The Parliamentary Public Investment Committee (PIC) in group photo seating in the middle is the Chairman of the Parliamentary Public Investment Committee (PIC), Hon. Deus Sangu, followed by Chaairman of the PSSSF Investment Committee, Mr. Rashid Mtima (seating right of the chairman) and on his left is the PSSSF Dierector General Mr. Abdu-Razaq Badru

The Permanent Parliamentary Committee on Public Investments (PIC) has expressed their satisfaction with the investment in the PSSSF Commercial Complex building located on Sam Nujoma Road in Dar es Salaam. The modern 35-story building is owned by the Public Service Social Security Fund (PSSSF) and is now 100% complete and operational.

Speaking over the weekend during the PIC's visit to the project worth 232 billion Tanzanian shillings, the Chairperson of the Committee, Hon. Deus Sangu, stated that the Committee had inspected the project and confirmed that it had been well executed and met all required standards. "As a committee, we have continued to advise PSSSF to ensure that this building, which has invested a significant amount of the Fund's money, is managed efficiently to achieve the intended objectives. We have inspected and we are satisfied with this investment, and we commend PSSSF," he said.

Chairman of the Parliamentary Public Investment Committee (PIC), Hon. Deus Sangu, speaking after his committee inspected the PSSSF Commercial Complex investment project located on Sam Nujoma Road in Dar es Salaam on March 21, 2024.

He added that the Committee has directed, within the expected investment return period, to ensure profitability and to start generating profits. "This will be beneficial to the Fund and enable it to continue serving members without faltering," he said.

The chairman commended the President of the United Republic of Tanzania, H.E. Dr. Samia Suluhu Hassan, for her efforts in driving economic reforms in the country, and this investment reflects two of the four Rs of H.E. the President, which are Reforms and Rebuild. Committee member Hon. Dr. Pius Chaya, while congratulating the investment, also advised the government through the Office of the Treasury Registrar to consider the possibility of public institutions in Dar Es Salaam using the building. "We're not excluding private institutions, but there is a need to fill the remaining spaces," explained Dr. Chaya.

PSSSF Investment Committee Chairman, Mr. Rashid Mtima (standing), addressing the Chairman of the PIC Hon. Deus Sangu (left), during the visit of the members of the Parliamentary Public Investment Committee (PIC) to inspect the PSSSF Commercial Complex investment project

Giving a profile of the building, the Director-General of PSSSF, Mr. Abdul-Razaq Badru, said the PSSSF Commercial Complex is the tallest building and one of the landmarks of Dar Es Salaam. It is also the tallest building in East and Southern Africa. He said the building has three towers: one is the Commercial Complex, which is the tallest with 35 floors, the Executive Tower with 14 floors, and a 6-floor parking area. "This is called the PSSSF Commercial Complex, there is the Executive tower which is specifically for office activities, the commercial complex involves banks, mixed offices, conference halls, and other social activities, but there is also a parking area," he explained.

Mr. Abdul-Razaq Badru, CEO of PSSSF, delivering a progress report before the members of the Parliamentary Public Investment Committee (PIC) on the implementation of the PSSSF Commercial Complex investment project on Sam Nujoma Road in Dar es Salaam

He said the building has continued to attract more tenants as time goes by, and the Fund's expectations are that by December this year 2024, the occupancy rate is expected to rise to 70 percent. Among the prominent tenants in the building are the United Nations Development Programme (UNDP) and its agencies, the major telecommunications company Tigo