Speaking during the launch of Namibia’s inaugural Sovereign Wealth Fund, the Welwitschia Fund, President Hage Geingob said various factors such as drought, financial difficulties, tough economic times and the recent emergence of the COVID-19 pandemic led to the establishment of the fund. He also explained that the purpose of the fund is to fully utilise the benefits of Namibia’s natural resources to counter future unpredictable economic headwinds, as well as to allow future generations to benefit from these natural resources. Geingob added that the launch of the fund is testament to government’s commitment to uplifting the lives of Namibians and guaranteeing socioeconomic progress.