GIPF records N$12.5bn asset growth in 10 months

March 14, 2022

The Government Institutions Pension Fund (GIPF) assets surged by N$12.5 billion to N$148 billion in the 10 months to 31 January 2022.

Nilian Mulemi, Chairperson of the GIPF board of trustees, said while COVID-19 and the current situation in Ukraine has caused uncertainty, the Fund adapted rapidly to prevailing economic conditions.

“Driving responsible investment practices is a critical part of our commitment to good governance and to our vision of being a leading and model pension fund globally,” she said, adding that GIPF’s robust investment strategy is now bearing fruit.

Mulemi, who was speaking during the official opening of the GIPF Grootfontein (satellite) regional office, said the fund had invested a total of N$956.6 million in the Otjozondjupa region.

Of the investments made by the GIPF in the region, over N$20 million was invested in the solar rooftop at the Grootfontein Mall, N$91 million in the Grootfontein Shopping Mall and over N$253.1 million in financing 451 home loans.

“The Fund continues to demonstrate consistently high performance across its four strategic themes of Sustainability, Excellent Service, Outcomes Based Governance, and establishing itself as an employer of choice. This is possible through continuous monitoring of the external environment and trends that have an impact on the ability of the Fund to create value,” she said.

The GIPF has also invested in UNISTRAT Investment Property which started servicing land in Otjiwarongo between 2017 and 2018, and commenced building in August 2019 ,and its investment to date covers 3 extensions inclusive of extension 12, through the Namibia Infrastructure Fund administered by Ino Harith Capital.

As of the last financial year, the Fund had serviced 5,127 plots, constructed 3,721 housing units and financed 2,468 housing loans.

The GIPF is a statutory pension fund which provides guaranteed pension and related benefits to over 101 027 civil servants, and employees of participating employers in Namibia.

The pension fund is on a drive to establish various offices in different regions as part of ambition to conveniently provide access to its services in all the country’s regions.

 

 

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Last modified on Wednesday, 16 March 2022 17:52

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