By Mustapha Jallow
On Thursday, April 24th, 2024, the Social Security and Housing Finance Corporation (SSHFC)
convened an Annual General Meeting at the Paradise Suite Hotel in Senegambia. The event
brought together representatives from public and private institutions, notably members of the
Federated Pension Scheme and the National Provident Fund.
During this gathering, elections were successfully conducted for representatives of the Federated
Pension Scheme, National Provident Fund, and Pensioners on the SSHFC Board. Additionally,
twenty distinguished institutions were honored with awards for exemplary compliance in
employee contribution payments throughout 2023 in adherence to the SSHFC 2015 Act.
The distinguished Chairman of the SSHFC Board, Mr. Oreme Joiner, warmly welcomed the delegates with the support of his fellow Board Members. During his speech, Chairman Joiner emphasized the Corporation’s unwavering commitment to governance initiatives that effectively meet its stakeholders’ expectations, needs, and requirements. He proudly declared that the Corporation has achieved significant growth, with members’ funds increasing from D7.8 billion in 2022 to D8.3 billion in 2023, indicating a remarkable percentage growth of 6.4%. He also noted the Corporation’s success in reducing staff costs, remarking, “We are thrilled to report asubstantial 26% reduction in staff costs to date. This accomplishment demonstrates our dedication to maximizing value for our members while ensuring the sustainability of our operations.”
According to Joiner, SSHFC has made significant strides by introducing its Strategic Plan 2022-
2026, which outlines impactful strategies for sustainable growth. Moreover, the recent validation
of the Amended SSHFC Act 2015 is a testament to their unwavering dedication to compliance
and governance. The Corporation has also put in place various policy documents, with others in
the final stages of implementation. By completing the 2023 Financial Audits, SSHFC has
demonstrated its steadfast commitment to financial integrity and transparency, placing it among
the select few parastatals to have achieved its 2023 Financial Audit goals.
During the meeting, the Chairman expressed the Board’s unwavering support for the
Management team’s efforts in implementing the Social Security Management Information
System (SSMIS). This modernized computer system is designed to streamline operations and
improve member services by integrating all related subsystems and providing a dedicated user
portal for 24/7 access. The Chairman emphasized that the SSMIS will revolutionize member
interactions by enabling instant access to contributions, mortgage statements, and related
services. He also shared that shortly, the Board is working with the Corporation to extend social
security services to the informal sector, which represents most of the Gambia workforce.
