GEITA: THE National Social Security Fund (NSSF) said on Sunday that in the last financial year it collected contributions of approximately 56bn/- from Geita Region, mainly from the mining sector.
NSSF’s Director General Masha Mshomba stated this when explaining to the Deputy Prime Minister and Minister for Energy, Dr Doto Biteko when he visited the Fund’s pavilion at the ongoing Sixth International Exhibition of Mining Technology in Geita Region.
The NSSF participates in the exhibition because it is the only Fund responsible for registering members from the private sector and the informal sector, including small-scale miners, so that they can join and save for their current and future lives.
“When President Samia Suluhu Hassan came to power, in Geita Region the NSSF was collecting 29bn/- as contributions but it has doubled in two years, which is a great success and we believe we will continue to do better,” he said.
He noted that in the financial year that ended in June 2023, the total amount of collected contributions was 1.66tri/- and in the financial year that ended in June 2022, the value of collected contributions was 1.48tri/-.
He said that was a huge increase and that the value of NSSF has continued to grow rapidly according to the audited report in June 2022.
The value of the Fund was 6.08tri/-in June 2023, the value of the Fund has reached 7.6tri/- according to the audited financial report.
“This is a very huge growth, especially considering that before President Samia came to power the value of the Fund was 4.8tri/-. This success is a result of her efforts to attract investors,” said Mr Mshomba.
He said since the mineral exhibitions started, they have seen an increase in members and contributions, he thanked Geita Regional administration for the great cooperation to the NSSF.