GIPF pays out N$20bn in five years
Invests 50% of value
Over the last five years, the Government Institutions Pension Fund (GIPF) has paid out N$20 billion to its beneficiaries.
This according to Prime Minister Saara Kuugongelwa-Amadhila, who last week commended the fund for investing about 50% of its value - which equates to about N$75 billion - in Namibia, making it the largest investor in the Namibian economy.
Speaking at the launch of GIPF’s 2023-2026 strategic plan, she pointed out that that the fund has about 98 000 members and pays out monthly annuity payments to over 48 000 annuitants who are pensioners and/or dependents of former members.
“I am glad to note that the fund is a catalyst of growth of our economy, being an investor in infrastructure, housing, renewable energy and other strategic sectors,” she said.
Corporate citizen of note
According to her, GIPF has become a corporate citizen of note, producing strong financial growth over the past three decades and having stabilised as a practitioner of good and transparent governance.
“Therefore, it is pleasing to see that these efforts are being formalised, documented and directed in a specific direction in a manner that is clear for all stakeholders and citizenry to see.
“In the spirit of transparency and disclosure, GIPF has chosen to let all people from all walks of life into their strategic intentions over the next three years. As an entity with such wide-reaching impact, this is an admirable and welcomed move,” Kuugongelwa-Amadhila said.
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This according to Prime Minister Saara Kuugongelwa-Amadhila, who last week commended the fund for investing about 50% of its value - which equates to about N$75 billion - in Namibia, making it the largest investor in the Namibian economy.
Speaking at the launch of GIPF’s 2023-2026 strategic plan, she pointed out that that the fund has about 98 000 members and pays out monthly annuity payments to over 48 000 annuitants who are pensioners and/or dependents of former members.
“I am glad to note that the fund is a catalyst of growth of our economy, being an investor in infrastructure, housing, renewable energy and other strategic sectors,” she said.
Corporate citizen of note
According to her, GIPF has become a corporate citizen of note, producing strong financial growth over the past three decades and having stabilised as a practitioner of good and transparent governance.
“Therefore, it is pleasing to see that these efforts are being formalised, documented and directed in a specific direction in a manner that is clear for all stakeholders and citizenry to see.
“In the spirit of transparency and disclosure, GIPF has chosen to let all people from all walks of life into their strategic intentions over the next three years. As an entity with such wide-reaching impact, this is an admirable and welcomed move,” Kuugongelwa-Amadhila said.
[email protected]
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