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Namibia’s government pension fund to increase private equity exposure

28 Nov 2012

Namibia’s Government Institutions Pension Fund (GIPF) is exploring opportunities for investment in local projects and businesses as part of a new private equity investment programme.

Quoted in The Namibian, Deputy Permanent Secretary of the Ministry of Finance, I-Ben Nashandi said that despite high gross saving rates of about 40 per cent of the gross domestic product (GDP), most of these assets are invested abroad.

And while the Namibian government has mandated that pension funds invest a minimum of 15 per cent in the local economy, the GIPF has N$8.2bn ($924m) available for investment in private companies.

Nashandi welcomed the programme, but urged that the investments be long-term and sustainable.”Besides, the GIPF remain one the one responsible to the members. With that accountability notion, GIPF should embrace principles aimed at [the] preservation of capital invested, ensuring sound growth in investments, and optimising returns for such investments.”

There is understandable caution of such public investment initiatives, following GIPF’s Development Capital Portfolio (DCP) programme, which saw some N$600m remaining unpaid.

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