The income from financial investments of the National Social Insurance Fund amounted to 20.5 billion F in 2021, according to official documents of the organization.
This result is up by more than 5 billion compared to the previous year. In detail, interest on term deposits in banks generated 9.6 billion; bonds produced 5.7 billion; dividends amounted to 421.8 million and loans and other products generated 4.9 billion. While the management expenses of this portfolio (services consumed, taxes and other expenses) amounted to just over 83 million F.
“For the next five years, we intend to double the income from financial investments,” said the director general of the NSIF, Alain Olivier Noël Mekulu Mvondo Akam, in a recent interview with Cameroon Tribune, the daily newspaper. The public pension fund had already done better over the past five years by almost tripling its revenues. They have, in fact, increased from 7 billion in 2017 to 20.5 billion in 2021.
However, it remains difficult to assess the level of profitability of this portfolio due to the unavailability of certain data. Since 2019, the NSIF has not published the breakdown of its portfolio by type of investment. That year, the overall assets were valued at more than 320 billion FCFA, including more than 41 billion in real estate assets, 41 billion in bonds, more than 47 billion in shares, nearly 180 billion in DAT and 10 billion in other equity securities.
Speaking to MPs on 17 June 2021, as part of an exchange on welfare and social security issues organised by the National Assembly, the MD of the NSIF nevertheless revealed that this state-owned company had, at that date, a cash position of 325 billion F ‘in cash’.
Apart from this cash, it was learnt on the same occasion, the assets of the NSIF as at 31 December 2020 amounted to 850 billion F in total, of which 400 billion F were “realisable and available” assets.