Security fund eyes high-yield projects, bond

• The chairman said the Fund had grown its financial base to a level that it could successfully raise infrastructure bonds for development of major projects like highways, bridges and energy plants, through public-private partnerships.

The National Social Security Fund intends to make strategic investments with high returns in the next 17 years, as outlined in Vision 2030, the blueprint for turning the country into a middle level economy.

The Funds’ chairman, Mr Adan Mohamed, on Monday said they would soon approach the Treasury and other stakeholders in the financial sector with the objective of raising an infrastructure bond.

He said this would diversify the fund’s investments from equities and property development.

“In this journey, we shall soon be seeking the support of stakeholders in the financial sector from Treasury to all other players to consider accepting an infrastructure bond from NSSF,” he said.

The chairman said the Fund had grown its financial base to a level that it could successfully raise infrastructure bonds for development of major projects like highways, bridges and energy plants, through public-private partnerships.

Speaking during the issuance of an ISO certificate for the Fund, he said NSSF would play a greater role in implementing infrastructure projects.

“It will be my joy to commission a suspended bridge across Mombasa’s Likoni channel funded by NSSF. It will also be my joy to commission a superhighway and even a power generation plant constructed through an NSSF bond,” he said, noting: “These are not dreams. These are strategic focus areas that will highlight and amplify NSSF’s role.”

He said with Sh110 billion, NSSF was well placed to undertake huge projects envisaged in Vision 2030.