NAPSA US$ 98 Million Deal Justified

The National Pension Scheme Authority has projected a profit of more than 200 million dollars from its investment in the Building Society house re-development.

NAPSA Director-General, Stanley Phiri made the disclosure today when he appeared before the commission of inquiry on the respective transaction.

The transaction involves the 98 million dollars the Lusaka’s central business district building society house re-development into a 5-star hotel and shopping mall.

Mr Phiri explained that NAPSA will recoup its 98 million dollars investment and it will be getting 12 percent of its investment annually until the 20th concession year.