Namibia’s Welwitschia Sovereign Wealth Fund assets have grown by N$193 million since its establishment in 2022, reaching a total balance of N$453 million, according to official data.
Bank of Namibia Governor Johannes !Gawaxab confirmed the fund’s growth.
The fund is benchmarked against the Norwegian Government Pension Fund Global, ensuring alignment with international investment standards.
“So in terms of the latest balance for the fund, that currently sits at around N$453 million,” !Gawaxab stated, highlighting its resilience and effective investment strategy despite global economic uncertainties.
Initially capitalised with N$260 million in seed capital, the fund had grown to N$440 million by August 2023.
Structured into short- and long-term investments, the fund allocates 70% of its assets to equities, with the remainder invested in fixed-income assets, real estate, and private equity. This diversified portfolio aims to optimise returns while managing risk effectively, according to the Bank of Namibia.
Established in May 2022, the Welwitschia Fund is designed to safeguard the Namibian economy against fluctuations and ensure the equitable distribution of natural resource benefits. The Bank of Namibia oversees its management, ensuring transparency and accountability in its operations.
Approximately 2.5% of the intergenerational fund is allocated to infrastructure projects that promote socio-economic benefits, including improved public services and job creation, contributing to national development and stability.
