Zimbabwe: Govt Sucked Into U.S.$30 Million Nssa Loss

THE country's controversy-mired National Social Security Authority (NSSA), whose key executives were late last year sacked for alleged delinquency, lost US$30 million through an ill-fated investment in a distressed bank, the Financial Gazette can report.

This was after the Ministry of Finance forced the compulsory pensions administrator, over which government has control, to back down on a plan to halt the transaction in 2013.

...

AllAfrica publishes around 400 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.