The Government Institutions Pension Fund has started the process to find a suitable replacement for its CEO David Nuyoma, who retires next year after ten years, at the helm of the country’s largest defined pension fund.

 Nuyoma’s position is a sought-after one, considering the performance of the fund, which is the single biggest investor in the economy, with assets of over N$135 billion.

In a statement yesterday, the GIPF board said approval has been given to kickstart the search for a new principal officer as per the fund rules. 

“To this end, the recruitment and selection process has been approved to commence,” board chairperson Nillian Mulemi said. 

“The GIPF is committed to undertaking an objective, fair, open and competitive recruitment process and distances itself from past social media reports, insinuating there are candidates earmarked for the position. The process will be facilitated by an independent, expert recruitment agency.” 

Nuyoma, who joined GIPF from the Development Bank of Namibia, will go into retirement in June next year. 

“The GIPF regards recruitment as a key strategic function; therefore, the selection process shall be conducted based on an efficient, fair and transparent manner
that the policy prescribes. Suitably qualified women and persons living with disabilities are encouraged to apply.”