The GIPF subscribes to the principle that a well-governed pension fund should deliver sustainable value to its stakeholders. The Fund further upholds the high standards of governance through effective and ethical leadership. The Fund has also adopted sound risk management practices, strong internal controls, and high information technology governance standards. GIPF observes optimal regulatory compliance, stringent financial governance and responsible investment practices.
Penda Ithindi
Chairperson
Deputy Executive Director, Ministry of Agriculture, Water and Land Reform
Position on the Board: Trustee
Qualifications: M.Sc. Financial Economics; B.A Mathematics, Economics
Appointed: September 2020 by the Government of the Republic of Namibia
Evans Maswahu
Vice Chairperson
Director: Finance, Human Resources, Administration and Information Technology
Position on the Board: Trustee
Qualifications: MBA; Postgraduate Diploma in Management Studies; B.Com. Law
Appointed: July 2020 by the Namibia Public Workers’ Union (NAPWU)
Nillian Mulemi
Trustee
Chief Executive Officer: Petroleum Training and Education Fund (PETROFUND)
Position on the Board: Board Chairperson (01 January 2022 –to-date)
Qualifications: MSc. Finance; B.Acc; B.Juris; Nat.Dip Cost Accounting
Appointed: May 2018 by the Government of the Republic of Namibia
Faniel Kisting
Trustee
Consultant
Position on the Board: Trustee
Qualifications: MBA; CA (Nam) (SA); RAA (Nam); B.Com; B.Compt.
Appointed: October 2017 by the Government of the Republic of Namibia
Roswitha Gomachas
Trustee
Deputy Chief Legal Advice, Office of the Attorney General
Position on the Board: Trustee
Qualifications: LLM (Cum laude); LLB; B.Juris
Appointed: July 2016 by the Government of the Republic of Namibia
Maria Dax
Trustee
Strategic Communications Consultant
Position on the Board: Trustee
Qualifications: MBA; BA; PRISA Accreditation in Public Relations (APR)
Appointed: August 2014 by the Government of the Republic of Namibia
Petrus Nevonga
Trustee
General Secretary: Namibia Public Workers Union (NAPWU)
Position on the Board: Trustee
Qualifications: MBA (Entrepreneurship); Postgraduate Diploma: Business Administration; B-Tech: Business Administration; National Diploma: Human Resources
Appointed: July 2021 by the Namibia Public Workers’ Union (NAPWU)
Dr Fabiam George
Trustee
Head: Trainees Support, Namibia Training Authority (NTA)
Position on the Board: Trustee
Qualifications: PhD in Management; PhD in education; MBA (general); Post graduate certificate in management study; Bachelor Degree in Business Administration; Basic Education Diploma
Appointed: April 2021 by Namibia National Teachers Union (NANTU)
Mihe Gaomab II
Trustee
Chief Executive Officer: Namibia Industrial Development Agency (NIDA)
Position on the Board: Trustee
Qualifications: MSc (Quantitative Economics); Postgraduate Diploma in Investment and Portfolio Management; Diploma in Project Management; Diploma in Senior Management; B.Com Honors
Appointed: January 2022 by the Government of the Republic of Namibia
Strategy oversight
The Board creates value by exercising oversight over the implementation of the strategic plan. Executive management makes quarterly implementation reports to the Board, while the organisation holds an annual strategy review.
Trustees’ duties
The duties of the Trustees are to:
- Manage, control and administer the Fund
- Ensure that proper internal control systems are in place to mitigate significant risks
- Establish a risk management framework and its review
- Provide strategic and policy direction to the Fund
- Receive regular management reports to monitor operational compliance
- Propose amendments to the Rules of the Fund
- Determine the investment policy, setting out investment guidelines and performance benchmarks in line with the policy framework
- Establish and manage relationships with key stakeholders
Governance standards and principles
The Fund conforms to six fundamental governance standards and principles as provided for in the corporate governance framework: fairness, accountability, responsibility, transparency, competency and integrity. The GIPF believes that effective and ethical leadership is central to good governance, in line with the Corporate Governance Code for Namibia (NamCode) and the Report on Corporate Governance for South Africa 2016 (King IV). This implies that GIPF’s leadership must deliver not only a seamless strategy but also ensure operational excellence, which it accomplishes by adhering to the following:
- Providing direction to the organisation through clear strategy
- Giving effect to that strategy through the development of appropriate policies
- Providing oversight over management’s implementation of the strategy
- Demonstrating accountability and transparency through full disclosure