By Muhammad Bah
The Social Security Housing and Finance Corporation on Monday 9th February tabled their report to the Joint Committee of the Public Account and Public Enterprise of the National Assembly.According to Mr. Edward Graham, Managing Director of the corporation, their role is to provide adequate social protection for workers, facilitate shelter delivery on a sustainable basis, invest the funds of the corporation in achieving optimum returns possible and contribute meaningfully to the socio-economic development of the Gambia.
Mr. Graham told the joint committee (PAC/PEC) of the Assembly that the corporation continued to invest in the health, education, agriculture, housing and transportation sectors of the country’s economy, adding that these efforts are all geared towards national development.
He concluded that the corporation will not relent in its corporate social investment efforts and in that way the lives of the majority of Gambians can be improved.
Mr. Abdoulie Cham, Director of Finance and Investment informs that the consolidated gross income less contribution recorded a decrease by 36% from D335.75 Million in 2012 to D214.56 Million. According to Mr. Cham, the Federated Pensions Fund contributed D57.44 Million of the total, the National Provident Fund 62.23 million, the Housing Finance Fund 73.56 million and the Injuries Compensation Fund 21.33 million.
He said the recurrent expenditure decreased by 18% and the corporation recorded a consolidated Net surplus of D9.65 Million. He added the total Net Assets grew by 5% from D5.03 billion in 2012 to D5.27 billion in 2013.
In his conclusion, he said the Member’s fund grew by 3% to D4.43 billion during the year 2013.
Meanwhile the corporation will return to the National Assembly on an unspecified date to be asked questions pertaining to their report by members of the committee.
By Muhammad Bah