The Social Security Commission (SSC) has announced that it has disbursed a total of N$147 million towards community development and employment creation, bursaries and study loans, and training schemes, since the inception of its Development Fund in 2011.
This information was shared as part of the SSC’s 28th anniversary celebration, an event that was officiated by Labour, Industrial Relations, and Employment Creation Minister Utoni Nujoma.
The funds have been used to support a range of initiatives, including 427 bursaries and 128 study loans, as well as 49 employment projects and 18 training schemes that created 1,604 jobs. These projects have played an important role in promoting economic development and reducing unemployment in Namibia.
As part of the 28th anniversary celebrations, the SSC announced the fourth round of funding for deserving projects. This round saw 19 employment creation schemes from socio-economically disadvantaged backgrounds being awarded N$20.8 million in Development Fund funding.
Speaking at the event, Minister Nujoma encouraged the SSC to continue its efforts to provide social insurance in Namibia. He also highlighted the importance of the Commission’s work towards the establishment of two new funds, the National Pension Fund and the Unemployment Insurance Fund.
“I encourage the Commission to speed up your work on these two sorely needed Funds. Rest assured that the SSC is well positioned to continue to strengthen the provision of social insurance going forward, building on what has been achieved already,” he said.
The SSC’s work towards the establishment of these new funds highlights its ongoing commitment to supporting the people of Namibia. Through its Development Fund and other initiatives, the Commission has played a critical role in promoting economic growth, reducing unemployment, and improving access to education and training opportunities.
