- July 2, 2022
- Posted by: Simangolwa Muyunda
- Category: General
The National Pension Scheme Authority is set to increase its investment in various sectors of the economy with a view to adding value to the members’ contributions in order to increase their benefits.
Speaking when he conducted a familiarization tour of the Marcopolo plant recently, the NAPSA Director General, Muyangwa Muyangwa disclosed the Authority’s desire to exponentially grow the fund and contribute to economic growth and improve the well-being of its members.
Mr. Muyangwa reiterated the need for more value addition across the production value chain if the country was to move from its current status to a prosperous middle-income status in line with the vision 2030.
“Marcopolo Tiles Company limited is really a game changer especially when it comes to value addition in the country as almost 95 percent of the raw materials towards the manufacturing of its products are locally sourced. Iam very impressed with what I have seen on the ground and I just hope that we can have more manufacturing companies of this nature. As NAPSA will continue exploring opportunities in the manufacturing industry so that we can add more value in this sector.” Mr. Muyangwa stated.
Mr. Muyangwa commended Management of Marcopolo Tiles Company Limited for supporting government’s policy on manufacturing and job creation especially for women and youths.
Marcopolo Tiles Company Limited Chief Executive Officer Roy Mwamba, said he was delighted with NAPSA’s support and pledged to leverage on the support to ensure that the company delivers on its promise of manufacturing quality and affordable products for the country as well as the COMESA and SADC regions.
“The current partnership with NAPSA is one which we treasure so much because it’s helping us achieve our strategic goals as an organisation. This has also seen our company diversify our product portfolio from tiles to include sanitary ware among others,” Mr. Mwamba said.
NAPSA has the fiducial responsibility of collecting members’ contributions and investing them in viable projects in order to pay meaningful and
sustainable benefits while contributing to economic growth.
Marcopolo Tiles Company Limited is a manufacturing company which was incorporated in Zambia on the 8th July 2016 and commenced production in 2017. It is one of the first companies in the country to start manufacturing porcelain tiles and sanitary ware which has led to import substitution and creation of over 800 jobs among other economic benefits.