Namibia: GIPF Investment Manager in Hot Water

Investment company Baobab Capital – tasked with managing N$140 million in pensioners’ money – is on the verge of being shut down over alleged financial irregularities.

Namibian-owned Baobab Capital invests in early-stage businesses, hoping to grow them into medium and large-scale enterprises.

The Namibia Financial Institutions Supervisory Authority (Namfisa) issued a public notice of deregistration last week.

Namfisa is accusing Baobab’s directors of conflicting interests and the abuse of power.

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