The Government Institutions Pension Fund (GIPF) says it invested N$1.58 billion in affordable housing and N$1.5 billion in mortgage financing over the past five years.
This has resulted in the construction of 7,840 houses and the servicing of 5,884 land plots across Namibia.
These investments form part of the N$9 billion injected into the Namibian economy through various projects and sectors.
GIPF has allocated significant funding across multiple funds and initiatives, including Preferred Management Services (Pty) Ltd with N$3.235 million, International Housing Solution with N$2.049 million, and Konigstein Affordable Housing Fund with N$1.458 million.
It has also allocated funding towards the Konigstein Capital Property Investment Fund with N$918 million and OMIG Tunga Real Estate Fund with N$180 million.
GIPF Chairperson Penda Ithindi emphasised the Fund’s commitment to addressing Namibia’s housing needs.
“Housing is a critical area of intervention for Namibia. The figures from the National Census highlight the significant demand in the housing sector. The Fund is making an impact, despite constraints in land servicing that limit housing development,” he said.
The housing and infrastructure investments have led to significant job creation, with thousands of employment opportunities generated.
According to the GIPF integrated annual report for the year ended March 2024, the breakdown of jobs created includes 2,037 jobs from the Konigstein Capital Property Investment Fund.
“589 jobs from the Konigstein Affordable Housing Fund, 229 jobs from the Ino Harith Namibia Infrastructure Fund, 637 jobs from Preferred Management Services (Pty) Ltd, and 560 jobs from International Housing Solution,” GIPF noted.
Land servicing has been another major focus, with Preferred Management Services (Pty) Ltd servicing 4,077 units, Ino Harith Namibia Infrastructure Fund 910 units, Konigstein Capital Property Investment Fund 433 units, OMIG Tunga Real Estate Fund 323 units, and Konigstein Affordable Housing Fund 141 units.
Regional distribution of investments in land servicing includes N$155 million in Erongo, N$137 million in Oshana, N$97 million in Zambezi, N$79 million in Omusati, N$68 million in Hardap, N$56 million in Kavango, and N$46 million in Karas.
Additionally, N$38 million in Oshikoto, N$33 million in Omaheke, N$15 million in Ohangwena, N$10 million in Kunene, and N$4 million in Rundu.
“The Fund’s investments are spread across different regions, ensuring equitable development and job creation. Although some areas receive larger allocations due to infrastructure needs and population density, no region is left out,” said Ithindi.
He added that GIPF’s investments align with national housing objectives and contribute significantly to infrastructure development and economic growth.
“We operate in a space that demands an integrated approach. We invest responsibly and subscribe to the principles of environmental, social, and governance (ESG) compliance,” Ithindi said.
