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NSSA hunts for new CEO

by Staff reporter
03 Mar 2024 at 16:43hrs | Views
THE National Social Security Authority (Nssa) has started the process of hunting for a new general manager to replace Arthur Manase, who resigned in September last year while on suspension.

Manase, who presided over an estimated US$1,2 billion worth of assets under the pension fund, was suspended in July 2022 as the government undertook a probe following allegations of corporate governance failures, mismanagement and corruption at the asset manager.

According to a notice released on Friday, the new GM will be mandated with providing the strategic vision, planning and operational leadership to ensure that Nssa optimises its social security delivery and investment processes to meet and exceed established global thresholds and International Labour Organisation certified standards.

"He or she will have overall accountability, responsibility and authority for the management and supervision of the organisation's business affairs, in accordance with the strategic plan and objectives as developed by the board, and subject to oversight by the line ministry (of Public Service, Labour and Social Welfare)," the notice reads in part.

Key outputs include the development and execution of strategic vision and planning processes; successfully growing the two Nssa schemes, namely pensions and other benefit schemes and accident; prevention and worker's compensation scheme for the improved benefit of all qualifying recipients.

The GM should also ensure the accuracy, efficacy and integrity of all financial information, reporting and disclosure requirements and setting up of internal control systems; transparency of operations, compliance requirements, management of subsidiaries, investee companies and all business operations, systems and resource planning and service delivery; exercise sound judgement, regarding any course of action to be taken in order to fulfil Nssa's mandate as a social security agent and investment manager.

He or she should demonstrate a track record of at least 10 years in executive management, and leadership roles, preferably in the social security sector; demonstrate knowledge and understanding of government regulations, compliance requirements with Nssa, Public Entities Corporate Governance, Public Procurement And Disposal Of Public Assets Act and Public Finance Management Act and any other policy considerations.

Manase, according to reports, was facing more than 30 charges of mismanagement, maladministration and corruption.

He was going to be hauled through an internal disciplinary process, but resigned as charges were preferred against him.

The fund in 2022 faced several investigations by different state institutions, including the Zimbabwe Anti-Corruption Commission (Zacc).

At one time Zacc actually camped at Nssa Building in Harare to conduct the investigations.

Source - the standard