NamPro Fund hands over dividend to GIPF

WINDHOEK: Namibia Procurement Fund (NamPro Fund) on Thursday hand over dividend worth N.dollars 7.8 million for 2014 financial year to the Government Institutions Pension Fund (GIPF).

Speaking at the handover ceremony on Thursday, NamPro Fund Chairperson Derek Wright said this is the result of financially supporting more than 100 Namibian enterprise and funding transactions in excess of N.dollars 450 million.

“This is the second consecutive financial year the NamPro fund is able to hand-over dividend to its founding investor, GIPF. It is indeed an occasion worth celebrating as we share with you as key stakeholders, the evidence of the positive impact the GIPF’s unlisted investment programme is making in the economy and contributing to the growth of GIPF as a fund,” he said.

Wright said access to finance by the SME sector has historically been an impediment to growth of the sector that accounts for a significant portion of businesses in Namibia.

“It is incumbent upon all players to ensure that we work together to establishing and growing the SME sector if our economy is to experience real growth and employment creation,” he said.

The chairperson said in supporting SME businesses to fulfil the tenders/supply contracts, the Fund has been able to bring into the main stream economy budding new entrepreneurs and in the process created over 200 new jobs and retained over 1000 jobs.

On his part, GIPF’s Board Chairperson Mihe Goamab II congratulated the NamPro Fund for responding to GIPF’s call for impact investing and for scoring well on environmental; social and governance criteria.

In line with Regulation 20 of the Pension Funds Act, pension funds are required to hold a minimum of 35 per cent of their environments in Namibian assets with the maximum of 3. 5 per cent in unlisted investments.

He said through this legislation, pension funds are encouraged to invest in the domestic market so as to ensure that Namibian savings are utilised to stimulate development.

Goamab II said GIPF approved an ‘Investment Policy for Unlisted Investments’ in 2008 with the objective to make a meaningful contribution to the economy and development needs of communities.

GIPF has registered over 10 unlisted investments.