2014-11-21Staff Report 2 WINDHOEK - The Government Institutions Pension Fund (GIPF) yesterday unveiled its new corporate identity, including new logo and slogan, that has been on the drawing board for approximately one year and that will now replaces the original logo that has been its hallmark since inception in 1989. During a media briefing in the capital, the institution’s Chief Executive Officer (CEO), David Nuyoma, and his team revealed that about N$300 000 has been spent so far on the conceptualisation of the new brand by TBWA/Paragon, which is headed by Lazarus Jacobs. This figure does not include the rollout and related marketing expenses yet to be incurred by GIPF, as it reveals its new image to the nation. “The Fund has indeed come of age and we are happy to state that these ensuing changes are to be credited for impressive investment returns being recorded year-on-year,” said Nuyoma. For the period ending August 2014, GIPF’s assets under management stood at N$81 billion, or approximately 60 percent of Namibia’s Gross Domestic Product (GDP), which is a remarkable increase from the initial N$800 million recorded at the Fund’s inception. In comparison, Namibia’s entire pension fund industry has about N$103 billion under management, of which about 71 percent belongs to GIPF. GIPF’s charismatic CEO explained that as with any other business, the Fund has gone through phases that necessitate corresponding adaptations to remain relevant and to stay on course. “In view of this reality, we have carried out a scientific evaluation of our existing brand to establish stakeholders collective perceptions regarding the Fund’s mandate,” noted Nuyoma. He added that GIPF’s original corporate brand, which was discontinued as of yesterday, will be a reminder of where the institution has come from while the new look is seen to be a suitable outfit for what the institution has grown to become. “Apart from the obvious review of the visual elements (corporate identity), the rebranding exercise included an internal cultural change programme geared to align the brand promise of the organisation to the expectation of employees, customers and stakeholders,” remarked Nuyoma. GIPF’s benefit payroll currently stands at N$1.5 billion per annum, a situation which benchmarks the Fund against the top 100 companies listed on the Johannesburg Stock Exchange. The Fund was recently recognised by the World Bank as the best run pension fund in Africa. By Edgar Brandt 2014-11-21Staff Report 2
