GIPF pumps millions into housing at Eenhana

Unlisted investment programme

28 February 2019 | Infrastructure

The Government Institutions Pension Fund (GIPF) has invested N$17.4 million in housing aimed at low- and medium- income groups at Eenhana in the Ohangwena region.

According to the regional governor, Usko Nghaamwa, the housing development in Extension 6 will consist of 271 houses and will greatly contribute towards the housing shortage in the region.

“The GIPF through its unlisted investments has been implementing some of the Harambee Prosperity Plan [HPP] pillars such as social progress and infrastructure development by delivering housing and servicing land for their members,” Nghaamwa in a speech read on his behalf at the official opening ceremony of the new GIPF office at the town on Tuesday.

Speaking at the same event, the chairperson of the GIPF board of trustees, Goms Menette, said Formosa Island Investment is the developer of the project.

A total of 124 erven have also been serviced, while 85 houses in phase one and 97 houses in phase two have been sold to date.

“This development came as a requirement to provide low-cost and decent housing to accommodate low-, middle- and high-income earners in a bid to ease land and housing shortages within the town of Eenhana,” Menette said.

The GIPF aims to construct 30% of the 20 000 housing units envisaged under the HPP before its period ends.

Office

The opening of a GIPF office at the town means fund members in Eenhana, Helao Nafidi and Okongo no longer have to travel to Ondangwa and Oshakati.

Clients will, amongst others, be able to get advice on their pensions, do biometric registration and verification, receive benefit and income statements and submit supporting documents at the new office.

Menette said the growing population of the region necessitated the GIPF increasing its footprint.

The branch has been operational since January this year and has so far aided over 500 members.

“As we continuously strive to build lasting confidence in our members and stakeholders, we need to address the challenges they face, such as access to services at their convenience, as well as poor internet connection in some parts of the country, which makes it difficult to connect to GIPF systems,” Menette said.

The GIPF’s membership currently stands at over 135 000 in the form of active members and annuitants. - Nampa