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Saturday, May 25, 2024
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SSHFC FUND RISES TO D8.3BlN IN 2023

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Stakeholders told at Annual General Meeting

The Social Security and Housing Finance Corporation (SSHFC), one of the best organised state-owned enterprises in the country, has reported a massive 6.4 percent rise in members fund within one year from D7.8bn in 2022 to D8.3bn in 2023.

This impressive development was reported by board chairman Oreme Joiner on Thursday at the cooperation’s annual general meeting at the Paradise Suites Hotel attended by representatives from both public and private institutions notably, members of the Federated Pension Scheme and the National Provident Fund.

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Chairman Joiner also emphasized the corporation’s commitment to governance initiatives aimed at efficiently addressing stakeholders’ expectations, needs, and requirements. “We are pleased to report significant progress in our endeavour to reduce staff costs, achieving a notable 26% reduction to date. This achievement underscores our dedication to maximizing value for our members while ensuring the sustainability of our operations,” he told the audience at the AGM.

Also, during the gathering, elections were successfully conducted for representatives of the Federated Pension Scheme, National Provident Fund, and Pensioners on the SSHFC Board while some twenty institutions were honoured with awards for exemplary compliance in employee contribution payments throughout 2023, in adherence to the SSHFC 2015 Act.

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