FOR IMMEDIATE RELEASE
WITH PICTURE
JUNE 30, 2022
SATURNIA REGNA TO BUILD UNZA STUDENT COMPLEX
LUSAKA, ZAMBIA – Saturnia Regna Pension Fund has embarked on a project to construct a modern 100-room hostel to provide affordable accommodation to University of Zambia (UNZA) students.
The investment will provide alternative accommodation to students after the fund recognised a shortage of bed spaces at the university.
“It is a fitting irony that funds grown for existing working members and designed to provide security for members as they approach the end of their working lives will be put to use to provide facilities for the next generation of employees,” said Saturnia Regna Board of Trustees Chairperson Collins M Hamusonde.
The facility in Lusaka’s Jesmondine area, opposite the UNZA main campus, will include a cafeteria, gymnasium, and a mini soccer pitch. There will be staff dedicated to the facility for a wider range of services, including rental collection, maintenance, and security.
Construction is set to commence this month and is expected to be completed in 2024 and will be financed by the pension fund, which manages more than K3 billion in assets on behalf of its members.
“UNZA has over 30,000 students of which only 5,000 are fully accommodated within the university premises. The remaining students are left to find alternative accommodation in communities around the campus,” explained Bryson Hamanzuka, the Fund Administrator and Company Secretary to Saturnia Regna Pension Fund.
“Unfortunately, most of the available spaces are not suitable for students as most of the property was built for different uses,” he added.
The project will be overseen by AfLife, which offers property management and development services to Saturnia’s property portfolio.
Mr Hamanzuka explained that the facility would be constructed in a way that provided a conducive environment for students during their period of study.
The project falls within Saturnia’s medium-to-long-term property portfolio re-alignment agenda that seeks to divert value from underperforming investments to higher returning investment platforms such as the accommodation facility, which would earn more for the pension fund’s members.
Mr Hamanzuka went on to say the property would also be available to students from other institutions of higher learning should they find it a suitable accommodation option.
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About Saturnia Regna Pension Fund
The Saturnia Regna Pension Fund is Zambia’s largest private pension fund, providing pension plans to employees at 200 corporates covering more than 36,130 employees.
The fund manages K3 billion of net assets including shares in most of the companies listed on the Lusaka Securities Exchange (LuSE) and investments in Zambian Government Treasuries.
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