NAPSA defends US$300 million Lusaka-Ndola road financing

LUSAKA – The National Pension Scheme Authority (NAPSA) has moved to allay public concerns, unequivocally defending its substantial US$300 million financial commitment towards the construction of the critical Lusaka-Ndola Dual Carriageway. In a recent statement, the pension fund asserted that its decision to inject such a significant sum into the flagship infrastructure project was predicated on robust commercial considerations and an exhaustive due diligence exercise, directly addressing and dismissing suggestions of any hasty or ill-conceived investment. The Lusaka-Ndola Dual Carriageway is a pivotal infrastructure undertaking, designed to significantly improve connectivity and economic activity between Zambia's capital and its Copperbelt province, a region vital to the nation's mining industry. NAPSA's involvement, representing a major portion of the project's financing, has naturally drawn considerable public and media attention. The Authority's defence highlights its mandate to not only safeguard but also grow the pension contributions of Zambian workers through prudent and profitable investments. Sources within NAPSA indicate that the due diligence process involved comprehensive assessments of the project's viability, including traffic projections, potential toll revenues, construction timelines, and the overall economic impact on the country. The Authority's investment strategy reportedly prioritises projects that offer stable, long-term returns, aligning with its objective of ensuring the sustainability of pension payouts for its members. The dual carriageway, given its strategic importance and anticipated high usage, is presented as meeting these stringent investment criteria. This clarification from NAPSA is particularly pertinent given the historical context of large-scale public-private partnerships in Zambia, some of which have faced challenges or attracted criticism regarding transparency and cost-effectiveness. By emphasizing commercial consideratio