Suspended GIPF manager back at work

OGONE TLHAGE



WINDHOEK

Government Institutions Pension Fund of Namibia (GIPF) investment manager Cornville Britz, who was suspended in July 2020, is now back at work.

At the time, Britz’s suspension was tied to performance-related issues, but this had not been verified by CEO David Nuyoma, who cited the matter as being confidential.

Also forming part of the suspension were claims of a conflict of interest between RisCura, the company that provided the GIPF with advisory and investment accounting services at the time of Britz’s suspension.

The fund denied the suspension despite an internal memorandum seen by The Namibian - which reported on the matter at the time - indicating that the investment manager had been suspended for three months.

It is not clear whether Britz's suspension was connected to the RisCura conflict of interest saga.

Internal matter

Speaking to Namibian Sun, Nuyoma said Britz had been cleared to return to work.

“Yes, Mr Britz has been back for quite some time,” he said.

Nuyoma would not divulge the outcome of an investigation into what led to Britz’s suspension.

“It is an internal matter and it is not really public information,” the CEO said.

Industry players have often accused RisCura of advising the GIPF to invest in portfolios where it [RisCura] earns commission. RisCura declined to comment and referred questions to the GIPF, The Namibian reported.