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LAZARUS AMUKESHE
The Association of Governmental Institutes of Namibia wishes to have a representative on the board of directors of the Pension Fund of Government Institutions.
The association was created in 2007 to represent government retirees and has the power to formulate concrete proposals for investment, said Andrew Matjila, president of the association.
Matjila said this at the annual general meeting of the association held in Windhoek earlier this month.
His comments were made after government pension funds (GIPF) announced at the meeting that they wanted to invest more resources locally next year, with a focus on on infrastructure.
GIPF has already invested in financing real estate, banks, infrastructure, land services and real estate loans.
Matjila said the association hoped that the investments that GIPF was planning to make would not result in the disappearance of money.
The media reported in 2010 that GIPF had funded 16 start-up projects, many of which were supported by politically connected "entrepreneurs".
The Namibian indicated in 2010 that these loans had resulted in GIPF capital losses of approximately N $ 650 million and an opportunity cost of approximately N $ 1.2 billion, a loss of total of more than N $ 1.8 billion, according to the same source. Supervisory Authority of Namibian Financial Institutions (Namfisa).
Matjila said that because of what had happened in the past with respect to lost money, the association wanted direct representation on the board of directors so that & # 39; She knew what was going on "inside".
"We do not just want to read about it in the newspapers. We want our representative to tell us what is happening directly, "he said.
"Once we have approved the wish to increase local investment, we will also need to be aware of the weaknesses in infrastructure development in Namibia, which worries us," he added.
Retirees also worry about the supply of low-cost housing, Matjila said, noting that some of them had no home and hoped that the investments would also be spent on the supply of houses.
He added that the other important issue was education and that they hoped to see increased local GIPF investment in quality education.
Matjila said that one of the biggest challenges was to involve all the inhabitants of the regions in the affairs of the association, especially those in rural areas.
He further urged retirees to remain active during their retirement, as retirees gained a lot of knowledge during their working years and should reintegrate them into society and not sit in the shadows.
Matjila congratulated GIPF for resolving the issues raised in the past.
GIPF opened an office in Outapi earlier this year and plans to open the next one at Eenhana next year.
A new name and a new logo were also adopted at the annual meeting. The association has been renamed the Association of Government Institutes of Namibia (Gipan). She formerly called the National Association of Retired Persons of Namibia (NaPAN).
The association had no logo since its inception in 2007 and the logo was launched at the meeting. The logo represents the Welwitschia factory, which represents endurance and perseverance.
Robyn Nakaambo, head of GIPF's external stakeholder engagement, said the association designed the logo by organizing a design competition.
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