# Retirement Fund for Local Authorities and Utility Services in Namibia

Retirement Fund for Local Authorities and Utility Services in Namibia is a Pension Fund based in Windhoek, Namibia.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Windhoek, Namibia
- **Region:** Africa
- **Address:** 1 Delius Street, Windhoek West, Windhoek, Namibia
- **Founded:** 1992
- **Assets under management:** 396 (Altss estimate)
- **Website:** rflaun.com.na
- **LinkedIn:** https://na.linkedin.com/company/retirementfundforlocalauthoritiesandutilityservicesinnamibia

## Regulatory record

- **Reports private funds:** No

## About

The Retirement Fund for Local Authorities and Utility Services in Namibia was established in March 1992. It functions as a defined contribution scheme whose membership base consists of current and former staff from 58 participating employers, including the City of Windhoek. Governance rests with a board of trustees that includes Mayor Queen Kamati and is chaired by Gaudentia Kröhne. The fund allocates across listed equities on the Namibian Stock Exchange, private equity commitments and real estate. Confirmed positions include a 3.93 percent stake in Oryx Properties Limited and a 0.94 percent holding in FirstRand Namibia Ltd, both reported in 2024 integrated filings. Private equity exposure runs through commitments to Stimulus Investments Limited, EOS Capital’s Euphrates Agri Fund and the Tunga Real Estate Fund. Geographic deployment remains concentrated in Namibia with ancillary holdings in South African-linked financial assets. Assets under management stand at an estimated $396 million. The fund employs external service providers that include RFS Fund Administrators, Ernst & Young Namibia as auditor, Old Mutual Corporate Consultants as actuary and Standard Bank Namibia as custodian. It maintains membership in the Retirement Funds Institute of Namibia. In 2023 the fund marked its 31st anniversary with a review of member benefits and housing loan performance. The fund’s architecture separates investment management from benefit administration through a network of specialist providers while retaining direct oversight of a pension-backed lending program that allows members to borrow against up to one-third of accrued credits. This structure creates a closed-loop relationship between retirement savings and housing finance that is uncommon among Namibian pension vehicles.

## Sectors

- Diversified

## People

- Dorian Amwaandangi — Principal Executive Officer
- Gaudentia Kröhne — Chairperson of the Board of Trustees
- Queen Kamati — Trustee

## Questions

### Who runs investment decisions at the Retirement Fund for Local Authorities and Utility Services in Namibia?

Dorian Amwaandangi serves as Principal Executive Officer. The board of trustees, chaired by Gaudentia Kröhne, retains final authority over asset allocation and manager selection.

### Does the fund participate in private equity commitments or only listed holdings?

The fund holds limited partner interests in Stimulus Investments Limited, EOS Capital’s Euphrates Agri Fund and the Tunga Real Estate Fund alongside listed positions in Oryx Properties and FirstRand Namibia.

### What is the fund’s known posture on co-investments alongside external GPs?

No direct co-investment activity is disclosed. Exposure occurs through fund commitments and a direct real estate holding in its Windhoek headquarters.

### Where does the underlying membership base come from?

Membership is restricted to current and former employees of participating Namibian local authorities and utility services distributors, with the City of Windhoek among the largest employers.

### How does the fund source proprietary deal flow?

Deal flow arrives through retained advisors RisCura Consulting and asset managers Allan Gray Namibia, Ninety One and Ashburton Investments rather than through an internal origination team.

## Related profiles

- [Segal](https://altss.com/profile/segal)
- [Adams County Retirement Plan](https://altss.com/profile/adams-county-retirement-plan)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/retirement-fund-for-local-authorities-and-utility-services-in-namibia

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology