GIPF assessing N.dollars 175 million energy investment opportunities

The Government Institutions Pensions Fund (GIPF) has announced that it is assessing further energy investment prospects totalling N.dollars 175 million.

If the results are favourable, the N.dollars 175 million will be added to the N.dollars 177 million contributed to the Rehoboth shopping centre, the solar rooftop at the Rehoboth shopping centre, land servicing and housing developments in the region.

GIPF board chairperson, Nillian Mulemi, made the statement at the opening of the new GIPF satellite office at Mariental in the Hardap Region.

“Driving responsible investment practices is a critical part of our commitment to good governance. This being said, as a result of the fund’s robust investment strategy, we continue to perform well, and our assets stand at N.dollars 157 billion as at 01 May 2023,” she said.

Mulemi stated that the fund is expanding its national reach and delivering much-needed services closer to its members.

Salomon April, Governor of the Hardap Region, noted that Mariental has long been regarded as a modest market town in the heart of southern Namibia, but that this opportunity has elevated and placed the town on the map.

“This step speaks to the GIPF’s freshly launched strategic strategy, which declares that the GIPF seeks to be a member focused and globally leading pension fund. This is a clear indicator that the fund is walking the walk and living its actual vision. This launch demonstrates that the GIPF truly values its members” he said.

April stated that the Hardap Region is prepared to be a key partner in the fund’s unlisted investment space and urged GIPF to join the region in efforts to address youth unemployment by prioritising the region’s local inhabitants for temporary and permanent employment when implementing investment projects.

Mariental mayor, Cherien Kock, stated that the fund’s efforts are not going unnoticed, and said her office encourages the GIPF team to continue investing in the community.

“Let us forge a lasting relationship that will assist us in forging new paths forward in our efforts to bring development to our region,” she added.

Source: The Namibian Press Agency