Financial Governance

The NSIF Strengthens its Investment Strategy in line with ISSA Standards

The Board Members of Cameroon's National Social Insurance Fund (NSIF) met on Tuesday, the 25^th of November 2025 at the Mbalmayo International Conference Centre (CICM) for a strategic training session dedicated to the International Social Security Association (ISSA) investment guidelines.

The session began with a minute of silence in honour of the late Rosalie Mbarga, who represented the Ministry of Justice on the Board of Directors. Until her recent passing, she also served as President of the Reprieve Committee, where her dedication, rigor and strong sense of public service left a lasting mark on the Institution.

Delivered with technical support from Harvest Asset Management, the training forms part of the NSIF’s ongoing commitment to improve and professionalise the management of social security funds. It aligns with ISSA standards, widely recognised as an international benchmark for governance, prudential management and the performance of social protection systems.

The ISSA reference framework outlines seven key principles for responsible and sustainable fund management. These include clear and well-documented investment convictions, robust governance with a strict separation of roles between the Board, the investment committee and management, rigorous risk management supported by scenario analysis and stress testing, controlled portfolio diversification, integration of ESG/SRI criteria, transparent and regular reporting, and strict due diligence in both internal management and outsourcing processes. These principles are essential for Social Security Institutions, which must ensure liquidity, manage institutional risks effectively and remain accountable to citizens and public authorities.

During the exchanges, attention was also given to ISSA’s specific recommendations for African social security funds. These focus on strengthening governance independence, progressively diversifying assets, establishing a controlled risk budget, investing prudently in high-impact national projects such as infrastructure, health and education, and enhancing transparency through regular and accessible communication. These recommendations are fully aligned with NSIF’s strategy to build trust among insured persons and ensure disciplined, efficient and transparent management of its investments.

For the NSIF, investment is a key driver in ensuring the long-term sustainability of resources. It helps secure the uninterrupted payment of benefits and supports the overall stability of the system. Diversification across real estate, financial markets and infrastructure, combined with strengthened risk-management tools, contributes significantly to the resilience of the scheme.

This training session comes at a pivotal moment, marking an important step toward aligning national practices with global standards. The ultimate objective remains clear: guaranteeing security, liquidity and sustainable returns, which are the three pillars that underpin the investment mission of a modern and high-performing Social Security Institution.