Zafa moves to comply with prescribed asset status

ZIMBABWE Association of Funeral Assurers (Zafa) is working on a symmetric project to comply with the policy that requires players to invest at least 10% of their assets into prescribed assets, NewsDay Business can report.

Early this year, Insurance and Pensions Commission (Ipec) actuarial director Robson Mtangadura revealed that at least 10% of a pension fund’s and insurance firm’s assets must be in prescribed assets.

However, players have failed to comply with this measure with Ipec and Treasury pushing for compliance as this would create an additional funding stream that can be channelled into long-term development projects.

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