NAMITVEST Investment Holdings paid its first dividend to beneficiaries on 29 November 2024, marking a significant step in its mission to empower members and former members of the Mineworkers Union of Namibia (MUN) and their dependents through financial growth and generational wealth-creation. 

This milestone reflects NAMITVEST’s commitment to uplifting former and current MUN members, and prioritising the well-being and socio-economic advancement of its stakeholders. 

Close to 700 shareholders received dividends at N$1.00 per share. 

To commemorate this historic achievement, an official press event was held, celebrating the payout and its impact on beneficiaries on Wednesday, 11 December at the Mineworkers Union of Namibia offices in Windhoek. 

NAMITVEST operates as a transformative force in Namibia’s economic landscape. The organisation, wholly-owned by JTT, holds a 25% stake in NAM-MIC Holdings, valued at more than N$700 million. Its diversified portfolio provides beneficiaries with direct participation in national growth. 

Speaking at the event, Jason Kasuto, the principal officer of NAMITVEST and MD of Monasa Advisory and Associates shared the impact of this payout. “Today marks a historic moment for the Mineworkers Union of Namibia and its brainchild NAMITVEST, a company that represents the true meaning of shared value and prosperity, for its shareholders, the mineworkers and ex-mineworkers and their children. This innovative commercial empowerment transaction has never been done before, it is a first of its kind not only in Namibia but also on the African continent. 

What is innovative about this? According to bestseller the Paradox of Prosperity, which has a focus on Africa’s economic development, “innovation is taking complex, expensive and often inaccessible products or services and making these more affordable and accessible to the underserved masses,” he remarked. “NAMITVEST, through JTT, a public company listed with the transfer secretaries of the Namibia Stock Exchange, is owned by the hardworking men and women in the mining and energy sector, who are members of the MUN. From day one, they have a market share value of +50%, and today they will receive their first dividend. As the management firm of Namitvest, for Monasa Advisory & Associates this journey was complex, navigating commercial, transactional and legal structuring with one goal in mind, that is to ensure the beneficiaries truly benefit from participating in  ownership of real tangible assets. NAMMIC, which has interests in entities such as Capricorn, Sanlam, Santam, Avis, Gondwana, B2Gold and Walvis Bay Salt, today brings us immense joy, pride and almost tears to witness our Monasa, in conjunction with the visionary Mineworkers Union of Namibia, come to fruition,” he added. 

Kasuto said the next dividend payout is expected in the first quarter of 2025. All shareholders who are fully-compliant with the KYC requirements of the Transfer Secretaries, a subsidiary of the Namibian Stock Exchange, and who have made payments towards their shares, will qualify to receive dividends. Additionally, Poco-Key Mberiuana, the acting president of the Mineworkers Union of Namibia and chairperson of the Namibia Miners Investment Trust, emphasised the importance of this payout for the mineworkers.

“This dividend payout will support our people in meeting various financial responsibilities. It is incredible to witness the fulfilment of NAMITVEST’s promise to the mineworkers, as they now see their investments bear fruit. This is a remarkable achievement, and the Mineworkers Union of Namibia is proud to be part of it. Since its inception in 1986, the union has been committed to promoting the growth and success of mineworkers in Namibia. It is truly inspiring to witness mineworkers gaining and growing on this scale. 

This dividend declaration marks an important step in our journey to foster financial growth and generational wealth for mineworkers and their dependents.

Primarily prioritising the well-being and wealth creation of mine workers, NAMITVEST becomes a transformative force in Namibia’s socio-economic upliftment. The initiative is accessible by different groups, namely the former members, and current members of the MUN, including those who are vulnerable and who receive their shares at no cost, and their dependents. 

The dividends are the culmination of NAMITVEST’s 25% ownership in NAM-MIC, which forms the backbone of its investment portfolio. Beneficiaries are not only stakeholders in a diversified and high-performing portfolio but also gain access to exclusive benefits, including the Loyalty and Rewards Programme, which provides discounts at various retailers and service providers across Namibia. 

Through this programme, beneficiaries enjoy direct financial relief, and gain long-term value by owning shares in a stable investment platform. Shares are offered at a discounted rate, enabling shareholders to start their journey towards financial independence for as little as N$1696 for 200 shares. This approach is designed to make wealth-building accessible, while fostering economic inclusion. 

Erasmus Iiyambo, an ex-member of the MUN from the central region was proud to be part of this initiative. “We are making history. I have been part of MUN and since my retirement, I have never seen any product that allows you to trade in stocks. 

I have also never heard of workers investing on the stock exchange and receiving dividends so soon after the company launch. I encourage the rest to be part of this and educate themselves around this investment which will be worth the while for their families and their children, ”he said. 

The dividend disbursement is a first of its kind and is an attestation to NAMITVEST’s success in uplifting lives, creating capacity for economic empowerment, and mitigating challenges arising from economic shocks in the mining sector, as well as creating generational wealth. 

This dividend reflects NAMITVEST’s commitment to enhancing shareholder value and rewarding the trust and support its shareholders have shown.