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GIPF evaluates N$175m energy sector opportunities in Hardap Region

June 01, 2023

The Government Institutions Pension Fund (GIPF) is currently assessing investment opportunities in the energy sector of the Hardap Region, with a total value of N$175 million.

According to Nillian Mulemi, the Chairperson of the Fund, the evaluation process is expected to be completed within 12 months.

The Fund has already invested N$177 million in various projects in the region.

"If the results are favorable, the additional investment of N$175 million will be made in the region, in addition to the previously mentioned N$177 million. These funds have contributed to the development of the Rehoboth shopping center, the installation of a solar rooftop at the Rehoboth shopping centre, as well as land servicing and housing developments," stated Mulemi during the official opening of the GIPF Mariental satellite office.

Mulemi expressed her delight in celebrating the Fund's increased national footprint.

The office will serve as a one-stop destination for GIPF services, offering guaranteed pension benefits and ensuring timely and accurate payouts to its resident members.

"Our new Mariental satellite office is a testament to our commitment to member-centricity and our vision to be a globally leading pension fund, we are determined to bring our services closer to our valued members, eliminating the need for them to travel long distances," said  Mulemi.

The GIPF Strategic Plan 2023-2026, launched on 1 April 2023, focuses on deepening the strategy towards member-centricity.

Under this plan, GIPF aims to enhance the quality of services provided and ensure a seamless experience for its members.

The Fund's strategic pillars include sustainability, member centricity, outcomes-based governance, risk, ethics, and compliance, as well as employee and organisational capacity.

She noted that the Mariental satellite office will offer a range of services, including pension inquiries, advice, biometric registration and verification, benefit and income statements, and submission of claim forms.

"To further enhance accessibility, GIPF's outreach program, the Pension on Wheels Mobile Van, will conduct regular member education sessions in areas where offices are not yet established. The Fund plans to acquire more vans to reach members in remote areas across Namibia," she said. 

Amid the celebration, Mulemi emphasised the importance of keeping member records up to date. She urged members to ensure their personal details, beneficiary nominations, and admission status are regularly updated to avoid delays in the processing of claims.

In addition to the investment in the Mariental region, GIPF continues to drive responsible investment practices. The Fund's assets currently stand at N$157 billion as of May 2023, supporting the payment of benefits to its members. With the Fund reaching maturity, GIPF remains committed to investing strategically to meet its liabilities.

"The inauguration of the new GIPF Mariental satellite office marks a significant milestone in the Fund's journey towards member-focused service delivery. With improved benefit payment turnaround times and a growing presence nationwide, GIPF reaffirms its commitment to excellence and meeting the expectations of its valued members," said Mulemi.






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Last modified on Friday, 02 June 2023 17:28