The Popular Democratic Movement (PDM) has expressed deep concern over the reported loss of around N$800 million in the Government Institutions Pension Fund (GIPF) investments. These funds are the hard-earned savings of Namibian public servants, and any risk to their security demands immediate national attention.
PDM has formally requested the Chairperson of the Parliamentary Standing Committee on Economics to subpoena GIPF leadership for a full explanation. The GIPF CEO must clarify how this massive loss occurred, identify those responsible, detail recovery plans, and outline measures to prevent future mismanagement, safeguarding pensioners’ contributions.
This is not the first instance of GIPF facing allegations of poorly managed funds, raising serious concerns about governance, risk control, and transparency at the institution. Namibian pensioners deserve assurance that their savings are protected from reckless investments.
PDM insists that all individuals and institutions managing public funds must be held accountable. Namibians require clear answers, not silence or impunity. The party commits to defending workers’ rights, enhancing oversight of state entities, and ensuring public funds are managed with integrity and lawful prudence.
The time for accountability is now.
