The Government Institutions Pension Fund (GIPF) has committed N$800 million towards a new unlisted commercial property investment vehicle managed by Oryx Property Limited.
The money will be used for supporting the development and financing of retail and mall-type properties across Namibia.
This investment began after Oryx Property built Goreangab Mall in Windhoek with an investment of N$300 million.
GIPF holds a 29.46% shareholding in Oryx Properties.
According to GIPF, the investment falls under a Core Plus Commercial Property Mandate, which focuses on generating long-term returns through investments in established commercial property assets.
“This new unlisted vehicle is intended to finance similar retail developments and mall-type assets of this nature across the country. The N$800 million constitutes committed capital earmarked for the new unlisted investment vehicle,” GIPF spokesperson Edwin Tjiramba says.
GIPF currently manages about N$213.2 billion in total investments. That means this is the total value of all the money it has invested on behalf of its members.
Over the past three years (up to 31 January), the fund has made an average net return of 15%.
During the launch of its Strategic Plan for 2026 to 2029, board of trustees chairperson Penda Ithindi said the new strategy is structured around key pillars aimed at strengthening the fund’s operations.
“The plan encompasses several strategic pillars that provide focus and direction on the sustainability of the fund, delivering excellent service, good governance and ethical leadership, organisational and employee capacity and socio-economic impact,” Ithindi said.
He added that implementation of the strategy will focus on improving efficiency, strengthening governance systems, and enhancing risk management, while expanding impact-driven investments aligned with environmental, social and governance principles.
GIPF chief executive Martin Inkumbi says the strategy requires adaptability and resilience in a changing environment while maintaining focus on its members.
He adds that the plan reinforces responsible governance, prudent investment management, and sustainable growth with an emphasis on safeguarding benefits for current and future beneficiaries
