The Government Institutions Pension Fund (GIPF) has confirmed its contribution towards the fight against Covid-19 through an investment into local pharmaceutical company, FabuPharm (Pty) Ltd.
GIPF, through its Unlisted Investment Portfolio via the special purpose vehicle, EOS Capital, has a 35% shareholding and invested over N$7.8 million into FabuPharm.
The pharmaceutical is located in Otjiwarongo in the Otjozondjupa region.
The local pharmaceutical manufacturer produces affordable and quality medicinal products – not only for Namibia but for international exports as well.
“We are particularly pleased to see that some of our unlisted investments in the pharmaceutical, healthcare, detergents, financial services and food production have meaningfully filled the gap when the country could not get supplies from the region and abroad during the lockdown,” said David Nuyoma, GIPF CEO and principal officer.
FabuPharm, among other drugs, manufactures immune boosters and other supplements, which have proven to be exceptional in boosting the immunity of Namibians in the fight against Covid-19.
Over the years, they expanded into a fully-fledged pharmaceutical manufacturer, producing over 150 different products in nine product categories.
This includes internal medicines, internal veterinary products, external products (topical treatments), skin care creams and disinfectant products – just to mention a few.
“GIPF designed its Covid-19 assistance, focusing on medium to long-term solutions – and this is one of several investments towards investing into the production of essential goods and services – not only for our members but for the nation at large,” stated Nuyoma.
GIPF has also appealed to all its members and the public to watch a special production and testimonies on the impact of the FabuPharm (Pty) Ltd investment on One Africa, NBC TV and on all GIPF social media platforms between 27 September 2021 to 8 October 2021.
Photo: FabuPharm
Caption: FabuPharm, located in Otjiwarongo, produces affordable and quality medicinal products – not only for Namibia but also for international exports.
Photo: Contributed