Nambawan Super says membership movement stable


NAMBAWAN Super Ltd (NSL) has not seen changes in its membership in terms of exits and entries, says trustee director Richard Sinamoi.
“In terms of exits and entries into the membership, I don’t think we have seen a lot of movement and it has been consistent,” Sinamoi said.
Chief investment officer David Kitchnoge said a lot of the fund’s members were from the public sector since they were guaranteed their jobs during the Coronavirus (Covid-19) outbreak in country.
He also highlighted that one of its investee companies, Kumul Hotels, benefited from the quarantine business associated to the Covid-19 and vaccinations.
Chief executive officer Paul Sayer had previously said in a workshop last year that 2020 was hard for the fund as revenue from investments was affected due to the onset of Covid-19.
“Shareholders are impacted when businesses are impacted,” Sayer said.
“This year has been hard for NSL with the contraction to the economy, projects not starting and the Covid-19.
“We have not seen a boom in the economy.
“Our interest depends on investments and some of these investments are in businesses such as properties.”