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GIPF: PM Angula’s Proposal

The five percent of the profits of the Government Institutions Pension Fund (GIPF) used for development projects should go to the newly established Development Bank of Namibia (DBN), Prime Minister Nahas Angula proposed. Although he did not mention the bad investments for the collapsed Nando’s Chicken and the ostrich project for communal farmers in southern Namibia, Angula said it would be better, of the GIPF either bought into the DBN or embark on a strategic partnership with the DNB, which would entail that the development bank would manage the 5 % development capital of the GIPF on the latter’s behalf. The Prime Minister was speaking at the opening of the regional GIPF in Swakopmund last weekend. The GIPF has a fund of N$ 19 billion (!) and about 70 000 civil servants as paying members plus 20 000 retired government employees. About 140 000 Namibians – civil servants and their families - are beneficiaries of the GIPF. Government employees pay 7 % of their salaries into the GIPF and the Government contributes another 17 % of the salary of each civil servant.

Training day for farmers

near Otavi

Officials of the NAU and NNFU will hold a seminar for farmers on the management of finances on Farm Gauss near Otavi on 28 May.

The previous Farmers Day presented by the Joint Agricultural Forum (JAF) in March at Uitkomst Research Station on the topic of "Grassland Management" was well received and a success. This time the focus is on another key issues of successful farming, namely on the financial aspects. Farmers and also new, emerging farmers who come form rural farming are welcome to attend this free course. It will start Saturday 28th May, 2005 at 9h00 on Farm Gauss of Mr Hartmut Freyer is 12 km north of Kombat – just follow the signs when entering Kombat.

The programme is as follows:

9h00 Opening, welcome and important livestock industry announcements

(Chairperson: Mr Solomon Tjipura) (Co-chair and translator: Lady-Hain Kazohua)

9:30 Present and Future Agribank Policy

(Mr H.G. Stier - Chairman of Board of Agribank)

10:30 Tea/Coffee

11:00 Profitability of beef production (cattle farming) (Mr. Peter Zensi – Farmer)

11:45 Budgets, basic financial record system and managing expenses (Mr Poena Potgieter – Farmer)

12:45 Introduction to AGRISTAT – a production and financial evaluation system for farmers

(Messrs Arne Gressmann, Peter Zensi – both Farmers)

13:00 Light Lunch

14:00 The value of Conservancies and Game (Dr. Laurie Marker)

14:45 Game farming and Trophy Hunting (Mr. Hartmut Freyer)

15:00 Farm Tour and Game Viewing

You are invited to a braai in the evening – a cash bar will be available at your own expense.