Nambawan Super Limited (NSL) has announced a Net profit of K144million for the year 2022, which resulted in the declaration of an interest rate of 1.6% to be paid to members’ accounts. The NSL Chief Executive Officer (CEO) that although it was a slight increase in interest rate from last year, it was still a good result given the challenges globally and domestically the superfund faced last year. “I’m sure many of our members will be disheartened by this result, it’s completely understandable to feel that way when investments one has made don’t go as expected.” “The result for 2022 may be discouraging; however, we want to remind and reassure out members that the funds are safe with us and are available to our members.” “We are a long term savings and we continue to grow and make those funds available for members when they are ready to retire and exit the fund,” said the CEO. He explained that it is normal in any investment environment that our investments are subject to economic conditions that a company operates in. “This may lead to low, high or even potentially negative returns in one year and this is something that we need to manage for our members going forward and also to make sure that education is passed across to our members.” He said in early 2022, the fund expected the members might get a negative crediting rate; however, the fund worked really hard to ensure that does not happen. “Considering the tough time the fund had in that portfolio caused by the volatile economic circumstances, the following crediting rate of 1.6% for our members, we feel is a good result.” The superfund had to adept to change tactics to manage the effects of rising inflation and other challenges posed in 2022. Some of those challenges include the issue of the lack of foreign exchange, the global economic situation from geopolitical issues and the government’s additional bank tax imposed on the BSP Financial Group Limited.