Namibia's pension fund has N$5.1 billion ready for projects
The Government Institutions Pension Fund (GIPF) has committed N$28.2 billion to unlisted investments, with N$23.1 billion already invested.
The Government Institutions Pension Fund (GIPF) has N$5.1 billion still available for investment in suitable Namibian projects, even as the country grapples with unemployment, a housing crisis and infrastructure gaps. Board chairperson Penda Ithindi disclosed the figures at the recent GIPF Investment Symposium.
Ithindi said the fund will not compromise its investment principles: projects must be financially viable, properly governed and sufficiently secured. He said the money belongs to thousands of Namibian pension contributors and cannot be spent to satisfy political promises.
The commentary calls for a dedicated national project preparation facility, bringing together the ministry of finance, the National Planning Commission, development finance institutions, local authorities and private-sector experts. It would identify viable projects, prepare business cases and secure approvals, with housing and urban infrastructure named as priorities.
Why it mattersDevelopers who can produce bankable housing, energy or water projects stand to gain access to the pension fund's remaining N$5.1 billion.