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New strategic focus spawns Kuleni Financial Services

2022-12-08  Staff Reporter

New strategic focus spawns Kuleni Financial Services

Kuleni Fund Administrators (Pty) Ltd, a wholly-owned entity of the GIPF, has completed a major rebranding process. The rebranding includes the change of the company’s name and logo, amongst others. The company has changed its name to Kuleni Financial Services (Pty) Ltd, and unveiled its new logo and website as per the new strategic direction and revised business model. 

The company was established in 1999 to provide pension fund administration services and others. Through its strategic planning process, the strategic direction and business model were revised. 

The services of Kuleni are available to the open market, whether an employer would like to set up a retirement fund for its employees, or an existing retirement fund would like to make use of the administrative services of Kuleni. 

Kuleni has a Preservation Fund, which allows any individual in Namibia, public or private, to invest their retirement benefits arising from their resignation or dismissal from their respective employers. 

“It became evident that we were moving beyond a pure pension fund administrator to an emerging financial service provider. It is on this basis that we are rebranding. When people see our logo, they should know that is the new Kuleni,” said Julia Muetudhana, chairperson of the board of directors. 

CEO Selby Sibeya highlighted, among others, the revised high-level statements of the company. He said the mission statement is to “Grow and position Kuleni to provide efficient financial services and lifetime retirement solutions to our clients. The revised Kuleni mission highlights three main shifts in the company’s strategy: Kuleni to be financially sustainable into perpetuity; Kuleni to emerge into a fully-established and recognised market player; and Kuleni to offer a range of value-adding solutions to Namibians”. 

He said the vision is “to become the preferred partner in providing financial services and solutions. The objective is for Kuleni to become a household name. The revised Kuleni vision places an emphasis on the company’s desired future position, which is for Kuleni to become market-competitive in providing financial security and growing financial assets”.

GIPF CEO David Nuyoma commended Kuleni on the rebranding exercise, and indicated that he has observed growth in the company. But, he cautioned them that as the company grows, they should not forget about corporate governance, which is an important element in the business. 

“Therefore, as you grow, I do not wish to hear of the CEO not seeing eye to eye with board members. I hear these things in the Namibian industry, and I am puzzled at such situations because it is intolerable and unacceptable for two heads not to talk to each other when they are expected to work together. Therefore, there should be alignment of activities between the CEO and the board. The purpose of governance is to align all strategies together for ease of implementation and working in unison,” stressed Nuyoma. 

2022-12-08  Staff Reporter

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