GIPF applauded for fighting Covid-19

24 September 2021 | Economics

STAFF REPORTER

The Government Institutions Pension Fund (GIPF) is proud to announce its contribution towards the fight against Covid-19 through an investment into FabuPharm (Pty) Ltd. GIPF through its Unlisted Investment Portfolio via the special purpose vehicle, EOS Capital, has a 35% shareholding and invested over N$7.8 million into FabuPharm. The pharmaceutical is located in Otjiwarongo, Otjozondjupa Region. The pharmaceutical manufacturer produces affordable and quality pharmaceutical products, not only for Namibia, but for international exports as well.

“We are particularly pleased to see that some of our unlisted investments in the pharmaceutical, healthcare, detergents, financial services, and food production, have meaningfully filled the gap when the country could not get supplies from the region and abroad during the lockdown,” said David Nuyoma, GIPF chief executive officer (CEO).

FabuPharm among other drugs, manufactures immune boosters and other supplements, which have proven to be exceptional in boosting the immunity of Namibians in the fight against Covid-19. Over the years, they expanded into a fully-fledged pharmaceutical manufacturer producing over 150 different products in nine product categories. Namely internal medicines (registered products), internal products (supplementary unregistered), internal veterinary products, external products (topical treatments), skin care creams, disinfectant products, external products and speciality products.

“GIPF designed its Covid-19 assistance focusing on medium to long-term solutions and this is one of several investments towards investing into the production of essential goods and services not only for our members but for the Nation at large,” stated Nuyoma.

GIPF appeals to all its members and the public to watch a special production and testimonies on the impact of the FabuPharm (Pty) Ltd investment on One Africa, NBC TV and on all GIPF social media platforms between 27 September 2021 to 08 October 2021.

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