IMELDA AMBONDO
Chairperson of the Government Institution Pension Fund (GIPF) Board of Trustees, Penda Ithindi said the fund’s assets reached N$193 billion dollar by the end of August.
He said this represents about 70% of Namibia’s Gross Domestic Product.
Speaking at the commemoration of the Global Ethics Day last week, Ithindi said the growing asset value makes it vital for the fund to rekindle its ethical values and principles shaping governance and corporate practice.
“The 2025 Global Ethics Day theme, ‘Ethics Re-Envisioned’, is timely and relevant. Around the world, we see significant changes testing global decision-making and governance. This theme summons us to revisit, reimagine, and recommit ourselves to ethical leadership and corporate governance,” he said.
Speaking at the same event, GIPF Chief Executive Officer, Martin Inkumbi, said Global Ethics Day serves as a reminder that ethics is not a set of rules but a way of life that shapes every decision and interaction.
“Ethics creates trust and breeds legitimacy in the eyes of all that we are associated with. When employees uphold integrity in their daily actions, it leads to trust, and trust is the foundation of performance,” he said.
Inkumbi emphasised that GIPF has made significant strides since launching its Ethics Management Programme in 2017, embedding ethical conduct into its strategic objectives, policies, and operations.
He introduced the Fund’s new whistleblower tool, now managed by Deloitte Namibia.
Inkumbi acknowledged past incidents of internal fraud and said GIPF responded with transparency and reform.
“True integrity is not about never erring, but about confronting wrongdoing decisively and learning from it. Speaking up should always be guided by our shared value of integrity. The platform is there to correct, not to destroy, to build, not to break,” Inkumbi said.
Inkumbi added that, “Integrity means doing the right thing, even when nobody is watching. Teamwork means resolving challenges collaboratively. Service excellence means putting our members first, and care means acting with empathy and humanity in all we do.”
Prime Minister Elijah Ngurare warned that corruption in the public service is a great risk that compromises essential services including healthcare and education delivery.
The global observance, initiated over a decade ago by the Carnegie Council for Ethics in International Affairs in New York, encourages institutions and individuals worldwide to reflect on the critical role of ethics in shaping just and responsible societies.
“Corruption is a result of unethical conduct that negatively impacts on socio-economic development. It robs our country of resources and infrastructure development meant to improve the living conditions of our people,” said Ngurare.
Ngurare urged Namibians to embed ethics in all areas of life from workplaces to communities adding that even poor service delivery amounts to corruption.
“We cannot achieve the dreams of our fellow Namibians when we are entrapped in unethical behaviour. Let us start embedding ethics in our organisations, churches, schools, and workplaces,” he said.
The Prime Minister also highlighted the need for stronger whistleblower protection mechanisms, assuring that the government would continue working to ensure legislation is enacted and enforced to guarantee safety for whistleblowers.
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