major shareholder, Mr. Patterson Timba — brother to MDC-T secretary for external relations Mr. Jameson Timba — to get the authority to invest in his project.

Also appearing before the committee was secretary for public service Ngoni Masoka, NSSA investments director Shadreck Vhera and NSSA finance and administration director Ms. Memory Mukondomi.

The parliamentary committee says it is not happy with the goings-on at NSSA.