Government Institutions Pension Fund
Kongalend currently manages N$150 million in development investment capital on behalf of Namibia’s Government Institutions Pension Fund (GIPF) through which its range of microfinance products are financed. The investment is ring-fenced in a Bewind Trust, the Kongalend Renewable Energy Fund Trust, whose board of trustees comprises Kongalend’s strategic executive management cadre and six independent trustees drawn from the financial sector who play a judicious management role presiding over this Special Purpose Vehicle (SPV). Kongalend’s investment mandate, through this relationship, is to invest funds in such a way that the Trust makes a tangible and visible contribution to the Namibian economy through the provision of micro- financing to individuals, households and small and medium enterprises, targeted mainly to communities in the rural and off-grid areas, thereby stimulating economic activity, the expansion of a renewable energy sector and the improvement of lives and livelihoods in such communities, through the provision of sustainable development-oriented microfinance; to generate acceptable long-term returns compatible with other Southern African investment opportunities; and to support the furtherance and development of social and economic upliftment in Namibia. The Trust’s strategy is to target investments that have the potential of making a tangible long-term development impact on the lives and livelihood of rural communities, and stimulating meaningful economic activity through the provision of credit financing to individuals and groups operating in various sectors of the Namibian economy, including: agriculture, community based tourism, construction, energy (renewable), food processing and retail, light industry and manufacturing.