Local is lekker for GIPF
… fund trailblazing in local gypsum industry
The Government Institutions Pension Fund (GIPF) this week announced its investment of about N$21 million into the Namibian Gypsum industries.
Located at Arandis in the Erongo region, the project falls within GIPF’s unlisted investment portfolio, through investment fund manager, Baobab Capital.
GIPF spokesperson Edwin Tjiramba said the production of gypsum will commence towards the end of this month.
Established in 2018, the Namibian Gypsum Industries factory alone occupies approximately 6 000 square of land and has closed a void in the industry by adding value to raw gypsum, by manufacturing dry walls and ceiling boards.
Currently, Tjiramba said, all ceiling boards used in Namibia have been imported, but that will soon change.
Besides the Namibian Gypsum Industries supplying their products locally, the biggest gypsum market is in South Africa, where the factory plans to export their products.
The factory also plans to export to the rest of southern Africa.
According to Tjiramba, gypsum products have advantages such as resistance, sound control, versatility, quality, affordability and convenience.
“The gypsum used in Namibian on the boards is natural, unlike other imported boards which contain chemicals,” stated Tjiramba.
“GIPF prides itself in ensuring that our investments do not only yield profits for the benefits of our members, but also contribute towards enhancing the livelihoods of the communities of our members and their loved ones,” added David Nuyoma, GIPF CEO.
Once operational, the local factory plans to employ 120 individuals with a focus on women empowerment. Albertina Mukwati, a qualified artisan in control and instruments, has been elected as the team leader for the factory.
Shehasexpressedherexcitement and gratitude for leading a team consisting of a majority of women. She further shared how she is currently building her home and looks forward to utilising the fruits of her work, rather than using imported ceiling boards.
Other notable investments by the GIPF in the town of Arandis include the Arandis Convenience Shopping Mall to the tune of N$18 million as well as the Iyanda and Iyaloo court apartments and housing, made possible through an investment of N$13.2 million.
To date, the GIPF has employed a total capital investment amounting to N$376 million into various projects in the region. These projects include housing development and land servicing, manufacturing, animal feed production, and fish canning and processing.