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Oshana benefits from N$306 million GIPF Investments

By:Nghiinomenwa-vali Erastus

The Government Institutions Pension Fund has invested N$306 million of the public servants’ retirement savings for further growth in the Oshana Region.
Of the total investment in the region, over N$110 million was deployed in Ondangwa for further growth.
The mayor of Ondangwa, Paavo Amwele, remarked during the groundbreaking ceremony, paving the way for the construction of a new facility of the Government Institutions Pension Fund (GIPF) a week ago.
The over N$110 million invested in Ondangwa has been done through land servicing and construction for the benefit of those residing in surrounding areas.
Notable projects funded by GIPF savings include investments into the Gwashamba Mall, which has housed various shops and attracts shoppers from surrounding villages to the town.
Moreover, retirement savings have also enabled the region to build its landmark Ongwediva MediPark Private Hospital, which has one of the highest concentrations of medical specialists in Namibia within a single facility.
The remaining retirement savings were deployed within the region through numerous land servicing projects.
The country’s largest pension Fund has now procured land to construct a new N$38,3 million office complex at Ondangwa in the Oshana Region.
According to Fund Principal officer David Nuyoma, the planned facility will provide adequate space for the Fund staff members.
He also anticipates that when the office is fully developed, it will also have additional offices that will be up for rental, which the Fund foresees as a further investment in the development of Ondangwa.
Nuyoma added that the planned facility formed part of the GIPF’s strategy to ensure that the Fund responds to the plea by the members for a conducive and adequate office space environment.
“We believe this intervention will immensely improve our service delivery,” he concluded.
The GIPF offers pension and ancillary benefits to employees of government, parastatals and local authorities and has a membership base that stands close to 146 000 (active and annuitants) countrywide.
The chairperson of the GIPF Board of Trustees, Nilian Mulemi, indicated that the Fund has adopted a member-centric outreach strategy that focuses on ensuring the accessibility of GIPF services at the convenience of our members.
The Fund, therefore, makes efforts towards decentralising its operations to make services accessible to all members,” said Mulemi.
She added that, in an attempt to ensure the Fund delivers GIPF services in a conducive environment to the members in Ondangwa and surrounding areas, the Fund took a strategic decision to acquire its own office complex in Ondangwa.
This is to ensure the Fund attends to the growing number of members in this area.

Nghiinomenwa-vali Erastus

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