Swazi Observer

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KING HAILS PSPF’S ROLE IN JOB CREATION

By SIBUSISO DLAMINI | 2024-11-24

His Majesty King Mswati III has lauded the Public Service Pensions Fund (PSPF) for its significant contributions to job creation and poverty alleviation in the country over its 30 years of existence.

The monarch expressed his admiration in a foreword to a commemorative book marking PSPF’s 30 years of service, launched on Friday night at the Hilton Garden Inn in Mbabane, one of the Fund’s key investments.

The launch, a grand celebration of the Fund’s legacy, was attended by acting Prime Minister Thuli Dladla, Cabinet ministers, PSPF board members, and captains of the industry.

“PSPF’s investments in infrastructure, property, and other sectors has had a ripple effect, bolstering industries and uplifting lives,” the King said, highlighting the Fund’s dedication to poverty alleviation, praising its impact on communities across the kingdom.

His Majesty’s message underscored the Fund’s transformative impact on the economy and its members, highlighting its role as a cornerstone of socio-economic progress.

“Over the past three decades, the PSPF has played an essential role in ensuring the economic stability of civil servants after retirement,” His Majesty stated.

He noted that the Fund’s initiatives extend beyond pensions, driving development through investments in diverse sectors that created jobs, sustain livelihoods, and foster hope in communities. Since its establishment, PSPF has grown exponentially, with assets surging from E280 million in 1994 to a staggering E34 billion in 2024.

His Majesty attributed this success to sound management, strategic investments, and a commitment to urgency in operations, reflecting the spirit of Nkwe – an ethos of adaptability and excellence.

The King commended the Fund’s ability to remain resilient and innovative in a rapidly changing environment, always prioritising the well-being of its members.

“PSPF has continually demonstrated its ability to adapt and thrive, putting the needs of its members first,” he said, emphasising that PSPF has been a critical driver of job creation.

The King described the Fund as a pillar of strength and stability, ensuring that civil servants maintain financial security after retirement, emphasising the importance of economic well-being, stating that it should not end with an individual’s working years.

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The monarch expressed confidence in the Fund’s future, encouraging it to build on its successes while embracing opportunities for growth and innovation. He challenged PSPF to adapt to the evolving needs of its members and to continue serving as a beacon of integrity, service and excellence.

Acting Prime Minister Thuli Dladla, echoed His Majesty King Mswati III’s praise of the fund, commending its vital role in fostering economic resilience and aligning with the country’s development goals.

Dladla lauded the Fund’s significant impact on national development through strategic investments, highlighted its transformation from a government department into a self-sustaining entity that embodies integrity, transparency, and excellence.

“Since its inception in 1994, PSPF has grown into a trusted institution that safeguards the welfare of civil servants while contributing significantly to socio-economic growth,” she said.

The acting prime minister emphasised that the Fund has fuelled economic development, created jobs, and improved lives across the country by making strategic investments.

“PSPF has had a positive ripple effect on various sectors, uplifting communities and providing livelihoods for countless Emaswati,” she said, citing the Hilton Garden Inn as an example of the Fund’s commitment to sustainable investments.

“The hotel not only serves as a symbol of economic progress but also demonstrates the potential of public-private sector partnerships to drive growth,” she said.

She commended the companies that placed congratulatory messages in the commemorative book, noting that their support highlighted the importance of collaboration between the private and public sectors.

“Your contributions to this book not only helped offset production costs but also exemplify the power of partnerships in advancing our nation,” Dladla added.

The acting prime minister also paid tribute to the authors of the commemorative book, describing it as a valuable record of PSPF’s history and achievements.

She noted that the writing team, composed entirely of local professionals, had done a commendable job documenting the Fund’s journey.

“This high-quality book tells the story of PSPF’s beginnings, growth, and successes, as shared by stakeholders and beneficiaries. It honours the vision and dedication of those who built the Fund and serves as an educational tool for current and future generations,” she stated.She further recognised former prime minister Cleopas Sipho Dlamini, who served as PSPF’s CEO for 16 years, for his contributions to the Fund’s growth.

“His leadership elevated the Fund to new heights, and I look forward to reading his insights in this book,” she said, underscoring PSPF’s unwavering commitment to financial security for civil servants.

“Through prudent management and sound investments, PSPF has ensured that retirees can enjoy financial security in their golden years,” she said, describing the Fund as a pillar of stability for families across the country.

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