By Surihe Gaomas
WINDHOEK
Two years after his death, the legacy of the late Lazarus Ipangelwa has been relived with the launch of the Lazurus Shinyemba Ipangelwa Foundation (LSIF).
President Hifikepunye Pohamba officially launched the Foundation last Thursday in keeping with his contribution to the business sector and economy.
The LSI Foundation, which consists of ten trustees, is a non-profit organization that recognizes and encourages business excellence in leadership and provides training and mentoring programmes to graduates, emerging entrepreneurs and farmers.
Ipangelwa was well known in the finance and banking circles of the country and served as Chief Executive Officer of the First National Bank of Namibia before his untimely death in late 2005.
He helped set up the Development Bank of Namibia and became the first Managing Director of DBN, and later CEO of FNB Namibia.
The late Ipangelwa was described as one of the pioneers in establishing the country’s monetary policy and framework.
In light of this, the Head of State said the launch of the LSI Foundation, as a gesture by the family of the late Ipangelwa, was befitting of the role he played.
“The Foundation is a home-grown initiative with commendable goals and objectives. I also urge the trustees and supporters to ensure its success in order to meaningfully contribute to the entrepreneurship and economic empowerment of our people,” said Pohamba.
The president encouraged various partners and stakeholders in the Foundation to contribute generously to this initiative for it to produce qualified financiers, emerging farmers and local businessmen.
It is only in this way that the memory of the late Ipangelwa can be kept alive and, at the same time, that his legacy be of benefit to many graduates in this arena of business.
Speaking at the same occasion, Chairperson of the LSI Foundation and Governor of the Bank of Namibia, Tom Alweendo, said Lazarus Ipangelwa had proven to be an effective and influential business leader.
Ipangelwa, one of Namibia’s most promising, astute, top black executives, died in a car accident in September 2005, which also claimed the lives of his two-year-old son and the family’s long-serving nanny.
It was ironic that the family was travelling to the North to attend the funeral of Ipangelwa’s father-in-law.