NSSF to build five-star hotel in Dodoma
What you need to know:
- The investment will include the 120-room hotel, featuring a presidential suite, as well as office spaces for commercial businesses, a sports bar, and a bank.
Dodoma. The National Social Security Fund (NSSF) has announced plans to start construction of a multi-purpose investment project in Dodoma, including a five-star hotel.
The ambitious project, which is expected to cost Sh148 billion, will break ground in May 2025.
The investment will include the 120-room hotel, featuring a presidential suite, as well as office spaces for commercial businesses, a sports bar, and a bank.
Speaking at a tree-planting event on December 20, 2024, at the Njadengwa area, where the project will be located, NSSF Director General Masha Mshomba revealed that a thorough feasibility study had been conducted to assess the project’s viability. He assured that the project is expected to pay off within 11 years.
“Construction will begin in May. We are in the process of selecting a contractor, with the first steps already underway. Final evaluations will be completed by March next year, and the project will commence shortly thereafter,” Mshomba stated.
The project follows inspiration from President Samia Suluhu Hassan's visit to Mwanza's investment project, where she expressed interest in replicating similar projects across the country. Mshomba emphasized that the Dodoma project aligns with the President's directive on June 14 in Mwanza, and he added that the Mwanza project is progressing rapidly and is expected to be completed next year.
“The implementation of this project follows the President’s directive in Mwanza. The Mwanza project will be completed next year and will attract tourists to the Lake Zone, which will further fuel the growth of the Fund,” Mshomba said.
Mshomba also highlighted NSSF’s primary role in safeguarding members' funds and investing them wisely to generate income, which will allow the Fund to fulfill its core mandate of paying pensions.
“Alongside this crucial responsibility, this investment is of particular importance as it requires detailed planning. If not executed properly, it could fail to generate sufficient returns, which would hinder our ability to fulfill our pension obligations,” Mshomba explained.
He further emphasised that the pensions NSSF distributes often exceed members' contributions, with the extra funds generated through investments.
"That’s why it is essential to ensure that we’re investing in profitable ventures. Before construction begins, we’ve acquired all necessary permits to ensure that this project will generate the desired returns,” he added.
NSSF Project Manager, Helmes Pantaleo, shared that the hotel will be managed by Dubai's Ako Hospitality Company. He also confirmed that environmental assessments have been completed, with the construction site tested for soil stability and seismic activity.
“We’ve already selected six contractors, and by January, they will receive the relevant documents. We expect the procurement process to be concluded by March 2025,” Pantaleo said.
Construction preparations will begin in April 2025, with the project scheduled to be completed by 2028. The 16-story building will be the tallest structure in Dodoma. Pantaleo noted that concerns about seismic activity have made many hesitant to build high-rise buildings in the region, but extensive evaluations have been conducted to ensure the building’s safety.
Dodoma Region Commissioneral, Rosemary Senyamule, commended NSSF for the investment, noting that it would stimulate economic activity, create jobs, and open doors for major conferences to be held in the city.
