insert_link Uncategorized GIPF to launch pension-backed home loan scheme following government approval The Government Institutions Pension Fund (GIPF) is preparing to implement its long-awaited Pension-Backed Home Loan Scheme (PBHLS), following approval from the Ministry of Finance. Under the initiative, active GIPF members will be able to use a portion of their pension savings as collateral to access home loans, a significant step toward improving affordable housing access for civil servants. Finance Minister Ericah Shafudah announced the scheme's formal endorsement in […] today1 July, 2025
insert_link Namibia Pension-backed housing scheme targets civil servants The government has approved a Pension-Backed Home Loan scheme allowing civil servants to use a portion of their pension savings as collateral for affordable housing loans, Finance Minister Ericah Shafudah announced in Parliament yesterday. Under amendments to the Pension Funds Act 24 of 1956, members of the Government Institutions Pension Fund (GIPF) may access loans to purchase residential property or land, construct or renovate homes, settle existing mortgages, or improve […] today26 June, 2025
insert_link Business / Economics MPs Sound Alarm Over Exploitative Lending Practices Lawmakers in the National Assembly debated financial reforms to curb rising debt levels in Namibia, especially among civil servants. Inna Hengari from PDM criticized microlenders such as Letshego for profiting N$199 million in six months while borrowers sink deeper into financial distress. Hertha Ekandjo reports for One Africa’s NewsOnOne. today14 February, 2025
insert_link Namibia Government calls for document submission from Workman’s Compensation beneficiaries The Ministry of Labour, Industrial Relations, and Employment Creation is conducting a payroll audit for workman’s compensation beneficiaries. These funds support civil servants injured on duty or beneficiaries of deceased civil servants. With 310 beneficiaries currently, the Executive Director, Lydia Indombo, stressed the importance of submitting relevant documents by 31 May 2024, warning that failure to do so may lead to the suspension of benefit payments. today7 May, 2024
insert_link Namibia Unchanged repo rate still a challenge for many civil servants’ cost of living The government has disclosed that the wage bill for the upcoming financial year amounts to N$35.4 billion, encompassing benefits and a 5% raise for civil servants, as outlined in its 2024/25 budget. The allocation is intended to cover the salaries of 107,000 civil servants. Dr. Basilius Kasera, a Professor in Human Sciences at UNAm, provides insights on the matter. today19 April, 2024
insert_link Namibia Prime Minister Kuugongelwa-Amadhila facilitates public tribute with early leave for civil servants As Namibia, Africa, and the world prepare for the funeral of the late President Hage Geingob, the Office of the Prime Minister has directed civil servants to only work until 10 am on Friday, 23 February 2022. Prime Minister Saara Kuugongelwa-Amadhila says the measure will allow the public to pay their last respects to the late president. We contacted President Nangolo Mbumba for his comment. today21 February, 2024
insert_link Local Bank of Namibia warns against fraudulent investment scams. The Bank of Namibia (the Bank) has noted with concern an escalation in the number of fraudulent investment scam activities, targeting and using references to the Government, its Ministries, Offices, and Agencies. The Bank has identified fraudulent investment scam activities, offering unsolicited financial assistance to fund Namibia’s developmental initiatives, with perpetrators applying particular focus on senior public figures, high-ranking government officials, politicians, and civil servants, to promote the fraudulent […] today2 February, 2024
