Welwitschia Sovereign Wealth Fund grows by N$425 million

Martin Endjala President Nangolo Mbumba, yesterday said since the establishment of the Welwitschia Sovereign Wealth Fund, its investment returns have grown from the initial seed capital of N$262 million to N$425 million. The Fund was created in preparation for a bountiful harvest to come. Mbumba said this during the State of the Nation Address in the National Assembly. The Fund was launched in May 2022, by the late President Hage Geingob. Mbumba said Namibia’s economic trajectory is promising, with a projected medium-term growth forecast of between 3 and 4 percent. “President Geingob envisioned a Namibia free from hunger and poverty,…