GIPF commits further N$500 million to housing, calls for access to land

The Government Institutions Pension Fund (GIPF) has allocated a further N$500 million towards housing development across Namibia, but says limited access to serviced land remains a major obstacle to investing the money and addressing the country's growing housing shortage.GIPF general manager for investments Immanuel Kadhila announced the additional allocation during the official handover of the Extension 16 housing development in Kuisebmond, Walvis Bay, which was financed by the pension fund and developed by PAM Tree Investments and Fillemon Mbago Investment CC.Kadhila said the GIPF board approved the additional funding last week and indicated that the fund was prepared to commit further resources to housing development, provided suitable land and development opportunities were available.“Our board has allocated a further N$500 million towards housing development across the country,” he said.However, Kadhila cautioned that the availability of investment capital would not, on its own, resolve the housing crisis, particularly when developers continued to face difficulties accessing land.“For that N$500 million to be fully invested, it requires strength. So we would like you to please give us access to land so we can deliver housing for the people,” he said.He said Namibia's estimated housing shortage had increased from approximately 80,000 homes in 2007 to about 300,000, while more than 200,000 Namibians were living in informal settlements.The rising cost of housing was another concern, with Kadhila noting that a decent home in many parts of the country now costs more than N$1.5 million, putting ownership beyond the reach of many working people.“This puts home ownership beyond the reach of many working Namibians, particularly those earning lower and middle incomes. There are many who earn less than N$2,000 a month. For many teachers, for nurses, and our uniformed men and women, essentially our members – if these numbers continue to look like this, then it means they will never own a house in their lives.”Kadhila said GIPF's primary responsibility remained safeguarding the retirement savings of public-sector employees, although its position as a long-term institutional investor also provided opportunities to support economic and social development.“It doesn't help to have members who retire with a lot of money, but they don't have any houses to live in or roads to drive their cars on,” he said.N$3.1bn invested Over the past five years, GIPF has invested approximately N$1.6 billion in affordable housing developments and a further N$1.5 billion in home-loan financing, bringing its combined investment in the two areas to N$3.1 billion.According to Kadhila, these investments have contributed to the construction of more than 7,800 houses, while more than 5,900 homes have been serviced during the same period.The pension fund's housing investments have included residential developments, serviced land and related infrastructure, as well as participation in the Königstein Affordable Housing Fund (KAHF), which focuses on providing homes within the financial reach of working Namibians.“KAHF had already delivered more than 1,100 houses and units across the country, with the current portfolio targeting between 1,600 and 1,700 units.”Despite these investments, Kadhila maintained that the shortage of serviced land and the construction of houses, commonly referred to as top structures, remained among the biggest constraints to expanding housing delivery.“Our problem is not capital in this country. Our problem is serviced land and top structures. Beyond existing projects, GIPF has identified a broader pipeline of between 5,000 and 10,000 houses it would like to support across Namibia.”He emphasised that the pension fund could not address the country's housing shortage without greater cooperation from government, local authorities, developers, fund managers, financiers and other institutional investors.Kadhila said local authorities had an important role in making land available and facilitating housing developments within their areas of jurisdiction, while the private sector and other investors needed to contribute additional financing.“We cannot go and develop in the local authority area when they are actually the ones who are supposed to be spearheading those developments. They [local authorities] have come on board. We need partners in the form of local authorities. We need partners in the form of developers. We need partners in the form of fund managers. But most importantly, it should not only be GIPF money. It should be everybody's money.”

GIPF commits further N$500 million to housing, calls for access to land

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Namibian Sun 2026-10-14

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GIPF commits further N$500 million to housing, calls for access to land

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Namibian Sun 2026-10-14

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