NSSF announces 11.5% interest rate, surprising savers
The NSSF announced an interest rate of 11.5%, surprising some savers who expected returns of at least 12% to 13.5%. They cited that the provident fund's returns from investments in MTN, Airtel, and others generated billions from interest, dividends, and income from real estate. Another argument is that the economic fundamentals during the period leading up to the rate announcement favored the NSSF providing interest greater than 11.5%. The fund's managing director acknowledged that yields from the three asset classes were strong but emphasized that, when compared to the market, the returns from the fund’s investments remain the best among other players.
