By LUDOVICK KAZOKA, 16th October 2010
NSSF to build apartments in Mchikichini
THE National Social Security Fund (NSSF) is expected to further invest in real estate by constructing residential apartments at Mchikichini Area in Dar es Salaam.
This was said by the Fund's head of research and plans, Mr Gerald Sondo, during a one-day seminar for journalists to brief them on NSSF's contribution to the economic development.
He said the project would start before the end of this year.
"The aim of investment is to increase the benefit of every shilling deposited by our customers and meet the administrative expenses," he said. Mr Sondo said investment by the NSSF had tremendously contributed to the socio-economic development.
The Fund's projects had provided the people with employment and social services, he observed. He noted that as the Fund had both short and long term benefits. The later had to be invested to preserve the value of money deposited by the customers in order to provide them with satisfactory benefits.
Mr Sondo also said the Fund planned to embark on a house loan plan through which customers would be able to get a loan for house construction. The real estate projects by NSSF had unraveled the problem of residence to government officers.
He added that the Fund planned to invest in the Kigamboni Bridge project to ease transport. The Fund would benefit from the vehicles fees which would be charged for using the bridge, he said
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