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NASSIT
NASSIT was established in 2001 by Sierra Leone's Act No. 5, creating a statutory public trust to administer the National Pension Scheme and provide retirement,...
NASSIT
NASSIT was established in 2001 by Sierra Leone's Act No. 5, creating a statutory public trust to administer the National Pension Scheme and provide retirement, invalidity, and survivors' benefits. The trust pools contributions from the nation's formal-sector workers and serves as a shaped conduit between domestic savings and physical development, with Mohamed Fuaad Daboh serving as Director General. NASSIT's investment posture is heavily concentrated in direct real estate development and hospitality, deploying through joint ventures with international construction partners rather than traditional third-party fund commitments. Its portfolio spans residential, commercial, and mixed-use projects across multiple Sierra Leonean cities. Confirmed assets include the Sewa Ground Market in central Freetown, the Sea View Estate in Goderich, and the Radisson Blu Cape Sierra Hotel in Aberdeen (per public record, 2024). The trust has partnered with Ghanaian developer Regimanuel Gray Limited on multiple housing projects and with Chinese firm Liaoning Xinchi Industrial Development Company on tourism redevelopment. The fund operates shopping plazas in Kenema, Makeni, and Bo, alongside own the Golden Tulip Kimbima Hotel in Freetown. In 2025, NASSIT signed a Memorandum of Understanding with the Africa Finance Corporation to collaborate on long-term infrastructure investments (per the firm's official communications, 2025). The Director General also represents NASSIT on the Governing Council of the Africa Social Security Association, situating the trust within a continental peer network of social security institutions. NASSIT's distinction lies in its dual mandate as both pension administrator and active property developer — a structure where the trust does not merely allocate to funds but directly procures land, engages contractors, and manages hospitality assets. This operational model ties retirement outcomes directly to the execution risk and commercial performance of its on-balance-sheet developments in a frontier market.
General information
Firm type
Pension Fund
Year founded
2001
Location
Region
Africa
Country
Sierra Leone
City
Freetown
Corporate office
Freetown, Sierra Leone
Principals
Mohamed Fuaad Daboh
Director General
Sector focus
Frequently asked questions
Who runs investment decisions at NASSIT?
The Director General, Mohamed Fuaad Daboh, oversees the trust's administration and investment direction. The trust is governed by a Board of Trustees that provides oversight of its real estate development and infrastructure projects.
How is NASSIT structured as an institution?
NASSIT is a Statutory Public Trust created by Act No. 5 of the Parliament of Sierra Leone in 2001. It is not a private asset manager but a mandatory national social security institution that collects contributions from formal-sector employees and employers, paying retirement and other social insurance benefits.
Does NASSIT invest through external fund managers or make direct investments?
NASSIT invests directly, primarily in real estate and hospitality. It partners with international developers — such as Regimanuel Gray Limited of Ghana for housing and Liaoning Xinchi of China for hotels — rather than committing capital to externally managed private equity or real estate funds.
What are NASSIT's most significant assets?
The portfolio includes the Sewa Ground Market, Radisson Blu Cape Sierra Hotel, Golden Tulip Kimbima Hotel, Sea View Estate, and shopping plazas in Kenema, Makeni, and Bo. The trust also executed an Affordable Housing Pilot Project in Grafton.
Where does NASSIT's capital come from?
Contributions flow from Sierra Leone's formal workforce. Under the National Pension Scheme, both employees and employers remit a percentage of covered earnings to the trust, pooling the country's retirement savings under a single statutory mandate.
Does NASSIT operate outside Sierra Leone?
All known property holdings are within Sierra Leone. The trust's partnerships with Ghanaian, Chinese, and pan-African counterparties bring external construction and financing expertise into Freetown and provincial cities, but there is no evidence of offshore asset ownership.
How is NASSIT connected to the Africa Finance Corporation?
In 2025, NASSIT and AFC signed an MoU to collaborate on long-term infrastructure investments in Sierra Leone. Details of committed capital or specific project pipelines have not been publicly disclosed.
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