NSSA fires general manager and four directors


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The recently appointed the National Social Security Authority (NSSA) board yesterday dismissed chief executive James Matiza alongside four other directors and appointed former BancABC Zimbabwe group managing director, Hashmon Matemera, as interim general manager.

Matemera is also a member of the NSSA board, which was appointed by labour minister Priscah Mupfumira on July 7 this year.

NSSA said Matiza’s dismissal was part of a major restructuring exercise. Matemera will takeover in interim capacity until a substantive appointment and would not be considered for the full-time position, it added.

“Mr Matemera is not a candidate for the substantive position and his acting appointment will not extend beyond the latest date of 31 March 2016 under any circumstances,” said NSSA in a statement.

In addition to Matiza, who was appointed in 2009, investment director, Shadreck Vera, Finance Director Patrick Mapani, Corporate Services Director Tendai Mafunda and ICT director Bright Chidyagwai were also fired.

The new board which is chaired by investment banker Robin Vela, was tasked by Mupfumira to reduce its exposure on the capital markets and balance its investment portfolio with infrastructure projects and employment creation to help offset an underperforming economy.

NSSA, which has 70 percent of its investments in the equities market, has interests in 53 of the 59 companies listed on the Zimbabwe Stock Exchange, holding at least 10 percent shareholding in 12 counters.

Other board members include lawyer Daphne Tomana (deputy chairman), Matemera, Nester Mukwena, Eria Phiri, labour unionists Jemina Mateko, Richard Gundane and Memory Mukondoni.-The Source

(351 VIEWS)

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Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

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