Saturday, July 24We Break the News

PENSION

Zimbabwe: Govt to Allow Pension Funds to Invest Offshore

Zimbabwe: Govt to Allow Pension Funds to Invest Offshore

AFRICA, GOVERNMENT, PENSION, ZIMBABWE
The Government is working on modalities that will allow pension funds to invest their monies offshore, Finance and Economic Development Minister Mthuli Ncube has said. The industry has been lobbying the State for permission to invest local pensioners' contributions out of the country, especially following the re-emergence of significant inflationary pressures during the 2018/2019 currency reforms. According to an earlier submission by the industry to the authorities, players sought permission to get some assets offshore at a threshold of even 25 percent, a move aimed at value preservation. In a recent engagement with the industry, Minister Ncube said this will soon be possible following establishment of necessary modalities. "What I am going to be doing as I fine-tune the ...
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