In a step toward financial empowerment and inclusive growth, Erongo RED recently launched a Payroll Deduction Agreement with NAMITVEST, which owns 25% of NAM-MIC, with an aim to provide direct and indirect benefits to Mineworkers Union of Namibia (MUN) members. This initiative enables Erongo RED employees, particularly members and former MUN members, along with their dependents, to invest in Just Transition Investment (JTT) Namibia Limited, an investment company dedicated to financial growth.

In a statement, Erongo RED, the electricity distributing company established in 2005, noted the arrangement offers a seamless and structured pathway for employees to build personal wealth, accumulate assets, and participate in the company’s growth.

Speaking at the signing ceremony, Jason Kasuto, the Principal Officer of NAMITVEST, reiterated the payroll initiative, “ensures financial security through asset accumulation and investment returns”, he noted. The signing was attended by company leadership, staff, and key stakeholders, marking a significant milestone in strengthening employee–employer collaboration.

Erongo RED’s CEO, Immanuel !Hanabeb, in a speech read on his behalf by executive manager for supply, Claude Tjizo, highlighted that “as an employer, our responsibility goes beyond providing reliable electricity to our communities. We are equally committed to supporting initiatives that enhance the socio-economic well-being of our workforce. The establishment of this payroll deduction facility ensures that employees can participate in an investment initiative that promotes financial growth and long-term stability, ” he stated.

Moreover, George Ampweya, MUN general secretary, who spoke on behalf of MUN president, Poco-Key Mberiuana, echoed this sentiment, noting that “the agreement strengthens the relationship between employees and their employer while supporting members’ financial aspirations. Our members can thrive both professionally and personally. When employees become shareholders, dividends will be distributed through a transparent and well-communicated process. This reinforces a culture of accountability and shared success while encouraging long-term financial planning”.

“The collaboration between NAMITVEST and Erongo RED reflects a shared commitment to creating meaningful financial opportunities for employees and their families. By simplifying access to investment through payroll deductions, the program fosters a deeper sense of ownership and connection to the organisation, laying the foundation for generational wealth and a more secure future,” reads the Erongo RED statement.