Contributors to the National Social Security Fund (NSSF) will receive 11.5 percent interest they earned this year, Finance minister Matia Kasaija announced Thursday.
"As per Section 36(2) of the NSSF Act (Cap 230), for the Financial Year 2023/24, I declare an interest rate of 11.5 percent," Mr Kasaija announced.
According to him, this year's interest rate is above the 10-year average rate of inflation currently at 4.2 percent, and the 2023/24 inflation which stood at 3.9 percent.
Subscribe our newsletter to stay updated
Thank you for subscribing!
Subscribe our newsletter to stay updated
Thank you for subscribing!