The Government Institutions Pension Fund (GIPF) has invested nearly N$25 million in Kavango West region as part of its shared value creation strategy, The Brief has learnt.
Nilian Mulemi, Chairperson of the GIPF board of trustees said the fund had provided N$13 million in funding for Renewable Microfinance loans and N$11.5 million in housing finance in the region.
“We made a conscious decision to increase our national footprint to ensure our active members as well as annuitants in this beautiful town and region can access our services conveniently without travelling daunting kilometres of which the nearest GIPF office is 140 kilometres away in Rundu,” she said at the official opening of the fund’s satellite office in Nkurenkuru.
The pension fund is establishing various offices in different regions as part of drive to conveniently provide access to its services in all the country’s regions.
“I am pleased to announce that this is indeed the beginning of three office openings. Tomorrow (Friday), 11 March 2022 the Fund will be opening another satellite office in Grootfontein and the last one on 28 March 2022 in Opuwo,” Mulemi said.
She added that GIPF was due to implement a new and modern biometrics enrolment and verification solution for its various annuitants.
“The new Biometrics Solution will have capabilities to provide enrolment and verification services on different devices and platforms. This will enable our members to verify remotely in the comfort of their homes, without having to physically come to GIPF offices who at times travel very long distances just for verification. With the easing of Covid-19 protocols the Fund aims to roll out the new solution in the new financial year from April 2022,” she said.
The fund in February suspended the use of the biometric verification security feature to verify its members, citing COVID-19 concerns.
A biometrics verification system identifies individuals by comparing a person’s thumbprint to information stored on a database.
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 fund’s total asset base stood at N$135.4 billion by the end of September 2021, a growth attributed to its liability-driven investment strategy.
