Namibia: Schlettwein Probes Investec

12 December 2019

The finance ministry is investigating alleged favouritism between Investec Asset Management Namibia and trustees at the Government Institutions Pension Fund (GIPF) after the arrest of two of the investment entity's bosses.

Investec Asset Management Namibia manages N$17,2 billion of state funds from the GIPF (N$16 billion), Social Security Commission (N$800 million), Bank of Namibia (N$100 million) and N$300 million from the Guardian Fund.

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