The Director General of the National Social Security and Insurance Trust- NASSIT, Mohamed Fuaad Daboh and the Chairman Board of Trustees, Prof. Lawrence Kamara are on a two-day working visit to the Social Security and Housing Finance Corporation -SSHFC in the Gambia to observe progress made by SSHFC in their investment portfolio particularly in the Housing sector and to strengthen bilateral relationship between NASSIT and SSHFC.
In a high powered meeting with the management of SSHFC, the Managing Director, Mamadu Njiang enumerated the strides made by his Organization in the last 38 years to provide effective social protection and housing services for the people of the Gambia.
Addressing the NASSIT team, Mamadu Njiang stated that SSHFC in addition to its core business of administering Social security for the people of the Gambia, the Corporation has a mandate to provide Housing financial service.
According to the Managing Director, the Housing finance is a means through which the Corporation services plots of land with or without small construction loans for the low and middle income Gambians and provide suitable number of completed houses for those in the middle class.
He informed the team that the Corporation is involved in various housing projects such as Brusubi, Bakoteh and Kanifing layouts in which employees are given 75% mortgages and pay off the balance on the property over 15 years.
“The development and administration of housing projects is either carried out independently by the Corporation in partnership with other agencies, ‘ Mr. Njiang concluded.
In his response, the Director General of NASSIT, Mohamed Fuaad Daboh lauded the strides made by SSHFC particularly in the housing sector. He said the Gambian model could be best not only for Sierra Loene but the entire sub- region. He enumerated the successes his administration has scored in a little over one year in office to put NASSIT on the right path.
He called on all Social security institutions in the sub region to collaborate, coordinate and be willing to share ideas for the good of the continent.
On his part, the Chairman Board of Trustees of NASSIT, Prof. Lawrence Kamara, acknowledged that the visit was very fruitful and will help validate the strides they have made back. He said this has shown that NASSIT is in the right trajectory.
Meetings were also held with the Operations and Benefit Divisions of SSHFC to enable the team to assess their processes in comparison with those of NASSIT with a view to implementing best practice back home.
The team also visited some of the investment sites to give opportunity to the visitors to see first-hand the strides made by SSHFC.
This visit is not only good for the Director General and Board Chairman, but will also give the Director General idea on Sub- regional schemes and Corporations in readiness for his new appointment as Vice Chairman for the Technical Commission for the Investment of Social Security Funds.