The Welwitschia Sovereign Wealth Fund has grown to N$460 million since its establishment in 2022, marking an increase of N$7 million from the N$453 million reported last month.
Bank of Namibia (BoN) Governor Johannes !Gawaxab confirmed the fund’s latest balance during the launch of the late Hage Geingob N$60 commemorative banknote.
“Through prudent management and strategic investment, the Welwitschia Fund will continue to serve as a cornerstone of Namibia’s economic resilience, empowering our people and safeguarding the nation’s wealth for years to come. Your Excellency, I am happy to report that the fund now stands at N$460 million from the N$270 million invested in 2022 when it was launched,” !Gawaxab said on Wednesday.
The Governor highlighted its growth as a reflection of late President Hage Geingob’s commitment to economic sustainability.
“Among his many achievements, he spearheaded the establishment of the Welwitschia Fund, Namibia’s sovereign wealth fund administered by the Bank of Namibia on behalf of the Ministry of Finance, ensuring that the wealth derived from our nation’s natural resources is preserved and utilised for the prosperity of future generations. This fund stands as a testament to his unwavering dedication to economic sustainability, social development, and intergenerational equity,” he said.
Launched with an initial investment of N$270 million, the fund has seen steady growth through prudent financial management and strategic investment.
The fund is benchmarked against the Norwegian Government Pension Fund Global, aligning it with international investment standards. It is structured into short- and long-term investments, with 70% allocated to equities and the remainder invested in fixed-income assets, real estate, and private equity. This diversified portfolio aims to maximize returns while effectively managing risks, according to the Bank of Namibia.
The BoN oversees the fund’s management, transparency, and accountability, ensuring it remains a vital instrument for Namibia’s economic stability and future prosperity.
