The Tunga Real Estate Fund has reached N$650 million in committed capital, with the Government Institutions Pension Fund (GIPF) accounting for 99% of the investment.
The fund has distributed N$265.43 million to GIPF to date, reflecting progress in capital deployment, portfolio management and asset exits. The latest dividend distribution of N$21.6 million was handed over on Friday.
Tunga Real Estate Fund Chairperson Sara Katiti said the fund has mobilised significant capital into Namibia’s property market while generating returns for investors.
“Since inception, the fund has mobilised significant capital into Namibia’s property sector, with more than N$650 million committed by GIPF. Along this journey, it has delivered distributions, completed key exits and continued to enhance the value of its remaining portfolio,” Katiti said.
Old Mutual Investment Group Namibia Managing Director Sepo Haihambo said the fund’s performance demonstrates the potential of alternative investments to deliver both financial returns and economic impact.
“Alternative investments are inherently long-term and require both skill and strong governance to ensure the viability of those investments and their alignment with, and contribution to, national development priorities,” Haihambo said.
She added that the fund’s investments have supported a range of developments across the property sector, including retail centres, office developments and residential housing projects.
“Our platform continues to demonstrate progress in capital deployment, portfolio management and exits, with measurable distributions that reinforce confidence in unlisted investments in the country,” Haihambo said.
GIPF Chief Executive Officer Martin Inkumbi said the fund’s development mandate aligns closely with Namibia’s housing needs and broader economic objectives.
“Since its establishment in 2011, the fund has grown to N$650 million in committed capital, with GIPF as the 99% anchor investor and Old Mutual Investment Group Namibia serving as fund manager and a 1% co-investor. The fund has consistently delivered sustainable financial returns alongside meaningful developmental impact,” Inkumbi said.
He said the fund’s focus on affordable housing demonstrates how institutional capital can be deployed to address national development challenges while generating returns for pension fund members.
The fund’s investments in housing, commercial property and retail developments have contributed to job creation, supported local businesses and expanded economic activity, reinforcing the role of private capital in supporting Namibia’s development agenda.
