NASSIT Discusses Investment Plans With COVEC West Africa Limited
In a bid to support President Bio’s Government’s Big Five Projects, the National Social Security and Insurance Trust (NASSIT), engages the Chinese Construction and Engineering Company for the construction of an ultra-modern medical facility and student hostels.
Receiving the delegation, the NASSIT Director General, Mohamed Fuaad Daboh, described NASSIT as a statutory Public Trust given the responsibility to administer Sierra Leone’s National Pension Scheme, adding that, despite the primary responsibility of collecting contributions, paying benefits, and investing funds to meet the long term liability of the Trust, NASSIT is desirous of contributing to the attainment of the Government’s big five key flagship programmes, with the construction of an ultra modern hospital and students hotels in five university campuses across the country.
“Since my assumption of office as Director General, I have endeavoured to establish partnerships for the attainment of this objective, and I am greatly delighted to have you in our office this morning to discuss this very important issue,” DG Daboh emphasized.
Introducing the guest, Sierra Leone’s Ambassador to China, Dr. Abu Bakarr Karim, expressed delight for the meeting and his determination to define and develop a new chapter in the bilateral relationship between Sierra Leone and China.
According to him, President Julius Maada Bio’s Big five flagship projects are very critical to the development of Sierra Leone and require the concerted effort of every Sierra Leonean. He informed the meeting that Mr. Ma Aiging, who is the Deputy Managing Director of COVEC West Africa, is part of a contingent of investors from China, who are in Sierra Leone to explore investment in the country’s opportunities. Dr. Karim assured Ma Iging of Government’s commitment to creating a conducive investment atmosphere.
In his remarks, Ma Aiging told the meeting that the China Overseas Engineering Group Co.Ltd, known as COVEC is a Chinese construction and engineering company that is a subsidiary of China Railway Group Limited, a large collection of engineering and design firms.
According to Aiging, COVEC is a global top 500 enterprise, possessing outstanding capability and capacity in international project contracting, China’s foreign aid projects, overseas industrial investment, labour services, and international trade.
He informed the team that COVEC is operating in many parts of the globe, particularly in Africa, in areas such as funds sourcing, partnerships, and construction service, and that they are already in Sierra Leone on a number of projects.
“My presence in Freetown is as a fore runner to the arrival of the group President and the Technical team on a number of investment possibilities in Sierra Leone”, he emphasised, while expressing his organization’s willingness to collaborate with NASSIT for the overall good of the people of the country.
Speaking on the investment needs of the Trust, the NASSIT Deputy Director General in charge of Administration, Finance and Investment, Mohammed Gondoe, highlighted the critical intervention areas the Trust is contemplating on, ranging from health, tourism to capacity building. He reiterated the commitment of NASSIT to invest in an ultra modern medical facility and campus hostels to contribute to the wellbeing and capacity building of the country.
The team had fruitful discussions on the nature of investment, funding, design, construction, and operationalization of the two projects. As a way of moving the process forward, the team agreed to adhere to key activity timeliness and commitment to adhere to them.
NASSIT, we care!
