WHERE IS OUR MONEY? RWANDAN SOCIAL SECURITY FUND UPDATE 1
Readers will recall that the Rwandan Social Security Board (RSSB) is required by law to publish transparently where people's money is invested. Indeed, this is what RSSB states on its website regarding its investment portfolio:
"Here, we share our investments, assets, revenues; expenditure and income obtained from the different ventures we are undertaking. Details of proceedings from our schemes, income from our real estate projects and cash put in are included. We have also included the cash in our current accounts collected from both our pension and medical schemes. We have also projected the revenue we expect from these different projects as they continue taking shape. A close glance at these details will help you to understand our investment patterns and to track our progress. We believe in transparency, that is why we want to share our investment portfolio with you." http://www.rssb.rw/content/investment-portfolio
Readers will further recall that we later established that the biotech firm in which the Rwandan social security fund monies were invested is the Boston-based Merrimack Pharmaceuticals.
MORE THAN US$10,000,000.00 WAS INVESTED
In our same earlier posting, we came to the figure of US$10,000,000.00 that the Rwanda government invested in Merrimack Pharmaceuticals.
An anonymous source has now informed us that in fact the figure is US$25,000,0000.00 - monies drawn from the following institutions responsible for managing and investing Rwandan people's money:
# US$10,000,000.00 from social security fund (prior to the merger to form RSSB)
# US$10,000,000.00 from RAMA
# US$5,000,000.00 from Military Medical Insurance (MMI)
STAY TUNED
The law is on our side. We will sooner or later get to the bottom of where Rwandan people's money is invested but hidden from the public view but yet is required by the law. RSSB will have to sooner or later publish all the details with regards to where all Rwandan people's monies are invested - domestically or overseas.
Readers will recall that the Rwandan Social Security Board (RSSB) is required by law to publish transparently where people's money is invested. Indeed, this is what RSSB states on its website regarding its investment portfolio:
"Here, we share our investments, assets, revenues; expenditure and income obtained from the different ventures we are undertaking. Details of proceedings from our schemes, income from our real estate projects and cash put in are included. We have also included the cash in our current accounts collected from both our pension and medical schemes. We have also projected the revenue we expect from these different projects as they continue taking shape. A close glance at these details will help you to understand our investment patterns and to track our progress. We believe in transparency, that is why we want to share our investment portfolio with you." http://www.rssb.rw/content/investment-portfolio
But RSSB does not provide any details STILL beyond the two FACTSHEETS - one for July-September 2012 and for October-December 2012. It is as if RSSB did not exist before July 2012 and since December 2012.
In other words the government of President Paul Kagame is engaging in criminality, by breaking the laws of Rwanda.
Here though we share an even more revealing UPDATE. Readers will recall that we tried to trace how Rwandan people's social security fund ended up in Boston. The original hint came from Jeff Chu's famous article "Rwanda Rising: A New Model of Development" published by FastCompany in Boston in April 2009, http://m.fastcompany.com/1208900/rwanda-rising-new-model-economic-development
Readers will further recall that we later established that the biotech firm in which the Rwandan social security fund monies were invested is the Boston-based Merrimack Pharmaceuticals.
MORE THAN US$10,000,000.00 WAS INVESTED
In our same earlier posting, we came to the figure of US$10,000,000.00 that the Rwanda government invested in Merrimack Pharmaceuticals.
An anonymous source has now informed us that in fact the figure is US$25,000,0000.00 - monies drawn from the following institutions responsible for managing and investing Rwandan people's money:
# US$10,000,000.00 from social security fund (prior to the merger to form RSSB)
# US$10,000,000.00 from RAMA
# US$5,000,000.00 from Military Medical Insurance (MMI)
STAY TUNED
The law is on our side. We will sooner or later get to the bottom of where Rwandan people's money is invested but hidden from the public view but yet is required by the law. RSSB will have to sooner or later publish all the details with regards to where all Rwandan people's monies are invested - domestically or overseas.




