THE Insurance and Pensions Commission (Ipec) is banking on the growth of its US$75 million investment in Kuvimba Mining House to generate more funds for compensation of policyholders who suffered losses during currency adjustments in 2019.
As part of wide ranging economic reforms, the government introduced a market determined exchange rate in 2019 that entailed transition from a fixed rate of US$1:$1 resulting in policy value losses.
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“… the US$75 million announced in the national budget to compensate for the losses is an investment asset, which yielded its first dividend of US$400 000 i
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