Veterans at risk without long-term fund, warns Aupindi

Namibia is potentially missing out on tens of billions in sustainable support for its veterans, with annual allocations being spent rather than invested, warns Member of Parliament Tobie Aupindi.

Speaking during the budget debate for the Defence and Veteran Affairs Ministry, Aupindi said the absence of a properly capitalised Veterans Fund has turned decades of government spending into a short-term, “spend-as-you-go” exercise, denying veterans the long-term financial security they deserve and costing the nation billions in lost investment returns.

Grants for war veterans dominated the ministry’s spending in the 2025/2026 financial year, with more than N$1 billion disbursed to benefit 23 694 beneficiaries by March this year, representing 68.4% of the ministry’s total allocation.

Deputy Minister of Defence and Veterans Affairs Charles Mubita, delivering a speech on behalf of Minister Frans Kapofi, said the veterans’ programme received N$1.5 billion, of which 94.2% had been effectively utilised.

“This expenditure was primarily directed towards initiatives aimed at enhancing veterans’ welfare and preserving the history of the liberation struggle for future generations,” Mubita said.

He detailed that N$313 million was used to support 1 840 veterans through individual veterans’ projects (IVPs), while a further N$30 million was allocated for once-off gratuities to 609 beneficiaries who were granted veteran status following successful appeals.

By law, beneficiaries are those recognised as veterans of the liberation struggle, defined as individuals who “consistently and persistently participated in the liberation struggle” politically, militarily, diplomatically, or through underground activities.

Once-off gratuities

Looking ahead, Kapofi said that for the 2026/2027 financial year, the programme has been allocated N$1.3 billion. The funding will cover monthly subventions, welfare grants for ex-PLAN combatant veterans, once-off gratuities, IVPs, medical and psychosocial support, as well as the operations of the Veterans Board and the National Honours Advisory Committee.

Aupindi warned that the absence of a properly capitalised fund has forced a consumption-type model that prioritizes immediate spending over wealth creation. “Instead of just spending billions of dollars, we could have, had we done this from day one, and we can still correct it, built a permanent financial asset that pays veterans indefinitely,” he said.

He outlined the potential of a well-capitalized fund, noting it could operate at a global level and generate high-yield returns.

“Based on market trends, such a fund could today be in the region of N$20 to N$40 billion dollars, earning roughly N$2 to N$4 billion in annual returns, covering veterans’ benefits without relying fully on the national budget,” Aupindi said.

The MP also highlighted the fiscal advantages of such a fund.

“Currently, without such a fund, support depends entirely on annual appropriations by the National Assembly and Parliament, and the government misses the opportunity to generate returns, rather than spending everything immediately. A self-sustaining funding pool would allow veterans to be supported from investment income, reducing pressure on the fiscus,” he explained.

Aupindi emphasized the importance of intergenerational equity, arguing that a permanent fund would allow predictable financial flows and enable proper planning for both veterans and the state.

“The amounts involved are significant. If you look at what we are dealing with now, it’s N$1 billion plus, it is very, very large.

"Proper capital preservation would create intergenerational equity, because funds would be flowing with predictable returns, allowing people to plan their financial strategies and consumption responsibly, and ensure proper financial management,” he said.

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