GIPF Says It Will Protect Its Assets After Court Loss

By: Uaueza Kanguatjivi

The Government Institutions Pension Fund (GIPF) says it remains resolute in protecting its investments and assets and maintaining public transparency.

This comes after the High Court last week dismissed the Fund’s urgent application to prevent fund managers Myrtle from selling or liquidating shares it invested over N$400 million of pensioner’s money in.

The shares are held by the Namibia Mid-Cap Fund (NMCF).

“The sale of investments will not proceed as a direct result of the legal action taken. This bears testimony to the fact that GIPF is committed to guard and grow its assets on behalf of its members,” GIPF’s general manager of marketing and stakeholder engagement Edwin Tjiramba said.