The Governor of Omusati says the region has benefitted from approximately N$67.1 million in investments from the Government Institutions Pension Fund (GIPF) channelled through First Capital, an entity involved in housing projects.
“This investment has resulted in the beautiful neighborhoods and homes of our teachers, administrative staff, police officers, and members of the defense force, thus we appreciate the setting up of GIPF in Outapi,” Governor of Omusati Erginus Endjala said at the opening of the N$6 million GIPF office in Outapi on Monday.
He said the office will result in reduced costs, distance, and time incurred by members and beneficiaries on travelling to other regions to receive and access services from the GIPF.
It was further underscored that the spacious facility embodies GIPF’s commitment to fostering creativity and collaboration among its employees, as it boasts the largest defined benefits pension fund and the single biggest investor in the Namibian economy, with assets valued at N$151 billion.
GIPF vice chairperson of the board of trustees, Evans Maswahu, said the construction of the office is an investment resulting from the fund’s commitment in 2022.
In addition, Maswahu said the construction created job opportunities during the construction phase for builders, painters, electricians, and plumbers,
“Since inception, the Fund has set deep footprints with 11 regional and four satellite offices spread across all 14 regions, meeting the needs and expectations of members who are not all based in Windhoek. The addition of the Outapi Regional Office is a result of the Fund’s strategic intent and mandate to provide retirement and ancillary benefits to members and their beneficiaries, this can only be achieved through regional presence and visibility,” said Maswahu.
“The Fund continues to create shared value and improve the quality of life of our members who are our prime beneficiaries. Our investments in various sectors and infrastructure such as this regional office are thus undertaken in a sustainable manner bringing about significant social change and economic development for the collective good of our people and our country.”
