Finance Minister Erica Shafudah clarified that the Government Institutions Policy Fund (GIPF) has not confirmed the loss of the N$922 million recorded as an impairment provision in its 2025 financial statements.

Shafudah was responding to a question from the Official Opposition Leader in the National Assembly, Immanual Nashinge, regarding government oversight of GIPF investments and the security of public servants funds.

Shafudah stated that about N$815 million relates to an investment in South Africa's Signal Structured Finance Fund, where a tax dispute with the South African Revenue Service has created uncertainty over the recovery of the funds.

"The impairment of that investment arises mainly from a text claimed by the South African Revenue Service against the company in which that Structured Finance Fund has invested the GIPF funds. Through the South African Revenue Service, claims exceed the GIPF, which could lose N$815 million invested. However, the dispute is still ongoing. Therefore, we cannot confirm already that this money is lost."

Also responding to IPC MP Michael Mwashindange, the minister outlined measures to improve tax collection through the Namibia Revenue Agency's digital systems, broaden the tax base, and assess whether incentives deliver economic benefits.

" I just want to indicate that this is a significant milestone in the modernisation of tax and customs administration. With regard to digital transformation, the Namibia Revenue Agency is deploying integrated electronic systems for tax and customs administration, which enables online registration, filing and payment and improves the accuracy and timeliness of revenue collection. These systems also enhance the agency's capacity to analyse data, detect anomalies and identify non-compliant taxpayers," responded Shafudah.