TIRI MASAWI
Outgoing Social Security Commission (SSC) executive officer Milka Mungunda says she is leaving the institution in a far stronger financial position than she found it a decade ago, with investments growing from about N$1.9 billion to between N$6 billion and N$9 billion.
Mungunda, who will leave office at the end of July after serving for ten years, says the commission transformed its investment strategy, strengthened its finances and embraced digitalisation during her tenure.
“As I’m leaving now, I’m leaving the institution better. I am leaving the institution with between N$6 and N$9 billion,” she said in a video interview played at International Social Security Association (ISSA) Annual Stakeholders’ Forum held at Midgard Country Lodge last week.
FROM N$1.9 BILLION TO BILLIONS
One of the biggest changes under Mungunda’s leadership was moving the commission away from keeping most of its investments in cash.
“When I joined Social Security, our investments were mostly in cash. That is how we used to invest. We changed the investment policy, we introduced offshore investments, and I think that was probably one of the best things we have done. We started almost with N$1.92 billion,” she said.
She said reviewing the investment policy allowed the commission to invest in asset classes that had previously not been considered.
“The change, amendment and review of the investment policy was very important. It assisted us to invest in asset classes which were normally not considered,” she said.
She believes those changes laid the foundation for the commission’s financial growth.
FIXING THE FINANCES FIRST
Mungunda said repairing SSC’s finances became her first priority after joining the commission.
She recalled that then-chairperson Johannes !Gawaxab told her the institution’s financial statements had been in the red for several years.
“The chairman at the time, Johannes !Gawaxab, told me that the finances had been in the red for the past couple of years. He said that was my biggest challenge. I joined in July and was told that before the end of that financial year, I had to make sure we worked on it. And yes, we managed,” she said.
The commission ended that financial year with its finances no longer in deficit and obtained an unqualified audit opinion.
“That was the first encouragement and the first achievement,” she said.
TAKING SOCIAL SECURITY ONLINE
Besides strengthening the balance sheet, Mungunda says modernising the commission became another major priority.
“I have always been telling my team that in Africa we are 30 years behind, and we cannot afford not to be part of the development,” she said.
She credited the commission’s information technology team for driving the digital transformation.
“They have really helped us. We are now digitalising. We have introduced paperless systems. It’s still not the end. I believe my successor will take it further so that Social Security becomes a paperless institution,” she said.
The digital systems have made it easier for clients to access services without visiting SSC offices.
“Wherever you are, you can always access our services. You can register, you can do payments and you can do everything on our apps,” she said.
LEADING THROUGH TURBULENCE
Looking back, Mungunda said she inherited an institution facing serious internal and external challenges.
“When I joined Social Security, it was a very troubled institution. The staff were demoralised and things were not working. There was a lot of media attention,” she said.
Using her background as a psychologist, she said she focused on building teamwork instead of imposing authority.
“I did not come to Social Security as somebody who was going to enforce my rules. I came to form a team, a team to take Social Security to the next level,” she said.
She said she worked closely with employees, ministers and the board to rebuild the institution.
“We worked collectively towards taking Social Security to another level. It wasn’t always easy, but it was part of the journey,” she said.
CONTROVERSY
Despite the financial turnaround, Mungunda’s tenure was marked by several controversies.
Among the most notable was the failed N$150 million investment in the now-defunct SME Bank, where she also served as a board member.
Last year, The Issue newspaper also reported an alleged breach involving an offshore investment portfolio worth between N$693 million and N$720 million.
According to the reports, the South African asset manager Retirement Investments and Savings for Everyone (RISE) invested some of the funds in unlisted private credit instruments, allegedly contrary to the commission’s investment policy.
UNFINISHED BUSINESS
Several key reforms also remain incomplete.
During Mungunda’s tenure, the National Pension Fund (NPF) and National Medical Benefit Fund (NMBF) were not fully operationalised despite being statutory obligations.
Plans to transfer the N$3.9 billion Public Service Medical Aid Scheme (PSEMAS) to SSC is also yet to materialise.
Her departure comes as President Netumbo Nandi-Ndaitwah has directed SSC to fast-track the implementation of the National Medical Benefit Fund by using the commission’s existing infrastructure to support a centralised health financing system.
Even so, Mungunda believes the commission is better positioned financially and operationally than when she arrived.
A LEADER PRAISED ON HER WAY OUT
Justice and labour minister Fillemon Wise Immanuel said Mungunda is leaving behind a stronger institution.
Speaking at the International Social Security Association (ISSA) Annual Stakeholders’ Forumh held at Midgard, he praised her decade-long leadership.
“You are leaving behind a strong, modern institution that is truly poised for future growth. By any measure, you have been a transformational leader, through and through. Your successors will have a strong foundation to build on for success,” he said.
GLOBAL STAGE
Beyond SSC, Mungunda also served two terms as Vice President of the International Social Security Association (ISSA), representing Africa.
She described the role as one of the highlights of her career.
“Social protection is not a privilege. It is a human right,” she said.
She said the position allowed her to represent Namibia and the African continent internationally.
She also noted that she was the first African woman to serve as an ISSA vice president, an achievement she said she will always cherish.
SUCCESSOR
As she prepares to step down, Mungunda says she is confident SSC is on a stronger footing.
Her final message to staff is to continue supporting the institution and its next leader.
“It is not about the individual. It’s about the country and it’s about the people whom we are serving,” she said.
COMMENTS