# Zambia National Pension Scheme Authority

Zambia National Pension Scheme Authority is a Pension Fund based in Lusaka, Zambia.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Lusaka, Zambia
- **Region:** Africa
- **Address:** NAPSA House, Levy Business Park, Lusaka, 10101, ZM
- **Founded:** 1996
- **Assets under management:** 4548 (Altss estimate)
- **Website:** napsa.co.zm
- **LinkedIn:** https://zm.linkedin.com/company/national-pension-scheme-authority

## Regulatory record

- **Reports private funds:** No

## About

The National Pension Scheme Authority was established in 1996 to administer Zambia's social security system. It collects contributions and pays retirement, invalidity, and survivor benefits. Muyangwa Muyangwa serves as Director General and Shipango Muteto as Board Chairperson. NAPSA deploys capital across real estate, infrastructure debt, and listed equities on the Lusaka Securities Exchange. Asset-class mix includes direct ownership of mixed-use developments such as Levy Business Park and Garden City Mall, plus $300 million in Lusaka-Ndola Dual Carriageway financing and $200 million in Maamba Collieries power expansion. The authority also holds equity positions in ZCCM-IH, ZANACO, and Copperbelt Energy Corporation. All activity remains inside Zambia. The organization employs 750 staff and maintains its headquarters in Lusaka. It operates through subsidiaries including NAPSA Hospitality Investments Limited. In March 2026 NAPSA held its Annual Media Engagement Meeting to report contribution income growth and portfolio updates. The authority maintains membership in the International Social Security Association. NAPSA functions as a statutory body under the Ministry of Labour and Social Security. This structure requires investment decisions to prioritize domestic socio-economic returns over external manager allocations. Governance flows through a government-appointed board that oversees both benefit payments and asset deployment.

## Sectors

- Real Estate
- Infrastructure
- Financial Services
- Mining

## People

- Muyangwa Muyangwa — Director General
- Shipango Muteto — Board Chairperson

## Questions

### Who runs investment decisions at Zambia National Pension Scheme Authority?

Muyangwa Muyangwa serves as Director General. Shipango Muteto chairs the board. Both appear in the authority's governance records.

### Does Zambia National Pension Scheme Authority participate in fund commitments or only direct deals?

NAPSA executes direct investments in real estate, infrastructure loans, and listed equities. No external fund commitments appear in its disclosed holdings.

### What investment stages does Zambia National Pension Scheme Authority typically target?

The authority targets completed or near-complete assets in real estate and operating infrastructure projects. It also maintains long-term equity positions on the Lusaka exchange.

### How is Zambia National Pension Scheme Authority related to the Ministry of Labour and Social Security?

The ministry provides statutory oversight. NAPSA operates as the designated administrator of the national pension scheme.

### What is Zambia National Pension Scheme Authority's known posture on co-investments alongside external GPs?

NAPSA has co-invested with British International Investment and Swedfund in Growth Investment Partners Zambia. It also partners with the Industrial Development Corporation on state-linked holdings.

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/zambia-national-pension-scheme-authority

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