Corporate companies have applauded President Hage Geingob and the Namibian government for establishing the Sovereign Wealth Fund. The more than N$300 million Sovereign Wealth Fund, known as the Welwitschia Fund, was finally unveiled this month after years of planning. The Welwitschia Fund is expected to offer long-term protection to the economy against future external shocks. Its financing includes royalties from all mineral resources mined and sold, and tax revenues and has 70% of its investments in equities, fixed-income, real estate, and contributions from state-owned enterprises. President Geingob, during the launch of the Fund, emphasised the government's highest commitment to Namibians in the transparent implementation of core objectives. Corporate giants such as Shell and Namcor said the establishment of the Fund will see the country being among few natural resource-rich countries with Sovereign Wealth Funds to bridge funding gaps and address socio-economic challenges.