SWAKOPMUND – NAMITVEST and Swakop Uranium signed a payroll deduction agreement on Thursday to enable employees, particularly members of the Mineworkers Union of Namibia (MUN), to directly invest in long-term wealth-building opportunities.
The initiative is aimed at enhancing financial empowerment and economic inclusion.
NAMITVEST, a broad-based empowerment company, is 25% owned by MUN subscribing members and ex-members through the Namibia Mineworkers Investment Holdings Company (NAM-MIC Holdings).
At the signing ceremony NAMITVEST principal officer Jason Kasuto explained that the agreement is a transformative step forward that ensures employees acquire shares in Just Transition Trust (JTT) public company through an innovative payroll deduction system.
“Since the launch of NAMITVEST, our focus has been on financial inclusion, financial education, and economic empowerment for MUN members and ex-members. This agreement further advances these goals by creating a seamless and transparent investment mechanism,” Kasuto said.
Through JTT public company, NAMITVEST has already secured more than 1 500 shareholder applications from MUN members and ex-members and in December 2024, the company distributed dividends to about 690 shareholders at a rate of N$1 per share.
Additionally, more than 1 200 MUN members have undergone financial literacy training under the initiative, he said.
The payroll deduction system, according to Kasuto, will provide employees with a structured, interest-free installment model for purchasing shares. Employees who leave their jobs will retain full ownership of their shares without additional liabilities unless otherwise agreed.
MUN acting president Poco-Key Mberiuana applauded the agreement as a milestone in empowering mineworkers and their dependents.
“For the first time, our members can invest in their future through share ownership. This is more than just a financial opportunity; it is about creating a sense of ownership and participation in a company’s success. Our members are not just employees; they become partners in growth,” he stated.
Swakop Uranium vice president for human resources and office of company, Patrick Chizabulyo, described the partnership as a crucial step towards financial emancipation for mineworkers.
“The mineworkers are an essential part of our economy, and they deserve opportunities that allow them to build wealth for themselves and their families,” he said.
Chizabulyo further stressed that this initiative is not just about individual financial security but also about strengthening communities and ensuring that Namibia’s natural resources benefit those who contribute to the mining sector daily.
– Nampa