Staff Reporter
VICE President Lucia Witbooi has officially launched the Government Institutions Pension Fund (GIPF) Pension-Backed Home Loan Scheme in Mariental, Hardap Region, introducing a new housing finance mechanism.
“The introduction of this scheme marks a significant milestone in our collective efforts to enhance the welfare and financial security of public servants. By allowing active members of the Government Institutions Pension Fund to access a portion of their pension savings for the purpose of acquiring, building, or improving a home, the scheme unlocks opportunities that were previously beyond reach for many households. Equally noteworthy is the provision that enables members to build their retirement homes in unproclaimed areas,” Witbooi explained.
LAUNCHED: Scenes from the launch of GIPF pension-backed home loan scheme in Mariental. Photo: Vice President of Namibia.
She noted that the measure expands housing options while promoting more balanced and inclusive development across urban and rural communities. This, she added, recognises the realities faced by many Namibians, particularly those maintaining strong ties to rural communities.
“Beyond its direct benefits to individual households, the implementation of this scheme contributes meaningfully to the broader objectives of our Sixth National Development Plan (NDP6). Increased access to housing finance stimulates the construction sector, creates employment opportunities, and strengthens economic participation at the local level,” she continued.
The Vice President stressed that the initiative forms part of the government’s broader efforts to reduce the national housing backlog and improve living standards.
“Initiatives such as this strengthen the entire affordable housing value chain, from land servicing and infrastructure development to financing mechanisms. This enables ordinary Namibians to realise their dream of home ownership. In this regard, I commend projects such as Mariental Extension 6, developed by Dynamo Property Developers, which demonstrate the tangible impact that strategic partnerships can have in reducing the housing gap. The planned development of 311 modern, affordable houses in the Hardap Region, with 87 houses already under construction during Phase One, is a positive step towards expanding housing opportunities for the people of this region,” Witbooi added.
