Rwanda Social Security Board (RSSB)’s investment portfolio has reached Rwf1 trillion after a good performance registered by the body in the last fiscal year 2018-2019, the Fund’s officials have said.
The revelation was made on Monday by RSSB’s Director General, Richard Tusabe, during a press conference held at the body’s office to announce its performance in the completed fiscal year 2018-2019.
“It’s a promising overview,” Tusabe said after describing the fund’s performance in different areas in which it offers services.
RSSB’s total investment portfolio was Rwf891.7billion by the end of the previous fiscal year 2017-2018, which means that the fund’s assets such as the value of its real estates, treasury bonds, and shares in banks have grown positively.
Vision City, the biggest housing project in Rwanda and financed by RSSB, consists of 504 villas and apartment units. Sam Ngendahimana.
“We are growing year after year,” Tusabe said after stating that the Fund had reached the Rwf1 trillion mark in value of its investment portfolio.
In the completed fiscal year the fund’s net return on investment was Rwf48.6 billion, up from Rwf45billion in the fiscal year 2017-2018.
The fund currently manages five schemes that include pensions, occupational hazards, community-based health insurance (CBHI), maternity leave benefits, and Ejo Heza long term savings scheme.
In order to remain profitable and meet its obligations towards its contributors over the long term, RSSB makes investments in different areas such as buying shares in profitable companies, making profitable deposits in commercial banks, and investing in building real estate for both sale and rent.
Tusabe, who took over the management of RSSB in October last year, said that the Fund will continue to invest in profitable projects in the future, with net return on investment for the current fiscal year (2019-2020) expected to be Rwf57 billion.
“We are optimistic that we are going to grow the investment income,” he said after revealing the target for net return on investment in the current fiscal year.
In October last year, the Minister for Finance and Economic Planning, Uzziel Ndagijimana, told journalists that RSSB had remained profitable despite the fact that some of its investments had failed to make returns.