GIPF
GIPF

GIPF pays out N$20bn in five years

Invests 50% of value
Jemima Beukes
Over the last five years, the Government Institutions Pension Fund (GIPF) has paid out N$20 billion to its beneficiaries.

This according to Prime Minister Saara Kuugongelwa-Amadhila, who last week commended the fund for investing about 50% of its value - which equates to about N$75 billion - in Namibia, making it the largest investor in the Namibian economy.

Speaking at the launch of GIPF’s 2023-2026 strategic plan, she pointed out that that the fund has about 98 000 members and pays out monthly annuity payments to over 48 000 annuitants who are pensioners and/or dependents of former members.

“I am glad to note that the fund is a catalyst of growth of our economy, being an investor in infrastructure, housing, renewable energy and other strategic sectors,” she said.

Corporate citizen of note

According to her, GIPF has become a corporate citizen of note, producing strong financial growth over the past three decades and having stabilised as a practitioner of good and transparent governance.

“Therefore, it is pleasing to see that these efforts are being formalised, documented and directed in a specific direction in a manner that is clear for all stakeholders and citizenry to see.

“In the spirit of transparency and disclosure, GIPF has chosen to let all people from all walks of life into their strategic intentions over the next three years. As an entity with such wide-reaching impact, this is an admirable and welcomed move,” Kuugongelwa-Amadhila said.

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Namibian Sun 2024-04-19

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European Championships Qualifying: Southampton 3 vs 0 Preston North End English Championship: Southampton 3 vs 0 Preston North End Katima Mulilo: 17° | 34° Rundu: 17° | 34° Eenhana: 18° | 35° Oshakati: 20° | 35° Ruacana: 18° | 35° Tsumeb: 19° | 33° Otjiwarongo: 17° | 31° Omaruru: 19° | 34° Windhoek: 17° | 31° Gobabis: 18° | 31° Henties Bay: 17° | 23° Wind speed: 26km/h, Wind direction: S, Low tide: 07:25, High tide: 13:40, Low Tide: 19:24, High tide: 01:48 Swakopmund: 16° | 19° Wind speed: 30km/h, Wind direction: SW, Low tide: 07:23, High tide: 13:38, Low Tide: 19:22, High tide: 01:46 Walvis Bay: 19° | 26° Wind speed: 36km/h, Wind direction: SW, Low tide: 07:23, High tide: 13:37, Low Tide: 19:22, High tide: 01:45 Rehoboth: 18° | 31° Mariental: 22° | 33° Keetmanshoop: 23° | 35° Aranos: 20° | 32° Lüderitz: 18° | 34° Ariamsvlei: 23° | 37° Oranjemund: 15° | 27° Luanda: 27° | 30° Gaborone: 19° | 32° Lubumbashi: 17° | 26° Mbabane: 15° | 28° Maseru: 11° | 26° Antananarivo: 13° | 25° Lilongwe: 16° | 26° Maputo: 20° | 31° Windhoek: 17° | 31° Cape Town: 16° | 21° Durban: 18° | 28° Johannesburg: 16° | 28° Dar es Salaam: 24° | 29° Lusaka: 18° | 28° Harare: 15° | 28° Currency: GBP to NAD 23.66 | EUR to NAD 20.36 | CNY to NAD 2.64 | USD to NAD 19.1 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.34 | EGP to NAD 0.39 | KES to NAD 0.14 | NGN to NAD 0.02 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.64 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 133.87 | USD to AOA 832.83 | USD to BWP 13.88 | USD to EGP 48.28 | USD to KES 132.98 | USD to NGN 1147.53 | USD to ZAR 19.1 | USD to ZMW 25.65 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 73271.44 Up +0.38% | Namibian Stock Exchange (NSX) Overall Index 1531.99 Up +0.70% | Casablanca Stock Exchange (CSE) MASI 13455.65 Up +0.53% | Egyptian Exchange (EGX) 30 Index 28332.65 Down -4.5% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 393.01/OZ UP +0.55% | Copper US$ 4.47/lb UP +1.14% | Zinc US$ 2 857.90/T UP 1.28% | Brent Crude Oil US$ 87.48/BBP UP +0.37% | Platinum US$ 930.36/OZ DOWN -0.0062 Sport results: European Championships Qualifying: Southampton 3 vs 0 Preston North End English Championship: Southampton 3 vs 0 Preston North End Weather: Katima Mulilo: 17° | 34° Rundu: 17° | 34° Eenhana: 18° | 35° Oshakati: 20° | 35° Ruacana: 18° | 35° Tsumeb: 19° | 33° Otjiwarongo: 17° | 31° Omaruru: 19° | 34° Windhoek: 17° | 31° Gobabis: 18° | 31° Henties Bay: 17° | 23° Wind speed: 26km/h, Wind direction: S, Low tide: 07:25, High tide: 13:40, Low Tide: 19:24, High tide: 01:48 Swakopmund: 16° | 19° Wind speed: 30km/h, Wind direction: SW, Low tide: 07:23, High tide: 13:38, Low Tide: 19:22, High tide: 01:46 Walvis Bay: 19° | 26° Wind speed: 36km/h, Wind direction: SW, Low tide: 07:23, High tide: 13:37, Low Tide: 19:22, High tide: 01:45 Rehoboth: 18° | 31° Mariental: 22° | 33° Keetmanshoop: 23° | 35° Aranos: 20° | 32° Lüderitz: 18° | 34° Ariamsvlei: 23° | 37° Oranjemund: 15° | 27° Luanda: 27° | 30° Gaborone: 19° | 32° Lubumbashi: 17° | 26° Mbabane: 15° | 28° Maseru: 11° | 26° Antananarivo: 13° | 25° Lilongwe: 16° | 26° Maputo: 20° | 31° Windhoek: 17° | 31° Cape Town: 16° | 21° Durban: 18° | 28° Johannesburg: 16° | 28° Dar es Salaam: 24° | 29° Lusaka: 18° | 28° Harare: 15° | 28° Economic Indicators: Currency: GBP to NAD 23.66 | EUR to NAD 20.36 | CNY to NAD 2.64 | USD to NAD 19.1 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.34 | EGP to NAD 0.39 | KES to NAD 0.14 | NGN to NAD 0.02 | ZMW to NAD 0.74 | ZWL to NAD 0.04 | BRL to NAD 3.64 | RUB to NAD 0.2 | INR to NAD 0.23 | USD to DZD 133.87 | USD to AOA 832.83 | USD to BWP 13.88 | USD to EGP 48.28 | USD to KES 132.98 | USD to NGN 1147.53 | USD to ZAR 19.1 | USD to ZMW 25.65 | USD to ZWL 321 | Stock Exchange: JSE All Share Index 73271.44 Up +0.38% | Namibian Stock Exchange (NSX) Overall Index 1531.99 Up +0.70% | Casablanca Stock Exchange (CSE) MASI 13455.65 Up +0.53% | Egyptian Exchange (EGX) 30 Index 28332.65 Down -4.5% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 393.01/OZ UP +0.55% | Copper US$ 4.47/lb UP +1.14% | Zinc US$ 2 857.90/T UP 1.28% | Brent Crude Oil US$ 87.48/BBP UP +0.37% | Platinum US$ 930.36/OZ DOWN -0.0062