Arusha - The National Social Security Fund (NSSF) and PPF Fund have pooled in resources to establish a joint sugar processing factory at Mkunazini, Ngerengere in Morogoro Region, it has been revealed here.
Speaking at the Sixth NSSF Stakeholders Conference, the social security scheme’s Director General, Professor Godius Kahyarara, stated that the proposed factory will be in position to churn out 200,000 tonnes of sugar per year.
The joint NSSF-PPF sugar production venture will also open employment vacancies to more than 100,000 people at the beginning, with the number, as well as production, set to increase as the time goes on.
The meeting is taking place here to address and review the pension funds’ activities and performance in the past year, specifically focusing on the analysis of development and trends of the social security sector across the country and the funds’ extension of coverage.
Running under the theme ‘Social Security and Industrialisation,’ the stakeholders’ meet, being held for two days at the Arusha International Conference Centre (AICC), was used as a platform for the assessment of the pension funds’ role in industrialisation and job creation - in line with President John Magufuli’s initiative to transform the country into an industrialised nation.
The paper to that effect, which was entitled, ‘Social Security and Industrialisation in Tanzania,’ was presented later in the day by Professor Humphrey Moshi, a senior lecturer in Department of Economics of the University of Dar es Salaam (UDSM). For years, most social security schemes have been striving to invest in real estate development.
But early this year, Dr Magufuli told them to halt their usual skyscraper race in the cities and instead, with other pension funds hatch up a number of industries throughout the country to create more employment and boost the country’s move towards greater industrialisation and to scale up exports.
Daily News
No comments:
Post a Comment