The state pension fund, the Government Institutions Pension Fund (GIPF) has revealed that a total of N$13.5 billion has been allocated to ‘Alternative Investments’ held through external managers.
The GIPF disclosed during a stakeholder consultative meeting held last week that it has committed capital to 22 fund managers to manage the investments.
The fund also disclosed that it has direct investments in an SME Bank Unlisted Debt Instrument, where a possible impairment is expected following the liquidation of the bank last year.
The fund is also invested in Etosha Fisheries Pty Ltd; NHE fixed deposit Instrument, shares in Capricorn Investment Holdings and shares in Kuleni Fund Administrators Pty Ltd. The total direct investments amount to N$2.5 billion.
During the event, the GIPF announced that it is working on actively participating in economic infrastructure financing that will yield returns. It has appointed six investment managers for this purpose and committed N$3 billion towards the infrastructure fund.
Statistics released at the meeting , showed that GIPF’s local assets stand at 43 percent of total investments, while 25 percent are in South Africa, 26 percent internationally (outside Africa) and six percent in Africa (outside Namibia and South Africa)
The chairman of the GIPF board of trustees, Goms Menette, announced that the fund would implement a Business Improvement Project (BPI).
“The purpose of the initiative is geared towards bringing about effectiveness and efficiency of process across the entire service supply chain of the fund,” Menette said.
Starting this month, GIPF officials will be on local radio stations addressing hot topics such as death benefits, biometrics enrolment and verification, untraced beneficiaries as well as giving members an opportunity to call in and ask pertinent questions related to their benefits.
The fund earlier this year opened an office in Outapi and will soon be opening another regional office in Eenhana in efforts to increase its footprints and decentralising some of its services to the regions.
GIPF Chief Executive Officer, David Nuyoma, presented the fund’s five-year strategic plan, which came into effect on 1 April 2018.
“If we are to become a leading and model pension fund globally, as our new vison states, our success depend greatly on how robust our integrated approach towards service delivery is and the ratings we will receive from our stakeholders in terms of customer satisfaction,” Nuyoma said.