GIPF launches integrated report for 2023

The Government Institutions Pension Fund (GIPF) launched its Integrated Annual Report (IAR) for 2023 at Oshakati on Tuesday.

The IAR report highlights the final year of the strategic plan for 2018 to 2023.

GIPF board deputy chairperson Evans Maswahu said the IAR ensures stakeholders remain informed of the fund’s financial position and performance.

“Our reporting process aligns with the principles and standards outlined in the International Financial Reporting Standards, the Integrated Reporting Framework established by the Value Reporting Foundation, the Namibian Code of Corporate Governance, and the 2016 Report on Corporate Governance for South Africa (King IV),” he said.

Maswahu said the GIPF consistently upheld the core principles of good governance, accountability and transparency for over the last 33 years.

“This report seeks to provide a concise, material and candid evaluation of our performance for the year ended 31 March 2023, while also outlining our strategic roadmap to achieve strong financial performance and realise our vision. In our assessment of the risks, opportunities and outcomes that materially impact value creation, we expanded our focus beyond the financial reporting boundaries.

“This broader perspective allows us to address the material interests of our stakeholders and consider the significant risks, opportunities and impacts associated with our activities across the short term, medium term, and long term horizons,” he said.

Maswahu said the report discloses information pertaining to matters that can potentially impact GIPF’s long-term value creation significantly.

“This report systematically presents the material information by delving into who we are and how we create value, highlighting those issues with substantial implications for value creation. It outlines our strategy and performance in ensuring long-term sustainability,” he said.