Windhoek-The Retirement Fund for Local Authorities and Utility Services in Namibia (RFLAUN) unveiled a new corporate identity on Friday. Following a brand audit, the new corporate identity – the development of which was guided by the board of trustees and re-evaluated by management – was unveiled after months of planning.
“We know that many institutions in our industry, both within this country and beyond, have developed their own brand initiatives and rebranded themselves in an effort to remain competitive. A global director for an organisation called Interbrand, recently said, and I quote, ‘If places do not proactively and positively manage their brands they will fall victim to the market defining who and what they are. This is usually inaccurate and unfair.’ end quote. Therefore, our new brand strategy is about combating those perceptions and telling our own stories,” said Dorian Amwaadangi, principal executive at RFLAUN.
He explained that the rebranding process began with a brand audit, which included an extensive assessment of stakeholder’s perception in terms of the brand, service delivery and the effectiveness of the communication channels used by the Fund.
“During this phase we made a few discoveries such as our old logo which we are discontinuing today causing confusion and being mistaken for a GRN agency or political party due to its design and colours. Our brand was not top of mind and awareness was low and not at the desired level. It was very obvious that we were not being smart about how we were promoting ourselves therefore change was absolutely required,” said Amwaadangi.
Another factor that played a major role and influenced the decision to rebrand was the evolution of the Fund over the past 25 years. The board and management said they realised it was time to claim their rightful position in the dynamic pension industry.
“I am proud to say we have achieved several important successes, which include crafting a flourishing investment strategy, which has seen the asset value of the Fund grow to just over N$4 billion. We have managed to enhance good corporate governance through the establishment of governing structures made up of various board committees to ensure fiduciary effectiveness.
“A further highlight for the Fund was when we built and moved into our own office-block, after being housed by the City of Windhoek for many years since RFLAUN’s establishment. We have also witnessed a continuous growth in the Fund’s membership and consequently we have increased our staff count to be able to attend to the needs of our members and stakeholders,” he added.
Officiating at the launch of the new logo, Urban and Rural Development Minister Sophia Shaningwa noted that the Fund provides a pension-backed home loan scheme to its members, which covers up to one third of a member’s pension fund credit, allowing many to access home loans.
“I am informed that the value of the loan book currently stands at N$116 million and so far 1,300 members have benefitted from this scheme. These are just some of the notable economic and social impacts which the Fund contributes to,” she noted.