GIPF receives N$321m dividend from FirstRand Namibia

Martin Endjala The Government Institutions Pension Fund (GIPF) has announced that FirstRand Namibia Group has declared dividends of N$321 million in favour of the Fund for the financial year that ended in June 2023. The ceremonial dividend cheque was handed over this week at the GIPF Head Office in Windhoek. The state-owned entity holds 15.71 percent shares in FirstRand Namibia Ltd owning an estimated 42 million in shares. GIPF gained its initial exposure to this investment in 1996 through its investment in the then City Savings and Investment Bank (CSIB) which was later taken over through a corporate acquisition by…