NAPSA Pays Over K4 Million to Society Business Park Tenants: What You Need to Know

NAPSA Pays Over K4 Million to Former Society Business Park Tenants as Renovation Plans Take Shape

Lusaka, Zambia – The National Pension Scheme Authority (NAPSA) has made significant strides in addressing longstanding commitments to former tenants of the Society Business Park. Over K4 million has been disbursed to 42 tenants, representing a substantial portion of the K6 million owed to a total of 63 beneficiaries.

Speaking to ZNBC News, NAPSA Director General Muyangwa Muyangwa confirmed that the payments form part of the authority’s broader strategy to ensure accountability and transparency in its dealings. “We are urging the remaining tenants to promptly submit their bank details so that we can finalize all outstanding disbursements,” Muyangwa said.

The payments are a crucial step in fulfilling NAPSA’s obligations, especially after delays that had raised concerns among stakeholders. This development not only underscores the authority’s commitment to its tenants but also sets the stage for future growth and transformation.

Alongside the disbursement of payments, NAPSA has unveiled plans for the long-awaited renovation of the Society Business Park. Muyangwa disclosed that the authority has finalized the terms of reference for hiring an expert to lead the project. The tendering process for the renovations is expected to begin in the first quarter of 2025.

The project will prioritize consultations with various stakeholders, including neighboring property owners, to address potential disruptions during the renovation phase. By fostering an inclusive approach, NAPSA aims to ensure that all parties affected by the redevelopment are adequately informed and their concerns addressed.

Muyangwa emphasized the importance of collaboration in the upcoming project, noting that stakeholder engagement will be a cornerstone of the renovation process. “We understand the impact that such large-scale projects can have on surrounding communities. Therefore, we are committed to finding solutions that minimize disruptions while ensuring the successful completion of the renovations,” he stated.

The planned renovation of the Society Business Park is part of NAPSA’s broader vision to modernize its infrastructure portfolio and enhance the value of its investments. Once completed, the project is expected to revitalize the facility, making it a vibrant hub for business and community activities.

This initiative reflects NAPSA’s dedication to maintaining high standards in service delivery and infrastructure management. The timely disbursement of funds and transparent handling of renovation plans demonstrate the authority’s resolve to prioritize the welfare of its stakeholders while ensuring compliance with its long-term strategic goals.

As the tender process begins in 2025, all eyes will be on NAPSA to see how it navigates the challenges of a large-scale renovation while maintaining its commitment to transparency and stakeholder satisfaction.

By addressing both the financial needs of former tenants and the infrastructural requirements of Society Business Park, NAPSA is setting a precedent for effective governance and responsible development.