The Government Institutions Pensions Fund (GIPF), which has been searching for a new Chief Executive Officer/Principal Officer, has extended the contract of the current CEO, David Nuyoma, who was scheduled to retire this month, by two months.
“Considering the ongoing selection process and the requirement for the Fund to appoint a principal officer approved by the Registrar, the Board of Trustees has decided to appoint the incumbent, David Nuyoma, on a temporary fixed-term contract of two months. This appointment will continue until the selection and approval process is successfully completed,” said Nilian Mulemi, the fund’s Chairperson, on Friday.
The decision to extend Nuyoma’s contract aims to ensure stability, continuity, and statutory compliance within the fund.
Nuyoma’s employment contract had already been extended by six months, until June 2023.
The CEO’s tenure was originally scheduled to end in December, coinciding with his 60th birthday.
Nuyoma is widely recognized for his contribution to the growth of the Fund, which has seen its asset base expand nearly threefold from N$50 billion in 2013 to the current value of over N$145 billion.
