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Items filtered by date: May 2017
Monday, 22 May 2017 00:00

NASSCORP DEDICATES REGIONAL HUB

The National Social Security & Welfare Corporation (NASSCORP) on May 19 dedicated its newly constructed headquarters for Regional IV in Kakata, Margibi County.

The building provides offices for the local staff, a residence for the regional director, and a banking facility that has already been leased to GN Bank.

Speaking at the program marking the formal dedication of the building, Director-General Dewitt vonBallmoos said his administration was pushing ahead, evermore aggressively, in the quest to make NASSCORP an achievement-oriented institution, a move reflected by the dedication of yet another important landmark in the history of NASSCORP.

The NASSCORP boss assured his audience that the structure was another fulfillment of his administration’s desire to perfect the social security system for the benefit of Liberians through the country. “It is also an important element of our developmental goals and a strategic focus of the nation-building process of our government,” he said.

He pointed out that the chief function of social security is to devise means that compensate enrollees for the loss of their natural ability to earn an income, due to work-related accidents, occupational disease, old age, invalidity to death.

In order to gain the necessary resources to sustain the overall resources to sustain the overall objectives of the program, Mr. vonBallmoos said his administration, with the full support of the Board of Directors, President Sirleaf, and his able and dedicated staff, has embarked on the number of investment projects in many parts of the country, mainly in the area of real estate ventures.

Director-General vonBallmoos revealed that his administration had designed short and long-term initiatives that encompass private equities, commercial enterprises, residential and commercial properties, loans, trade finance and certificates of deposit.

“Let me inform you that our real property represents 72 percent of the corporation’s portfolio that includes the Paynesville Commercial Complex at ELWA Junction, leased by the Liberia Revenue Authority; residential properties in Buchanan, Grand Bassa County, a 16-bedroom guesthouse in Voinjama, Lofa County; a guesthouse in this city (Kakata) and numerous land acquisitions in Monrovia and its environs,” the NASSCORP Chief Executive disclosed.

Mr. vonBallmoos said as the corporation extended its coverage to other parts of the country, it became imperative to lease private buildings for its regional offices and residences for its staff, and to alleviate the problem of leasing, the corporation has undertaken the acquisition fo land in various counties to construct regional offices and residences.

Adopting the strategy, NASSCORP will eventually have no reason to lease private buildings for its offices and residences so that money spent on rent would be redirected to other profitable investments. This, in turn, would help to sustain the solvency of the social security program, Director-General vonBallmoos told his captive audience.

He said the facility being dedicated was constructed by Muson Group, Inc., a Liberian-owned company, at a cost of almost US$400,000 paid for in full with the corporation’s own funds. 

Work on the project began in June 2015 and was completed in February of this year.

The NASSCORP boss said management intends to  build similar structures in all county capitals or were NASSCORP’s regional offices are located are located around the country, and where necessary, banking facilities will be included in these regional hubs for lease to potential bankers.

In the not-too-distant future, he disclosed, NASSCORP will dedicating its new administrative headquarters located on 24th Street, Sinkor, and the medical diagnostic center in Paynesville.

He reminded his audience that extending social services to all sections of our country was one of the corporation’s principal objectives, while the building of the facility in Kakata coincided with this government’s desire to better the lives of all its citizens, adding, “it is our hope that citizens and businesses in the country would endeavor to make the best use of this facility.”

He thanked the architect, the construction company and all those who labored to ensure the completion of the facility on time.

He then promised that, as head of NASSCORP, he will make NASSCORP one of the most efficient, beneficial and profitable institutions in the nation and one that will offer the best of service to Margibi County.

Earlier in his welcome remarks, Eddie Murphy, Kakata City Mayor, praised NASSCORP Management for the level of development it has initiated in a relatively short time, which he said would attract investors.

Speaking at the occasion Joe Mulbah, CEO of Muson Group, Inc., the contractor, thanked Director-General vonBallmoos for believing in the Liberianization Policy. He said it was a manifestation that the policy is in practice.

He promised not to let the contracting party down whenever he is awarded a construction contract. He then handed the key to the building over the Director-General who, in turn, turned it over to the board chairlady.

The President/CEO of GN bank, I. Ofori Quaye, said he was happy to learn NASSCORP  moves with GN Bank.

He assured NASSCORP’s management of his institution’s commitment to partnering with the corporation through the provision of quality banking services to its many beneficiaries and employees.

Mr. Quaye said GN Bank would endeavor to follow NASSCORP wherever it goes in rural Liberia to open banking facilities.

Speaking at the occasion, NASSCORP Board Chairlady Miata Beysolow assured the country’s labor force of her entity’s preparedness to spread its developmental agenda across the country with respect and dignity for all irrespective of employment status.

Making remarks at the occasion Vice Present Joseph Nyumah Boakai, who cut the ribbon to the building, thanked the NASSCORP management, the Legislative Committee on State Enterprises and the contractor for their contributions to making the project a reality.

“These are the dividends of peace and stability. Without peace and stability, you can’t see this,” the Vice President stressed.

He noted that NASSCORP had been in the country for years, but not much was heard of it until this management, adding “I’ve been at many NASSCORP’s dedication programs, including Buchanan.”

The Liberian Vice President pointed out that the work of this government is to provide services to the people,” he added.

“we are also seeing what it means to have the right people in the right places at the right time. We have people who know what it means to do something for the country. Thank you for your commitment to your country and for your dedication this is going to add to the steps already taken to alleviate the difficulties faced by our people outside Monrovia to have access to quality basic services, “Vice President Boakai concluded.

The Board of Directors and Management of the National Social Security & Welfare Corporation (NASSCORP) recently concluded a three-day retreat in the port city of Buchanan, Grand Bassa County.

The retreat brought both groups together from the performance review and self-assessment as the corporation gear up for the implementation of its new Act.

Welcoming participants to the gathering, Chairlady, Miata Beysolow reminded them that good governance should be the central focus in the fulfillment of their respective mandates. She added that the overall expectation of each individual at the end of the retreat was to ensure improved services to beneficiaries.

The NASSCORP board chairlady made a presentation on good governance and referred to accountability, transparency, predictability, participation and dynamism as being at the heart of good governance.

Madam Beysolow provided insights into the board’s role and responsibilities regarding good governance, stressing that there much be clarity in the powers and responsibilities of the board and the management.

Speaking further on the good governance, Chairlady Beysolow said suitability and competence should be the yardstick for the selection of the board and the head of management, and called for the setting of performance standards for the board and management to ensure that NASSCORP efficiently and effectively performs its mandate. 

On transparency, Madam Beysolow said there should be clear and prudent information disclosure for all stake holders, and that beneficiaries must be regularly and timely informed of their duties, responsibilities and rights as a means of ensuring predictability.

Making a presentation on Rist Management, DONATO Group’s Country Director Alexander Marshall said the ultimate objective of Executive Risk Management is to ensure that risks are identified and solutions found to mitigate them, adding, “Risks Management is a continuous process of control.”

Mission & Vision

Our mission is to provide future financial security for those under the schemes - employees of both the public and private sectors of Liberia in the event of occupational injury, old age, invalidity or death.

As a vision we will strive at all times for corporate excellence in providing quality social protection services through the following: quality staff, sound financial management, high yield and viable short-medium term investments, effective and efficient monitoring and evaluation system.

Guides To NASSCORP Schemes

Each one of us works to earn an income. In fact, ...
The 1975 Act establishing the National Social ...