President Emmerson Mnangagwa has called on the Public Service Pension Fund to expand its investment horizons, urging its leadership to “think outside the box” in their approach to future projects.
Speaking in Chinhoyi where he commissioned the Varsity Heights, a new student accommodation project. the President emphasized the importance of diversifying the pension fund’s portfolio to drive socio-economic development and wealth creation for its contributors.
President Mnangagwa noted that while the pension fund has become a profitable entity over the past few years, there is a need for it to go beyond traditional investments. He challenged the fund to seek out partnerships and investments that will stimulate production and productivity across a variety of sectors in the economy.
“The fund should think beyond conventional projects and explore investments in sectors that will enhance productivity and stimulate economic growth,” he said.
The project is a Public-Private Partnership involving the Public Service Pension Fund (PSPF), which is the primary investor, alongside seven other partners.
In addition, the President highlighted the commercialization of innovations emerging from Zimbabwe’s institutions of higher learning as a key area where pension funds could focus. Under the Second Republic, innovation hubs have been introduced across all higher education institutions. These hubs aim to empower young Zimbabweans to turn their ideas into viable products and services that can contribute to the country’s industrialization and modernization efforts.
“We introduced innovation hubs in our universities so that students—whether boys or girls—can dream, create, and innovate,” Mnangagwa stated. He expressed confidence that these hubs would produce transformative ideas that could lead to new industries and bolster the economy.
The President concluded by reiterating that pension funds must align their investments with the broader national goals of inclusive growth, wealth creation, and economic empowerment, with a particular focus on youth and women.
