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

Kavango East Governor’s office renders assistance to food poisoning victims’ families

The Kavango East Regional Council has donated eight tents to the families of the 16 people who died as a result of food poisoning at Kayova village this week.

In an interview with Nampa on Thursday, Kavango East Governor Bonifasius Wakudumo said the donation forms part of the support initiatives from society towards the burials of the deceased, including the Office of the Prime Minister’s assistance of food and coffins, as well as the Namibian Defence Force, which provided transport.

“This is a national catastrophe and it needs efforts from everyone to ensure that we give our people who departed a befitting burial,” said Wakudumo.

The governor, along with other members of the regional council, visited the family of the deceased on Wednesday and described the situation at the home as calm but said that it is clearly visible that the family is in bereavement.

The Office of the Regional Director issued a statement on Thursday saying that the total number of people involved in the food poisoning incident was revised from the initial 18 to 24, with the youngest being a one-year-old child and the oldest, 33 years old.

To date, 16 people have died, two of whom succumbed to the food poisoning at Nyangana District Hospital.

According to the statement, only one person is admitted at the Rundu Intermediate Hospital, while seven people are at Nyangana District Hospital.

Source: The Namibian Press Agency

Aupindi against foreign mining right holders

Member of the Parliamentary Standing Committee on Economics and Public Administration, Tobie Aupindi has opposed the issuing of mineral resources rights to foreigners, who do not have Namibian shareholding interest.

Aupindi made these contributions on Wednesday in Swakopmund during the ongoing oversight Workshop on Maximising the Potentials of the Mining and Energy Sectors in Namibia.

The week-long workshop is assessing the state of mining, energy and oil sectors in Namibia, including their contribution to the country’s economy, employment and sustainable development among others.

“I am aware that there are some mining rights owners of foreign nationality who do not have Namibian shareholding rights in whatever form and that should be completely done away with, and the proposed Bill must make it clear that you simply cannot get a mineral licence in Namibia if you do not have the interest of Namibians who are the owners of these natural resources,” Aupindi noted.

The proposed Bill is providing for Namibians to procure and maintain ownership of not less than 5 per cent of its equity shares in mining companies as may be prescribed by the mining charter.

The proposed provisions area results from a growing public concern that the country is not benefitting equitably from its mineral resources because most mining companies are owned without local participation.

Currently the Act does not prescribe only ownership in either exploration and prospecting licences (EPLs) or mining licences (MLs).

Aupindi has further proposed that it should become illegal to export raw material from Namibia in terms of mineral resources.

“There has been mention of the beneficiation law that is coming, but there must be a transition period in this Act that allows that at a particular date, that Namibia will no longer export its minerals in raw form and it should not just be left to the beneficiation discussions or proposals that are going on here,” he said.

Mines and Energy Minister Tom Alweendo in his keynote address at the opening of the workshop on Monday already noted that raw materials are highly sought after globally and should therefore not be exported in raw form.

“We cannot mine these minerals where they are exported in their basic raw form or where minimal value has been added. We must insist that critical raw materials are not exported without value being added locally and where possible,” Alweendo expressed.

The workshop ends on Friday.

Source: The Namibian Press Agency