By A Correspondent
The Zimbabwean government has publicly acknowledged the long-standing mismanagement and failure of the National Social Security Authority (NSSA), admitting that the institution has failed to fulfill its mandate of protecting pensioners’ welfare and growing the national economy.
Announcing a new NSSA board in Harare on Wednesday, Public Service, Labour and Social Welfare Minister Edgar Moyo did not mince his words, calling for sweeping reforms and a complete overhaul of how the authority operates. His remarks signal a rare public admission that NSSA has been largely ineffective, marred by years of poor governance and questionable investments.
“For years, NSSA has failed to deliver meaningful benefits to pensioners. The situation is unacceptable,” said Minister Moyo. “The new board must take decisive action to end a legacy of looting, mismanagement, and ineffective oversight. We owe it to our pensioners to fix this broken system.”
The newly appointed board is chaired by Bulawayo Town Clerk Christopher Dube, who replaces Emmanuel Fundira. Charles Shava has also been confirmed as the substantive Managing Director of NSSA. Both men were tasked with leading urgent reforms to restore public trust and financial credibility.
“The Chairperson must lead with boldness and integrity,” Moyo said. “We expect nothing less than a complete turnaround that positions NSSA as a pillar of national development—not a liability.”
The minister acknowledged widespread discontent among pensioners, many of whom have decried the paltry monthly payouts and lack of transparency over how billions in pension funds and assets are managed. “There’s no denying the pain and anger felt by pensioners. They contributed for years, only to receive peanuts,” said Moyo.
Sources close to the ministry say NSSA’s portfolio has been plagued by politically driven investments, inflated procurement deals, and failure to generate returns on major property and equity holdings. While investigations into past corruption cases have been launched, few have led to convictions or restitution.
Moyo urged the new leadership to focus on “cleaning house,” restructuring the fund’s investment strategy, and prioritizing pensioners’ needs. “The mandate is clear: put pensioners first, restore NSSA’s credibility, and contribute meaningfully to economic growth,” he concluded.
This public admission from the government marks a shift in tone and raises expectations that NSSA—long seen as a cash cow for elites—may finally face the scrutiny and reform demanded by the public.