Dewitt vonBallmoos, National Social Security and Welfare Cooperation (NASSCORP) Director-General, over the weekend assured government and partners that the corporation is aggressively pushing ahead in its quest to being ‘an achievement-oriented institution.’
Mr. vonBallmoos spoke at program marking the formal dedication of NASSCORP’s newly constructed regional office complex in Kakata, Margibi County.
“We have assembled here today to dedicate yet another important landmark in the history of NASSCORP. This is an indication that we are pushing ahead, evermore aggressively in our quest to make NASSCORP an achievement-oriented institution,” vonBallmoos told his elated audience including Vice President Joseph Nyumah Boakai.
Mr. vonBallmoos said the Kakata structure is another fulfillment of the corporation’s desire to perfect the social security system for the benefit of Liberians.
He said it is also an important element of the entity’s development goals and a strategic focus of the government’s nation building process.
VonBallmoos said the chief function of the agency is to devise means that compensate enrollees for the loss of their natural ability to earn an income, “due primarily to work related accidents, occupational disease, old age, invalidity or death.”
However, he said to gain the necessary resources to sustain NASSCORP’s overall objectives, “My administration, with the full support of our Board of Directors, President Ellen Johnson Sirleaf, and my able and dedicated staff, has embarked on a number of investment projects in many parts of the country, mainly in the area of real estate ventures.”
Accordingly, vonBallmoos said NASSCORP has designed short and long-term initiatives that encompass private equities, commercial enterprises, residential and commercial properties, loans, trade, finance and certificates of deposit.
He said as of Friday, May 19, real property represents 72 percent of the corporation’s portfolio that includes the Paynesville Commercial Complex at the ELWA Junction, which is now leased to the Liberia Revenue Authority (LRA), residential properties in Buchanan, Grand Bassa County, a 16-bed room guesthouse in Voinjama, Lofa County, a guesthouse in Kakata and the numerous plots of land the entity has acquired in Monrovia and its environs.
Mr. vonBallmoos: “As the corporation extends its coverage to other parts of the country, it becomes imperative to lease private buildings for its regional offices and residences for the staff.”
He said to alleviate the problem of leasing the corporation has undertaken the acquisition of land in the various countries to construct regional offices and residences.
The Kakata facility, vonBallmoos said, was constructed by the Musons Groups Incorporated – a 100 percent Liberian-owned company, at the cost of about US$400,000, paid for in full with “NASSCORP’s own funds.”
Work on the project began in June 2015 and was completed in February of this year. In addition to the housing, NASSCORP’s regional office in Margibi County also has residential facilities for the regional director.
For that, Mr. vonBallmoos said, management intends to build similar structures in all 15 county-capitals, or where the corporation’s regional offices are located around the country.
“It is envisaged that where necessary, banking facilities will be included in these regional hubs for lease to potential bankers,” the director-general said.
Meanwhile, the agency has announced that it will “not in too distant a future” dedicate its new administrative headquarters located on 24th Street, Sinkor as well as the dedication of a modern medical diagnostic center, also located in Paynesville, adjacent the LRA headquarters.
Earlier in his welcome remark, Eddie Murphy, Kakata City Mayor, praised NASSCORP’s management for the level of development it has initiated in a relatively short period of time, which he said would attract investors.
NASSCORP Board chairperson Miatta E. Beysolow assured the country’s labor force of the entity’s preparedness to spread its developmental agenda across the country with respect and dignity for all irrespective of employment status.
Vice President Joseph Nyumah Boakai, who cut the ribbons to officially dedicate the building, said the agency’s trend of development is one that signifies the dividends of peace and stability, “because without those factors, the country and its citizens cannot have any development.”
He added: “This is to arrive at the fruit of putting the right people in the right places at the right time.”
Several individuals including foreign partners, representatives of GN Bank, Margibi officials and few other lawmakers attended Friday’s ceremony.