GIPF invests millions in blueberry project

07 February 2020 | Business

The Government Institutions Pension Fund (GIPF) has invested N$90 million in a local company, Konigstein Capital, for a blueberry agricultural project at the Mashare Irrigation Scheme.

Konigstein Capital has a 25-year lease agreement to operate from the scheme located in the Kavango East Region, and is expected to grow 20 -150 hectares of blueberries for export purposes.

The pension fund made an initial investment of N$27.5 million with the company in April 2018 for the production of wheat, maize and potatoes on 120 to 460 hectares of arable land at the scheme.

Albert Basson from Konigstein Capital told a GIPF delegation that toured the project this week that by August 2018, the project had already seen its first harvest of maize, wheat and potatoes.

The GIPF delegation comprised the chief executive officer David Nuyoma, members of its board of trustees, as well as staff members.

Hitting the market

The recent investment will allow for blueberries to be produced for the first time in Namibia, with the first harvest expected in August this year.

“We decided to plant blueberries because it will create maximum jobs for the country and the region, as well as foreign currency into diversified markets,” Basson explained.

With the blueberries, Namibia can tap into its existing infrastructure to export the fruit. It will however also be seen on local retail shelves, Basson said.

GIPF trustee Goms Menette lauded the investment, saying the GIPF’s money is in good hands and that they expect good returns from the partnership. - Nampa

Similar News

 

Heineken South Africa to cut jobs

3 days ago - 22 January 2021 | Business

The South African arm of Heineken will cut 70 jobs and put new investments on hold in the country due to the significant impact of...

President parks Namdia report

3 days ago - 22 January 2021 | Business

OGONE TLHAGE AND MATHIAS HAUFIKUState House this week floundered on questions why President Hage Geingob has not acted on a damning report dragging two former...

African consumers could face rice shortages

3 days ago - 22 January 2021 | Business

NAVEEN THUKRAL, RAJENDRA JADHAV AND AYENAT MERSIETightening global supplies of basic foodstuffs and disruptions to shipping caused by the coronavirus pandemic are driving up the...

The need to provide clients with the best service

3 days ago - 22 January 2021 | Business

Monique AdamsEstablished in April 2020 and operating in Windhoek, the cleaning company specialises in commercial and residential cleaning. They use cleaning products that are environmentally...

Investing in renewable energy

3 days ago - 22 January 2021 | Business

Monique AdamsEtango Power Engineering was founded by Joseph Kapofi in a joint venture with two other members, namely Samuel Kapofi and Shipanga Ayehe.Born and raised...

COMPANY NEWS IN BRIEF

3 days ago - 22 January 2021 | Business

Tesla Q4 registrations in California jump 63% Tesla Inc's vehicle registrations in the US state of California jumped nearly 63% during the fourth quarter compared...

NIPA keen to restore trust in the industry

4 days ago - 21 January 2021 | Business

PHILLEPUS UUSIKUEarlier this month, newly elected Mayor of the City of Windhoek (CoW) Job Amupanda wrote to the Public Accountants’ and Auditors’ Board (PAAB) requesting...

SA's Foschini Group posts higher Q3 sales

4 days ago - 21 January 2021 | Business

South African fashion retailer The Foschini Group (TFG) reported a 5.5% rise in third-quarter turnover on Tuesday, thanks to its acquisition of budget clothing retailer...

COMPANY NEWS IN BRIEF

4 days ago - 21 January 2021 | Business

Zambia takes US$1.5 bln debt to buy GlencoreZambia's state mining investment arm ZCCM-IH has agreed to buy Glencore's majority stake in Mopani Copper Mines in...

Trustco scrambles to meet JSE deadline

5 days ago - 20 January 2021 | Business

PHILLEPUS UUSIKUTrustco Holdings Limited is scrambling to finalize and submit its financials as a Johannesburg Stock Exchange’s deadline, less than two weeks away, looms. JSE...

Latest News

Cites drawn into Namibian elephant...

5 hours ago | Environment

ELLANIE SMITWINDHOEKAn international wildlife organisation, the Born Free Foundation, has now also voiced its concern and expressed opposition against Namibia's sale of 170 elephants by...

Unemployed teachers hand over petition

5 hours ago | Education

NAMPAWINDHOEKA group of unemployed graduate teachers on Thursday handed over a petition to the Office of the Prime Minister (OPM) in which they demand that...

NQA concerned about current accreditation...

5 hours ago | Education

NAMPAWINDHOEKThe Namibia Qualifications Authority's (NQA) head of accreditation audit and assessment, Polli Andima, has said the current legislation regarding accreditation of institutions poses a challenge...

Human remains discovered at Kasoro...

5 hours ago | Crime

NAMPARUNDUHuman remains believed to be of a man were discovered last Friday at Kasoro village in the Mpungu constituency of the Kavango West Region.The regional...

Rugby clubs to start training

5 hours ago | Sports

LIMBA MUPETAMIWINDHOEKPresident of the Namibia Rugby Union Corrie Mensah says local rugby clubs need to enforce Covid-19 regulations when they start training.Mensah, who spoke to...

Chan won't affect Samaria's contract...

5 hours ago | Sports

TOIVO NDJEBELAWINDHOEKNamibia's shambolic performance in the ongoing Chan competition will not play a major role in whether to extend the contracts of the Brave Warriors'...

Education employees value their labour...

3 days ago - 22 January 2021 | Economics

PHILLEPUS UUSIKUDuring the third quarter of 2020, the Government Wage Index (GWI) stood at 130.4 basis points, posting a marginal increase of 0.9 percentage points...

Heineken South Africa to cut...

3 days ago - 22 January 2021 | Business

The South African arm of Heineken will cut 70 jobs and put new investments on hold in the country due to the significant impact of...

The true test of leadership:...

3 days ago - 22 January 2021 | Columns

Anthony Mitchell Leadership is challenging at the best of times, but how you lead during an environment of complexity and ambiguity is the real test...

Load More