NAPSA PAYS FORMER SOCIETY BUSINESS PARK TENANTS

(6 December 2024 – Lusaka) The National Pension Scheme Authority (NAPSA) has processed payments amounting to K3.7 million to former tenants of Society Business Park following the closure of the business park and the resulting need for tenants to vacate the premises.
During a press briefing in July 2024, Mr. Shipango Muteto, Chairperson of the NAPSA Board of Trustees, advised that NAPSA would refund all tenants their security deposits and advance rental payments. In addition, the Authority pledged to compensate all tenants six months’ worth of rent in lieu of notice, in accordance with the terms of their tenancy agreements.
“We recognize that the decision to temporarily close Society Business Park was both difficult and costly, but necessary to protect the safety and wellbeing of the tenants and address structural weaknesses in some sections of the property, specifically the office block and parkade. Following our commitment to support the tenants, we have paid compensation to tenants, refunded their security deposits and advance rental payments. To date, we have paid out K3.7 million to over thirty tenants,” said Muyangwa Muyangwa, NAPSA Director General.
On July 30, 2024, NAPSA announced the immediate closure of Society Business Park after reports identified significant structural failures in the office block and parkade, rendering them unsafe for continued use. Given that these sections are connected to the hotel and mall through common facilities, the closure of the office block and parkade necessitated the closure of the entire business park to ensure the safety and well-being of tenants and the public.
The Authority now awaits the engagement of engineering consultants to conduct a thorough study to recommend the best approach for addressing the structural concerns.
The Authority is committed to ensuring that all outstanding payments to former tenants are processed as administrative procedures are finalized.

Issued by:
Cephas Sinyangwe
Head Corporate Affairs
National Pension Scheme Authority (NAPSA)
Phone: 0211 395000