The Social Security Fund of Rwanda (SSFR) has registered an increase in its investment portfolio to Rwf151.6 billion for the period ending June 2010 from Rwf146.1 billion in the same period last year.
A statement from the public pension body says the achievement has enabled it to offer loans, real estate development and job creation.
SSFR says that the investment in real estate soared from Rwf718 million in 2002 to Rwf56 billion as of March 2010.
“The body’s contribution to loans offered by banks in which it holds shares were in 2002 a total of Rwf25.5 billion; offered as loans out of which SSFR contributed Rwf7.4 billion compared to Rwf137.9 billion offered in 2009 out of which the pension fund contributed 28 percent equalling to Rwf38.8 billion,” the statement reads in part.
The pension body has also projected that by 2017; Rwandans saving through the fund will rapidly increase, contributing Rwf344.9 billion in 2017 from Rwf26.2 billion this year.
“We plan to achieve this by implementing a new policy that calls for an increase of members’ contribution from 8 percent to 37 percent,” a report indicated
The report goes on to state that the fund’s investment portfolio will considerably grow hence contributing to the country’s economy significantly.
According to the same report, the total investments will eventually shoot up to Rwf746.6 billion in 2017 from Rwf151.6 billion this year 2010.