The Government Institutions Pension Fund (GIPF) has announced that it has invested N$21 million into Namibian Gypsum Industries.
Located in the town dubbed as the “Uranium Capital of the World”, Arandis, in the Erongo Region, the project falls within GIPF’s Unlisted Investment Portfolio, through the investment fund manager, Boabab Capital.
Established in 2018, Namibian Gypsum Industries’ factory, alone occupies approximately 6 000 squares of land and has closed a void in the industry by adding value to raw gypsum, by manufacturing dry walls and ceiling boards. Currently, all ceiling boards used in Namibia are imported.
The production of local gypsum will start at the end of August 2021.
Besides the Namibian Gypsum Industries Factory 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.
Gypsum products have various advantages, such as, Resistance, Sound control, Versatility, Quality, Affordability and Convenience. The gypsum used in Namibia on the boards is natural unlike other imported boards which contain chemicals.
“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,” said David Nuyoma, GIPF CEO and Principal Officer.
Once operational, the Namibian Gypsum Industries Factory plans to employ 120 individuals with the focus on women empowerment.
Albertina Mukwati, a qualified artisan in control and instruments, who has been elected as the team leader for the factory, has expressed her excitement and gratitude to leading a team consisting of majority 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 Erongo Region. These projects include housing developments and land servicing, manufacturing, animal feed production, and fish canning and processing.
In the photo: GIPF’s CEO Mr David Nuyoma
