GIPF launches 2023 Integrated Annual Report
The Government Institutions Pension Fund (GIPF) unveiled its 2023 Integrated Annual Report (IAR) at an event held in Oshakati this week.
This comprehensive report serves as a transparent overview of the Fund’s financial performance, facilitating proactive communication with stakeholders.
Since 2018, GIPF has been issuing integrated annual reports to enhance communication, providing a clear account of resource allocation and value creation in alignment with international financial standards and corporate governance principles. The 2023 IAR aims to inform stakeholders, including the Namibian government, state-owned entities, asset managers, employees, and the public about the Fund’s financial position and performance.
“GIPF has consistently upheld the core principles of good governance, accountability, and transparency for over 33 years. As we proudly present our sixth IAR for 2023, we continue our tradition of reviewing GIPF’s strategy direction, business model, risks and opportunities, and operational and governance performance” said Evans Maswahu, Vice Chairperson of the GIPF Board of Trustees.
The GIPF IAR 2023 provides a concise, material, and candid evaluation of their performance for the year ended 31 March 2023, while outlining the strategic roadmap of the Fund to achieve strong financial performance and realise the Fund’s vision, added Maswahu.
The fund assessed the risks, opportunities, and outcomes that materially impacted value creation, to expand the focus beyond the financial reporting boundaries. This broader perspective enabled the Fund to address the material interests of our stakeholders and consider the significant risks, opportunities, and impacts associated with our activities across the short term (less than 12 months),
medium-term (one to four years), and long-term (beyond four years) horizons.
This report discloses information about matters that can potentially impact the Fund’s long-term value creation significantly. This was achieved through the identification and prioritisation of material aspects for inclusion in this report, which involved a comprehensive review of several aspects, including GIPF’s business model, our interaction with the capital, the operating environment, and the expressed interests of our key stakeholders as expressed during our ongoing business
engagements.
This report further systematically presents the material information by delving into who we are and how we create value, highlighting those issues with substantial implications for value. It outlines our strategy and performance in ensuring sustainable, long-term value creation.
The report reflects the final year of the Strategic Plan (2018-2023), structured around four themes to manage resources and relationships effectively for long-term value creation.
The Board of Trustees reviewed and approved the report, affirming its accuracy in reflecting the Fund’s performance and strategic commitments. The GIPF Annual Financial Statements were endorsed for distribution, effective from 28 September 2023, based on recommendations from the Audit and Risk Committee.
Martin Inkumbi (GIPF Chief Executive), Fabiam George and Mihe Gaomab II (board of trustees members) and Evans Maswahu (vice chairperson GIPF board of trustees).
