Cabinet gives green light for Namibia to establish sovereign wealth fund

Contributed by NAMPA.

KEETMANSHOOP, 27 JUN (NAMPA) – Cabinet said it has approved in principle for Namibia to establish a national Sovereign Wealth Fund (SWF).
An SWF is a State-owned investment fund that invests in real and financial assets and which is set aside for investment purposes to benefit the country’s economy and citizens.
In a statement on Saturday the Minister of Information and Communication Technology, Peya Mushelenga said Cabinet directed the Ministry of Finance to constitute an inter-institutional t ...