NAPSA gives NRFA K2.1bn loan for rehab of Copperbelt roads

Yollard Kachinda

The National Pension Scheme Authority (NAPSA) has given the National Road Fund Agency (NRFA) a K2.1 billion loan for the rehabilitation and upgrading of selected viable economic roads on the Copperbelt province with accompanying toll gates

In a statement, NAPSA Director General, Yollard Kachinda says this follows the recent financing agreement the Authority entered into with the National Road Fund Agency (NRFA) for the rehabilitation and tolling of some identified economic roads on the Copperbelt.

Mr. Kachinda says under this agreement, the National Pension Scheme Authority will provide loan financing to the roads which include, the 58 kilometer Ndola – Kitwe dual carriageway, Kitwe – Chingola dual carriageway, Chingola – Solwezi lot 1 and 2 and Chingola – Solwezi lot 3.

He says the named road projects are at different stages of completion and NAPSA will fund the outstanding contract balances and construction and installation of toll plazas.

Mr. Kachinda explained this is the first ever investment in infrastructure following the approval of new investment guidelines that allow the National Pension Scheme Authority to invest up to 15% of its asset portfolio in viable infrastructure projects.

He says the loan agreement is an important investment opportunity for NAPSA as it provides them with a good and guaranteed yield of a ten-year Government Bond plus 1.5%.

Mr. Kachinda says the expected return on this investment is a huge boost to the Authority’s asset portfolio and will be greatly beneficial to the members.