Africa-Press – Namibia. THE Government Institutions Pension Fund (GIPF) has invested approximately 50% of the fund’s value in Namibia, amounting to around N$75 billion.
This revelation was made by Prime Minister, Dr Saara Kuugongelwa-Amadhila, who highlighted GIPF as the largest investor in the Namibian economy. Speaking at the recent launch of GIPF’s Strategic Plan for 2023 to 2026, she disclosed that the fund’s assets have grown from a modest N$600 million to a substantial N$153 billion.
Dr Kuugongelwa-Amadhila also underscored that GIPF disbursed N$20 billion to beneficiaries over the past five years, with these monthly payments being crucial for sustaining their livelihoods. In addition, the fund extends retirement and ancillary benefits to approximately 98,000 civil servants and individuals serving in public institutions.
“The Fund acts as a catalyst for economic growth, investing in infrastructure, housing, renewable energy, and other strategic sectors, while delivering financial and social returns to Namibia,” she stated.
Considering this, she emphasised the importance of the GIPF strategic planning, adding that the strategic focus that the GIPF chooses to set their sights on has a material impact on the country as a whole.
The Chairperson of the fund, Nillian Mulemi, emphasized GIPF’s commitment to maintaining a member-focused approach. She explained that during the development of the new strategic plan, the fund conducted a comprehensive internal and external assessment. This involved studying and evaluating key source documents that provide relevant context to the Fund, leading to the identification of significant issues that the plan aims to address.
“Over the next three years, the GIPF will seek to deepen its hold over the areas in which it is excelling in, and strengthen the areas that require renewed focus and emphasis. This will all be done in line with the needs, interests and expectations of the member serving as the central driving factor. Our mandate remains unchanged, our mission remain unchanged, but our vision pivots slightly towards placing our member in the centre of our focus,” she added.
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