Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Namibia Proposing Local Investment Targets for Pension Funds

Don't Miss Out —
Follow us on:

Oct. 17 (Bloomberg) -- Namibia is proposing legal amendments to compel insurers and pension-fund managers to invest at least 35 percent of their assets in the domestic economy.

Insurers and pension funds must also invest at least 1.75 percent of their assets in local, unlisted investments, according to the draft amendment, which has been approved by the cabinet. Institutional investors will have 12 months to comply with the new rules after they are published.

The government is proposing the rule change in a bid to curb capital flight and boost domestic growth, after Namibia’s central bank said earlier this month that investments in South Africa come largely through savings and institutional investors. Namibian portfolio investments in South Africa totaled 4.5 billion Namibian dollars ($457 million) last year.

To contact the reporter on this story: Felix Njini in Windhoek at fnjini@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.