GIPF launches 2023 annual report
Performance overview for year ended 31 March 2023
GIPF received a total of N$4.7 billion in contributions from its 97 512 active members during the 2023 financial period.
The Government Institutions Pension Fund (GIPF) launched its 2023 Integrated Annual Report (IAR) on Tuesday at Oshakati.
Speaking during the launch, Evans Maswahu, vice chairperson of the GIPF board of trustees, said the fund has been producing integrated annual reports since 2018.
Maswahu said the fund’s reporting process aligns with the principles and standards outlined in a number of international and local reporting standards.
He said the 2023 IAR ensures that stakeholders such as government, various state-owned entities, asset managers, employees, and the Namibian public are informed and remain abreast of the financial position and performance of the fund.
“GIPF has consistently upheld the core principles of good governance, accountability and transparency for over 33 years. As we proudly present our sixth IAR for 2023, we continue our tradition of reviewing GIPF’s strategy direction, business model, risks and opportunities and operational and governance performance,” Maswahu said.
Transparent overview
He said the 2023 report provides a concise, material and candid evaluation of their performance for the year ended 31 March 2023, while outlining the strategic roadmap of the fund to achieve strong financial performance and realise the fund’s vision.
The fund undertook an assessment of the risks, opportunities and outcomes that materially impacted value creation to expand the focus beyond the financial reporting boundaries.
This broader perspective, Maswahu said, enabled the fund to address the material interests of their stakeholders and consider the significant risks, opportunities and impacts associated with their activities across the short-term (less than 12 months), medium-term (one to four years) and long-term (beyond four years) horizons.
Billions in contributions
GIPF received a total of N$4.7 billion in contributions from its 97 512 active members during the 2023 financial period.
The fund's CEO, Martin Inkumbi, said N$6.9 billion was disbursed in benefits to active pensioners and annuitants, and the total fund asset value stood at N$151 billion.
“The fund’s investment return has increased by 7.7 percent to N$6.5 billion, compared to an increase of 10.8 percent in the previous year,” Inkumbi said.
– [email protected]
Speaking during the launch, Evans Maswahu, vice chairperson of the GIPF board of trustees, said the fund has been producing integrated annual reports since 2018.
Maswahu said the fund’s reporting process aligns with the principles and standards outlined in a number of international and local reporting standards.
He said the 2023 IAR ensures that stakeholders such as government, various state-owned entities, asset managers, employees, and the Namibian public are informed and remain abreast of the financial position and performance of the fund.
“GIPF has consistently upheld the core principles of good governance, accountability and transparency for over 33 years. As we proudly present our sixth IAR for 2023, we continue our tradition of reviewing GIPF’s strategy direction, business model, risks and opportunities and operational and governance performance,” Maswahu said.
Transparent overview
He said the 2023 report provides a concise, material and candid evaluation of their performance for the year ended 31 March 2023, while outlining the strategic roadmap of the fund to achieve strong financial performance and realise the fund’s vision.
The fund undertook an assessment of the risks, opportunities and outcomes that materially impacted value creation to expand the focus beyond the financial reporting boundaries.
This broader perspective, Maswahu said, enabled the fund to address the material interests of their stakeholders and consider the significant risks, opportunities and impacts associated with their activities across the short-term (less than 12 months), medium-term (one to four years) and long-term (beyond four years) horizons.
Billions in contributions
GIPF received a total of N$4.7 billion in contributions from its 97 512 active members during the 2023 financial period.
The fund's CEO, Martin Inkumbi, said N$6.9 billion was disbursed in benefits to active pensioners and annuitants, and the total fund asset value stood at N$151 billion.
“The fund’s investment return has increased by 7.7 percent to N$6.5 billion, compared to an increase of 10.8 percent in the previous year,” Inkumbi said.
– [email protected]
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