GIPF pays tribute to workers

WINDHOEK DENVER ISAACS

With over N$61 billion in assets declared earlier this year, the Government Institutions Pension Fund (GIPF) is arguably the country's biggest player in the financial services sector.
Unlike other companies in the field it acknowledges that the company's assets actually belong to its membership of approximately 100 000 workers and 33 000 pensioners.
The fund currently manages one of the biggest payrolls in the country for its members and beneficiaries, totaling over N$1,1 billion per year.
As Namibia joins the rest of the world to celebrate international Workers Day, the GIPF is adding its voice to those celebrating the achievements of the working class to date.
We wish to thank the Namibian workers for making this massive investment into social protection and the dignity of many households in Namibia, GIPF acting Manager for Marketing and Corporate Communication Elvis Nashilongo said.
Our promise on Workers' Day is the constant review of the fund's investment strategy in order to keep pace with the current turbulent market conditions, in the interests of the mandate bestowed on us by members of the fund. We aim to ensure that when those who have made a contribution to our fund retire, that retirement will not be synonymous with poverty, he says.
There are still a lot of challenges we need to overcome, challenges such as poverty, unemployment and achieving national prosperity, but we are glad to acknowledge that in Namibia we have a system of governance that is geared towards ensuring an effective safety net for all citizens.
Nashilongo further extended his tribute to the Ministry of Finance, which he credited for initiating the national Financial Literacy Campaign. He said this campaign would go a long way to developing the financial knowledge of the country's workers.
I am happy to say that I form a part of this group, which looks at improving the level of financial literacy among our people and reaching the country's financial inclusion targets, he said.
Among the future benefits of the programme, he suggests, will be increased activity on the local stock exchange, which he says is still relatively small and inactive.
The Namibian Stock Exchange (NSX) is still small, but its growth will go hand-in-hand with Namibians' growing financial literacy, he said, adding that he was keen to see more companies being listed on the NSX.
Nashilongo also thanked one of the organisation's staunched critics, the Public Service Committee (PSC) for their role in its affairs.
We don't see any pressure group as a rival, or to our detriment. Any opinion raised for or against us, is a move to help us reach our goals, he said.