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HOUSEFINDER SPECIAL EDITION - PIPF | JULY 20257Building trust: past,present and futureBack row, left to right: Mr. Alfonso Unanisa Hengari, Browny Mutrifa, Jacob Nafimane Nghifindaka, Ribhardt Michael Ngapurue & Ignatius Hinky Theodore.Front row, left to right: Ms. Miriam Ndalilashiwa Hamunyela, Lucia Treesia Ndilimeke Hiveluah, Mr. Fabian David Tait, Ms. Selma Dhiginina Shaanika and Mr Mark Cioccolanti. When the Government Institution Pension Fund (GIPF) framed their vision of playing a more active role in the Namibian economy, the leadership knew they needed a partnership of note, hence the creation of the Preferred Investment Property Fund (PIPF) Trust jointly with fund manager Preferred Management Services. This was back in 2011. It was a lucrative move for the pension fund and a happy one for many Namibians who could, finally, own homes of their own. Affordability was the keyword and still is today.Thus, PIPF could forge ahead with the mandate of investing in property and infrastructure development. They were to deliver a good return on investment to the GIPF, provide skills, capacity building and private equity management and, last but not least, ensure employment creation in rural areas.What followed is a quiet Namibian success story: The market value of the initial investment more than tripled within 13 years. By the end of the 2024 financial year, the investment return stood at N$ 1.1 billion %u2013 thanks to a strong track record of 28 years in the area of infrastructure and property development.The PIPF Trust had set out to invest funds in revolving property investments that would make a tangible and visible contribution to the Namibian economy.The Trust had aimed at generating acceptable long-term returns comparable to other Southern African investment opportunities. While setting out to develop a private equity industry and mentality in Namibia with a fair and long-term vision for the local private equity industry, PIPF has set the scene for others to follow. A top objective was to support economic and social upliftment in Namibia via affordable housing projects for previously struggling families. Not only were housing opportunities to be spread geographically, but balance was also sought between underdeveloped areas and more established nodes such as Windhoek and Ongwediva. There was to be a healthy mix of higher risk %u201csocial%u201d investment and sustainable and profitable long-term investments. PIPF pinpointed Osona, Otavi and Omuthiya, amongst others, as the beneficiary towns.Governance within the PIPF Trust is in the hands of the Board of Trustees, together with investment, audit & risk committees, focusing on good corporate governance, sound investment decisions and effective risk management. P\\