Bank of Namibia with the Ministry of Finance Plan to Launch SWF on May 12, 2022
Posted on 05/11/2022
The Bank of Namibia with the Ministry of Finance will officially launch the Sovereign Wealth Fund (Welwitschia Fund) on May 12, 2022.
The Welwitschia Fund is set to become one of Africa’s newest sovereign wealth funds, and will be administered by The Bank of Namibia, under the jurisdiction of the Ministry of Finance. Its creation is aimed at meeting the aspirations of Vision 2030 and acting as an agent of national change. According to the May 9, 2022, tweet, “Governor of the Bank Mr. Johannes !Gawaxab handed over a dividend payment of N$413,7 million to the Ministry of Finance, of which a portion of this dividend will be allocated to the Fund. ”