RE: - NSSF BOARD'S DECISSION NOT TO RENEW THE CONTRACT OF THE MANAGING TRUSTEE
The Central Organisation of Trade Unions, Kenya (COTU, K)'s attention has been drawn to a story appearing in today's Monday, 20th February 2012, copy of the Standard, Page 10 on the decision of the National Social Security Fund (NSSF) Board of Trustees no to renew the contract of the Managing Trustee, Alex Kazongo.
The story further alleges that the Managing Trustee woes stem from his refusal to off-load shares from the East African Portland Cement (EAPC) and those Board Members who wanted these shares offloaded are now opposed to his renewal of contract.
Contrary to these claims, the Members opposed to the renewal of contract for the Managing Trustee are the very individuals who are opposed to the offloading of National Social Security Fund's shares at the East African Portland Cement and the Managing Trustee himself has always supported the off-loading of these shares from the cement company.
The decision of the Board to remove the Managing Trustee should not be construed to mean there is personal vendetta against the Managing Trustee but is purely based on performance and those opposed to his renewal of contract are members who we are demanding that procurement issues at the fund be done above board and have a passion to see the fund grow in terms of its assets.
Further, during the tenure of the former Managing Trustees, Naftali Mogere and latter Rachael Lumbasyo left the fund, they had moved the funds both capital and asset base from a meagre Kshs. 27 Billion to a whooping Kshs. 100 Billion where the fund stands today and there has been no single value addition to the fund from the current Managing Trustee since he took over because apparently, he lacks the drive to move the fund to any higher level as earlier anticipated during his recruitment.
The Managing Trustee was evaluated by the Board and his performance was below average and disparities are likely as every Board Member has his/her own way of assessment and the fact that a few of the members are sympathetic to his contract renewal doesn't mean sympathy becomes synonymous with performance.
At the same time, the matter of the sale of 1,000 acres of land belonging to the EAPC is a non-issue, has never been contested at the Board level nor has the issue of the Managing Trustee's academic credentials since when the Board hired him we all knew he had first degree qualifications.
Let us not seek side shows and dwell on innuendos as far as the decision of the Board is concerned since even the collection of NSSF dues from employers has dramatically gone down with some employers not remitting this dues under his watch as the Managing Trustee and since these are issues for management as are issues of procurement with the Board only required to approve the budget, the Managing Trustee who leads the management team, must be held to account and it is against such benchmarks that the Board finds the Managing Trustee's performance below average.
Francis Atwoli, MBS